Training and education program sees strength in commercial real estate connections

Recently established in Kansas City, Skilled KC Technical Institute offers alternatives to traditional two- and four-year degree programs as a path to economic independence, thanks to substantial support from a not-for-profit sponsor.

Jeff Barratt leads Skilled KC, a private, non-profit, 501 (c)(3) affiliate of the Ewing Marion Kauffman Foundation.

The foundation brought the Neosho native back to Missouri from Denver, where he headed the Emily Griffith Institute, an award-winning institution that graduates students at an 84% completion rate and places those graduates in great career tracks at an 81% rate, while graduating students debt-free.

Skilled KC has a $2.5 million endowment and reflects Barratt’s belief that “education in entrepreneurship is a way to achieve success.”

“We wanted to create an institution that was nimble and open access so students could get out of low-end jobs and graduate with little or no debt,” Barratt said.

The Skilled KC curriculum touts an entrepreneurial mindset featuring 18 attributes with a focus on creative ideation and communication. Barratt supports that mindset through his hiring philosophy: “We want people who are entrepreneurial.”

The institute is licensed to operate on both sides of the state line. Pilot programs launched this past September. Not surprisingly, the organization had to pivot to be fully virtual and then were able to develop a hybrid approach.

Skilled KC is unique in the way it shapes its presence in the commercial real estate community.

“We have a campus-within-a-campus philosophy. We aren’t interested in large buildings (of our own), so we will partner with private companies or education institutions to use (existing) space. We can collaborate with real estate partners. We’re in the process of formalizing arrangements with external colleagues,” Barratt said.

Another aspect of the business that sets it apart is that Skilled KC is “competency-based and backward-designed from industry feedback,” said Barratt.

Its “earn while you earn” and stackable credential model focuses on the occupations that are the most in demand.

Skilled KC currently has a 6,000-SF facility on a short lease at the foundation (4801 Rockhill Road) and private lab space with the Kansas University Medical Center on State Line Road.

“We’re looking at renovating space as a hub; our model is a hub-and-spoke so we can meet students where they are,” Barratt said.

“We don’t want to spend a lot of money on real estate space because we want flexibility so we can move programs in and out. I’m a driver of efficiency — I hate to see space that is empty. I want to maximize space.”

Barratt said the pandemic created more opportunities that fit its real estate philosophy.

“I wouldn’t want to be an investor in large buildings now. I think there will be a trend or movement into shared space. We will see more big box store partnerships, such as Kohls with Amazon,” Barratt said.

Barratt has found space in Kansas City because “people are seeking me out,” which is gratifying evidence that Skilled KC is seen as an anchor tenant.

“It can be attractive for tax benefits,” he said.

He looks for space in terms of access for students and understanding a community perspective, such as the need for child care and transportation.

“We look at developers with a social perspective,” he said.

The institute has already joined forces with design-architectural partner, Gould Evans.

Skilled KC started with three pilot programs — software development, advanced manufacturing and biotechnology. The next offering will be in cybersecurity.

Plans call for entering the St. Louis market; Barratt is already talking to area businesses about possible connections with that focus. He also envisions eventually taking the institute to a national level.

“The KC site is our proof of concept,” Barratt said.

For more information, see www.skilledkc.org.

Coming soon to Leawood’s Park Place Village: Plate Italiano Moderno

AREA Real Estate Advisors, CBRE and KBS have announced that Plate Restaurant is expanding its footprint with a second location at Park Place Village in Leawood, Kan.

Plate Italiano Moderno will occupy the former California Pizza Kitchen beginning this fall (2021). The Plate’s original location resides in Brookside at 701 E 63rd Street; a relocation after the restaurant’s original site was destroyed by a fire in 2017.

“Park Place is the ideal location for this restaurant’s loyal customer base. There is a need for the taste of central Italy, especially their traditional pizzas, and there’s no better location for that than the top-quality office and retail property that Park Place has always been,” said AREA vice president, Rich DuVall, who handled the leasing transaction on behalf of Plate.

Park Place Village is a 10-building complex that offers a variety of amenities including boutique shops, upscale restaurants and cafés. The surrounding area features parking garages, the Aloft Hotel, 120 apartments, 30 townhouses and 27 lofts.

“Adding this dining option to Park Place brings tenants, local residents and visitors one more reason to appreciate this Class A asset and consider it one of the prime mixed-use properties in the region,” said Dan Park, asset manager for Park Place Village and senior vice president at KBS.

CBRE senior associate Matt Rau handled the leasing transaction on behalf of KBS.

“Park Place is an iconic mixed-use destination that draws in high-quality tenants seeking the very best amenities in the Leawood market. As one of the most popular restaurants in this region, Plate is a perfect match with the property and will be a win-win with tenants and visitors alike,” Rau said.

The modern Italian eatery, created by local restauranteur Christian Joseph in 2014, features an award-winning dining experience, with menu items that include homemade pizza, pasta, focaccia and other regional favorites prepared daily in the scratch kitchen.

“For us, it is truly all about hospitality and the guest experience. When we realized we needed a second location to cater to our burgeoning customer base, we knew that Park Place in Leawood was ideal for our first expansion. We are thrilled to be able to bring our next-level dining experience to this location,” Joseph said.

The original eatery on the Plaza is currently serving lunch, happy hour, dinner and weekend brunch with indoor and outdoor seating.

Multifamily brokers form new venture: MMG

Multifamily property owners have a new team of experts - and a new firm - to turn to when considering a sale.

Alex Blagojevich and Michael Sullivan will lead Mid-Markets Group Real Estate Advisors (MMG) as founding partners and executive managing directors, leveraging their multi-market approach to ensure clients receive maximum exposure from interested and qualified buyers.

The duo, along with four others on the MMG team, brings more than 50 years of collective brokering experience and a vast, nationwide network to its new venture that plans to assist owners of multifamily properties in determining the best strategy for their holdings.

Recognizing the long-standing brokerage framework centered on siloed markets is growing increasingly obsolete, MMG leaders seek to establish a new type of multifamily firm built with the client at the center of the business.

“As part of the industry’s recovery from the recession, a growing number of investors are turning to the multifamily sector for more consistent, predictable yields. In turn, fund advisors are forced to expand their search for properties outside of their historical market focus, and MMG is poised to execute on this well,” said Blagojevich.

Its advisors aim to maximize value for multifamily property owners by providing a fully integrated advisory platform from acquisition to disposition. The team has extensive experience with all subsets of multifamily properties, including student, affordable and senior housing and land services.

Owners benefit from MMG’s national reach, access and expertise. Though the team rose to prominence in the industry selling across the Midwest, South and Southeast, they have continued to expand their market coverage into a national focus.

Collectively, the MMG team have closed nearly 500 multifamily transactions across 110 unique markets in 31 states for a total of more than 100,000 units and $6 billion in gross sales, building a knowledge-base of similar markets and an expansive network of qualified buyer prospects.

“MMG’s diverse relationships allow us to explore opportunities among private and institutional investors. That combination gives MMG the advantage of quickly generating interest from multiple qualified buyers by accessing capital unavailable to other brokers,” said Sullivan.

The team prides themselves on taking a detailed, strategic approach to every assignment and creating the highest-quality marketing materials tailored to each property and market.

“We’ve put together a talented team that delivers exceptional service to our clients, and that’s just one of the secrets to our success. We have the knowledge and resources to support clients every step of the way,” Blagojevich said.

“We don’t believe in one-size-fits all solutions. Rather, every client, every asset and the ultimate objective for each listing is unique. By customizing each solution so that it is aligned with the client’s objectives, we’ve successfully helped hundreds of property owners meet or exceed their goals.”

Prior to launching MMG, Sullivan and Blagojevich led the Berkadia Mid Markets brokerage team to notable success in 2020. By leveraging an aggressive approach despite difficult market conditions, they closed more than $935 million in gross sales.

“Coming off of a challenging year has only ignited our passion for amplifying our ability to deliver outstanding client service. We look forward to maintaining and increasing our momentum in 2021, leveraging our one-of-a-kind, full-service approach to consistently exceed clients’ expectations and deliver profitable outcomes,” Sullivan said.