Alex Olson, Clemons Real Estate

At MWM we are focused on all things commercial real estate and property development.  The focus of our Broker Spotlight segment is to highlight the personal goals and achievements of Kansas City’s up-and-coming brokers and to tap into their coveted, first-hand industry knowledge on current and future market conditions. The August Broker Spotlight is on Alex Olson, real estate agent with Clemons Real Estate.

MWM: Let’s start from the beginning - when and why did you choose real estate as your career path?

OLSON: I started as a real estate investor in 2018. Real estate has always intrigued me but I didn’t really fall in love with it until I built our dream home in 2017. Reading ‘Rich Dad Poor Dad’ at the age of 14 piqued my interest also, but I didn’t completely understand the concepts. Once I understood my appreciation for physical structures, the economics of real estate, and how it propels the US Economy, I was hooked. Then, a mentor recommended that I get my real estate license and I welcomed the challenge. 

MWM: What asset class in CRE do you focus on?

OLSON: Multifamily sales and net leased property sales.  In particular, representing 1031 exchange buyers who need cash-flowing assets in Kansas City {Editor’s note: A 1031 exchange allows you to sell one investment or business property and buy another without incurring capital gains taxes – as long as the exchange is completed according to IRS rules and the new property is of the same nature or character (like-kind).}

MWM: What are the market trends you are experiencing with your clients currently?

OLSON: Multifamily prices continue to soar in Kansas City, but still, investors are divesting on the west coast and moving their money to Kansas City.

MWM: What’s your forecast for the local and national CRE market?

OLSON: Multifamily will continue to thrive in Kansas City as the cost of construction remains high and home affordability continues to be an issue for some. In addition, net-leased properties that are more recession-resistant (medical office, veterinary/pet care, dental, national credits with online presence) are more attractive as a more passive investment vehicle for out-of-state buyers. 

MWM: What are your biggest challenges right now?

OLSON: Finding great deals in multifamily is challenging for some clients but a great deal is in the eye of the beholder. Understanding their primary objective is a way to understand what aspects of any deal are best for them for the moment. In addition, showing 1031 exchange buyers that a net leased property may be a better option; in particular, if they are out of state or want a more hands-off approach to cash flow. 

MWM: From your perspective, what can KC do to push ahead of the curve?

Olson: I am very optimistic about Kansas City. We need city leaders and economic development groups to continue to push jobs into the Kansas City metro market. Jobs are what drive activity and Kansas City has the resources (space, affordability, labor force, and employers) to propel the Midwest forward.

MWM:  How can prospects contact you for more information?

Olson: Reach me at alex@clemonsrealestate.com, on LinkedIn or mobile at 816-591-0825.

Ryan Companies helps deliver first U.S. high-tech fulfillment center

Ryan Companies US Inc., a national developer, builder, designer and property manager offering full-service commercial real estate solutions, recently announced the grand opening of Kroger Ocado Customer Fulfillment Center (CFC) in Groveland, Fla.

The 419,317-SF state-of-the-art, automated warehouse will introduce Kroger’s innovative shopping experience to central Florida, a new market for the nation’s largest grocery retailer, while also extending its reach and capabilities in online ordering and home delivery. 

Located in Groveland, just 30 miles from Orlando, the high-tech facility is the first of its kind in the United States.

In partnership with United Kingdom-based online retailer Ocado Solutions, autonomous mini-fridge-sized robotics will work seamlessly with team members to gather, pack and load online orders made by new Kroger customers. Kroger Ocado will provide home delivery of fresh grocery items without requiring patrons to sign up for a third-party subscription service. 

Ryan served as the lead architect, engineer, developer, and construction team for the project.

“The nation’s most prominent e-commerce, retail and manufacturing companies trust Ryan’s end-to-end industrial real estate services for the facility solutions that drive their success,” said JP Bacariza, vice president, market leader – Tampa at Ryan Companies.

“The new Groveland site will be a gamechanger for Kroger in Central Florida, allowing the community to enjoy America’s largest grocery retailer for the first time. Our team served as the touchpoint on each phase of the project from site selection to construction, and we are proud to celebrate this milestone with our long-term partners, Kroger and Ocado.”

Ryan developed a relationship with Kroger after being selected to design and build the first Ocado automated warehouse outside Cincinnati, Ohio. Ryan’s knowledge of designing and constructing complex facilities with automation and robotics played a part in deciding to work on additional Kroger Ocado fulfillment centers, including a separate facility in suburban Atlanta that will open later this year. 

Ryan has completed 40 automated warehouse projects (33+ million square feet) in 20 states for leading brands such as Kroger, Target, SuperValu and Nestle Purina.

“Implementing our “One Ryan” approach of improving the connection between design and construction was instrumental in tackling every challenge we faced and enabled us to deliver this project within our target 13-month timeframe,” said Bob West, director of Industrial Business Development for Ryan Companies. “E-commerce is fueling a surge in demand for automated warehouse facilities that are equipped to meet the fast-changing needs of grocers and F&B providers, and the comprehensive menu of service offerings provided under Ryan’s umbrella will allow us to innovate and drive change in this critical sector for years to come.”

The relationship with Kroger and Ocado ties into Ryan’s broader strategic partnership strategy and delivering projects as more than a contractor, but as experts in each phase of the process, from planning and designing to construction.

The Groveland project is unique to the region because Kroger does not currently have brick-and-mortar stores in Florida. The community anticipates the customer fulfillment facility will attract many new high-paying jobs. Features of the four-floor Kroger Ocado site include the distribution center, functional office space, double story break room and a mezzanine floor.

The Kroger Ocado Customer Fulfillment Center broke ground in July 2019 and will begin delivering groceries in Central Florida this summer.