Historic KC bakery is slated to become Wonder lofts

On a corner of Troost Avenue where Wonder Bread used to be baked and distributed, a local development partnership is cooking up a redevelopment project called Wonder.

Exact Wonder LLC bought the roughly 115,000-square-foot bakery building at the northeast corner of 30th Street and Troost about a year ago and plans to convert 80,000 square feet of it into 84 market-rate apartments. An additional 35,000 square feet will be leased for restaurant, retail and office uses.

Agency advances blight finding for ‘throwaway’ Flashcube Building

Appraiser Scott Belke’s case that the “Flashcube Building” is blighted was so convincing that the board of the agency expected to consider a tax break for its redevelopment cut him off midway through his presentation on Thursday.

Council will decide whether 75 percent is new normal for tax breaks

A Kansas City Council committee on Wednesday recommended approval of an economic development reform ordinance that would make 75 percent caps on property tax diversions and abatements the new normal.

2016 Mid-year Industrial Report

Shaking off Recession

Just a few years ago, the industrial sector was in trouble. Bruised by the recession and aftermath, demand for Flex Industrial and Industrial space hit a low, characterized by high vacancy rates and sluggish growth. The construction pipeline all but dried up, and cap rates approached double digits in many markets.

But the sector is turning around. E-commerce growth and more sophisticated supply chains are boosting industrial demand, especially for warehouse and distribution centers near densely populated metros. Additionally, the recent opening of the Panama Canal expansion will also likely spur demand for industrial space, especially among port cities.

Retail – 2016 Mid-Year Commercial Real Estate Trend Report

The Reality of Retail

It seems as though commercial real estate’s retail sector is struggling. Business headlines focus on bankrupt retail chains, there is much talk about e-commerce supplanting bricks and mortar, and according to most reports, regional malls are doomed.

But the reality is different. IRR’s recent Viewpoint shows that most retails markets are in Recovery or Expansion. As such, IRR is forecasting that, for the next 12 months, asset values will remain steady, or increase.