OVERLAND PARK, KAN. — StorageMart has opened a self-storage facility in Overland Park. This is the fourth location in the area and the 32nd in metro Kansas City for StorageMart. The property, located at 15415 Metcalf Ave., was constructed in 2017. The facility contains 639 climate-controlled units and nearly 80,000 square feet of rentable space. Special features include an onsite office, video surveillance and keypad access.
TOPEKA, KAN. — Payless ShoeSource will close all 2,100 of its stores in the United States and Puerto Rico as it moves toward liquidation. According to a statement by the company provided to USA Today, which first reported the news on the evening of Friday, Feb. 15, Payless expects all stores to remain open through March. The announcement comes nearly two years after the Topeka-based shoe retailer filed for Chapter 11 bankruptcy protection, a move that coincided with the shuttering of 673 American stores at the time. The company is also in the process of de-commissioning its online sales platform, but it remains unclear whether Payless stores in Latin America will remain open. Payless had undergone an aggressive expansion plan that required taking on a greater debt load. After filing for bankruptcy in April 2017, the company restructured its finances to eliminate $435 million in debt and whittle its store count to 3,500 locations worldwide. According to longtime retail consultant Jeff Green, Payless’ financial woes can be traced in part to the lack of name-brand shoe offerings, a product segment that is especially popular with millennial shoppers. “Even after Payless restructured its debt, the changing nature and growing competition from …
Many of us remember a time when a great new job was measured primarily by the paycheck and the size of the office. How times have changed. And nothing illustrates that better than the favor of mixed-use developments. As the workforce demographic has evolved, so have the amenities that attract top talent. Smart companies know that creating an appealing environment for the best candidates means access to food options, walking distance to shopping and retail choices, and close proximity to housing. Millennials are a big part (but not the only part) of this changing trend, especially as older millennials assume decision-making roles. But employers in general are learning that it makes sense to cater to their workforce by creating a more attractive work environment. From malls to millennials The landscape of American living and working has transformed over the decades. Up until the mid-20th century, mixed-use was everywhere, as many shop owners and employees lived in homes behind their businesses or apartments above their shops. With the rapid growth of the federal interstate system and growing popularity of single-use zoning regulations, however, commercial and residential spaces were largely separated. Not surprisingly, this combination gave rise to the golden age of …
Once referred to by developers as a “well-kept secret,” the Kansas City metro area is quickly developing a global reputation for skilled workforce, strong infrastructure, affordable housing and competitive overhead costs like transportation and utilities. “Kansas City is a region rising. We are dispelling the notion that Kansas City is a well-kept secret,” says Tim Cowden, president and CEO of Kansas City Area Development Council. “There is growing recognition among site locators and corporate executives that the Kansas City region is an excellent option for any number of business types, including financial services, technology centers, animal health, e-commerce or industrial.” I-35 corridor As one of the most populous counties in the metro area, Johnson County, Kansas, appeals particularly to business and industry seeking to locate outside the downtown Kansas City core. The county has added an average of 6,500 residents each year for the past decade, and private development is keeping pace. Residential and retail projects dot the I-35 corridor northeast of Olathe, Kansas, the Johnson County seat. Southwest Johnson County, meanwhile, has become an industrial heavyweight with two parks located just off the interstate. “Johnson County has a formula for success with the quality of the workforce, infrastructure that’s …
PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health has completed construction of Mission Chateau Senior Living Community in Prairie Village, just south of Kansas City. Development costs for the 214,800-square-foot, 18.4-acre development were estimated at $55 million. The community features 22 independent living villas, 121 independent living apartments, 40 assisted living units and 40 memory care units. Other offerings include on-site home healthcare and several Tutera rehabilitation and skilled nursing facilities nearby. Tutera has also teamed up with 20/20 Fitness in Prairie Village to offer residents wellness services. Partners on the project included interior design firm studioSIX5, engineering firm BHC Rhodes, Nearing Staats Prelogar & Jones Architects and Luke Draily Construction Co.
For those of you not familiar with Overland Park, Kansas, and its progressive office market, below are a few key points to help illustrate the relative size and economic strength of one of Kansas City’s most dynamic suburbs. • Incorporated in 1960, Overland Park is the second-most populous city in Kansas. • As of 2017, the unemployment rate was 3.1 percent. • It contains 17 percent +/- of metro Kansas City’s total office inventory. • $69,888 per capita income in 2017 • AAA bond rating status from the nation’s top three bond rating agencies, received by only a small handful of municipalities The Overland Park office market has led the metro in new office deliveries, occupancy and rent growth for much of the past two decades. It is the headquarters location of choice for a host of large corporations, such as Sprint, AMC Theaters, Black and Veatch, Waddell & Reed and YRC, to name a few. Access to a highly educated workforce, affordable housing, top-rated public schools and healthcare is a sampling of the reasons companies are attracted to the area. However, large corporations are not the only companies interested in locating here. Overland Park has a deep and …
LENEXA, KAN. — Newmark Grubb Zimmer (NGZ) has brokered the sale of the former Silpada Jewelry headquarters building in Lenexa for an undisclosed price. The Class A facility includes 150,000 square feet of office space and 65,000 square feet of industrial warehouse space. Scott Bluhm, David Zimmer, Tracey Mann and Nick Pickard of NGZ marketed the property on behalf of Silpada, which ceased operations in 2016. Heart to Heart International purchased the building.
OLATHE, KAN. — Colliers International has negotiated the sale of a 46,748-square-foot industrial building in Olathe for an undisclosed price. The property is located at 220 N. Mahaffie St. John Stafford of Colliers represented the seller, Steven Rogers. Chimney Corner Investments LLC purchased the asset. Tenants were not disclosed.
OLATHE, KAN. — Alliant Credit Union has provided a $23.8 million loan for the refinancing of Olathe Pointe Center, a 142,506-square-foot retail property in Olathe. Some of the tenants include Party City and Justice. The 10-year loan features a 25-year amortization schedule. Mark Reichter of Q10 Triad Capital Advisors Inc. arranged the loan transaction. The borrower was not disclosed.
LAWRENCE, KAN. — The Martens Companies has completed development of the 112-room Best Western hotel in Lawrence in northeastern Kansas. It is the first property developed within the mixed-use project known as The Mercato. Amenities include an indoor saltwater pool, fitness center, grilling patio and fire pits within an outdoor courtyard. The hotel also offers 840 square feet of meeting space. Steve Martens of The Martens Companies worked with his hotel development subsidiary, Hospitality Development of America, on the $14.5 million project. Another subsidiary, Hospitality Management LLC, will manage the hotel. Wichita-based Conco Construction was the general contractor. Adams Architecture and Spangenberg Phillips Tice Architecture provided architectural design services. Landplan Engineering handled site and engineering design.