By Lindy Beyer and Matt Rau, CBRE Kansas City is a special place. We have long been known for our renowned barbecue, jazz and most recently, as the city where Taylor Swift’s fiancé works. Retail is at the core of our city, attracting visitors from all over the world to experience our city’s welcoming and rich culture. As the metro area has grown, so has the retail market. We are currently experiencing a period of robust growth, fueled by a combination of strong suburban demand, exciting new mixed-use developments and the appeal of big box vacancies. Sports have been an additional driver as the city continues to invest in its athletic and entertainment offerings. These venues attract large crowds — generating foot traffic and boosting sales for nearby retailers. Retail occupancy rates in Kansas City have increased from 93 percent to 95.1 percent in the last five years, showing the strong overall demand in the market. This is especially notable as there have been over 2.6 million square feet of new retail space delivered over that same time frame, with a large portion contained in mixed-use developments. Overall growth in the Kansas City submarkets has triggered a higher demand for …
