industrial market
state of the
in the united states
4900 main street
Kansas City, MO | August 2023
The Team
KANSAS CITY, MO
Justin Beal
Executive Managing Director, Principal jbeal@nzimmer.com 816-268-4241
Victor Cascio
Managing Director vcascio@nzimmer.com 816-268-4234
Kassie Murphy
Associate kmurphy@nzimmer.com 816-471-3571
Nicole Gutesha
Associate ngutesha@nzimmer.com 816-268-4215
Executive Managing Director, Principal nsuarez@nzimmer.com 816-512-1012
nick suarez
Team lead
support team
Senior Managing Director, Principal jhoefer@nzimmer.com 816-268-4248
john hoefer
Associate Director tgentry@nzimmer.com 816-268-4249
Tommy Gentry
Scott Rohr Senior Marketing Manager
Bethany Murley director, marketing
Rachel England Marketing Designer
andrew garten Director, research
team lead
team co-lead
flight to quality
Amenities
Sublease inventory
01
Trends
State of Kc market
the plaza
02
challenges
tenants requiring less space
hybrid work
construction costs
employee leverage
quality
Flight to Quality
Amenities and tenant experience are more important than ever.
Sublease space
Mass amounts of sublease space.
Best buildings
Strong demand for the best buildings, and very little demand for B and C buildings.
Median size lease completed in the last 24 months of 2,000 SF or more was 5,964 SF.
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TENANTS
Leasing less space than before.
Businesses are implementing hybrid work schedules.
The burden of construction costs lead to indecisiveness and settling for flexibility.
Employee leverage
Employees have gained leverage with the option to work from home.
CHALLENGES
03
what do successful office buildings need today?
• Solid Ownership & Management • Elevated Tenant Experience • Good Location • Amenities
ideas
• putting green outside • updated outdoor area with pergola • bar • set up tenant programming for events outside • food truck days • bbq’s
• Putting green outside • Updated outdoor area with pergola • Bar/grill/entertainment space • Tenant programming for events & activities • Conference facility on the 9th floor
competitive set
Plaza Colonnade
4801 Main Street Kansas City, MO 320,000 SF 96% Occupancy $34.00 / SF Rent Rate Amenities: New gym, coffee shop, conference centers, library.
46 Penn Centre
4622 Pennslyvania Kansas City, MO 229,000 SF 94% Occupancy $33.50 - $39.50 / SF Amenities: Gym, cocktail bar, restaurant.
American Century Towers
4520 Main Street Kansas City, MO 197,000 SF 85% Occupancy $29.50 / SF Amenities: Full gym, tenant lounge.
Plaza West
4600 Madison Kansas City, MO 261,000 SF 67% Occupancy $27.00 / SF Amenities: None.
Cordoba Building
460 Nichols Road Kansas City, MO 46,000 SF 75% Occupancy $32.00 / SF Amenities: None, Plaza location.
How does 4900 Main stack up?
PRO'S
• Ownership & Management • Location / Walkability • Builidng Prestige • Multiple Parking Options • Safety & Security
CON'S
• Some competitive buildings have better amenitites • Limited space options of varying sizes • Higher cost can be a deterent to some tenants • Existing condition of some vacancies
Marketing Plan
our approach
Real Time Reporting
Bi-Weekly Marketing Updates with Ownership and Management
Consider updating some amenities
Social Media/On-line Marketing
Best in Class Marketing Materials, Proposals, and Tours
Proactive vs. Reactive Approach
30/60/90 Day Plan
marketing tools
brochures
website
print/web advertisements
social media
email campaigns
interactive photography
360° Tours
Thank you!
newmark zimmer
1220 Washington Street Kansas City, MO 64105 816-474-2000
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