KCRag Forum

normalthings wrote: ↑Mon Jan 25, 2021 1:26 pm the lights are always on at Jos A Bank now. Is anything going on with that?

TheLastGentleman wrote: ↑Sat Jun 26, 2021 8:07 pm This project went silent

normalthings wrote: ↑Sat Jun 26, 2021 9:04 pm

TheLastGentleman wrote: ↑Sat Jun 26, 2021 8:07 pm This project went silent

Its dead without a tenant wanting to go downtown

earthling wrote: ↑Sun Jun 27, 2021 8:37 am Yeah W&R is now essentially speculative and office recovery could take a while. Though KC doing better than rest of US with office using job growth.

earthling wrote: ↑Sun Jun 27, 2021 8:50 am Given that most larger cities are seeing greater increases in vacancy it would actually seem more likely that any relocations will occur to those cities that have a lot of available space at reduced rates. Several of the top 20 metros have over 20% vacancy, including DFW and ATL which are relatively low cost with best air service. KC might be attracting work from anywhere workers though.

Traditionally, office developers used to like to see below 12% vacancy to build spec (no pre-lease) but with low interest rates some may go for it in hot markets.

Anthony_Hugo98 wrote: ↑Sun Jun 27, 2021 8:42 am

earthling wrote: ↑Sun Jun 27, 2021 8:37 am Yeah W&R is now essentially speculative and office recovery could take a while. Though KC doing better than rest of US with office using job growth.

What’s the likelihood corporate America sees cities like KC as the key to office relocation and downsizing, as well as lower cost of operation and living?

Anthony_Hugo98 wrote: ↑Sun Jun 27, 2021 8:42 am

earthling wrote: ↑Sun Jun 27, 2021 8:37 am Yeah W&R is now essentially speculative and office recovery could take a while. Though KC doing better than rest of US with office using job growth.

What’s the likelihood corporate America sees cities like KC as the key to office relocation and downsizing, as well as lower cost of operation and living?

Anthony_Hugo98 wrote: ↑Sun Jun 27, 2021 8:42 am

earthling wrote: ↑Sun Jun 27, 2021 8:37 am Yeah W&R is now essentially speculative and office recovery could take a while. Though KC doing better than rest of US with office using job growth.

What’s the likelihood corporate America sees cities like KC as the key to office relocation and downsizing, as well as lower cost of operation and living?

earthling wrote: ↑Sun Jun 27, 2021 10:46 am ^Depends on their criteria and how fast/slow W&R leases out.

beautyfromashes wrote: ↑Sun Jun 27, 2021 3:55 pm W&R filling up or attracting a relocation just by being there should immediately show that speculation is possible in this city and spur future development immediately. Just continuing to have one high class tower in process and another planned right behind it would dramatically grow business movement here. It would be a better incentive than any condo build.

earthling wrote: ↑Sun Jun 27, 2021 8:50 am Given that most larger cities are seeing greater increases in vacancy it would actually seem more likely that any relocations will occur to those cities that have a lot of available space at reduced rates. Several of the top 20 metros have over 20% vacancy, including DFW and ATL which are relatively low cost with best air service. KC might be attracting work from anywhere workers though.

GRID wrote: ↑Sun Jun 27, 2021 9:41 pm

earthling wrote: ↑Sun Jun 27, 2021 8:50 am Given that most larger cities are seeing greater increases in vacancy it would actually seem more likely that any relocations will occur to those cities that have a lot of available space at reduced rates. Several of the top 20 metros have over 20% vacancy, including DFW and ATL which are relatively low cost with best air service. KC might be attracting work from anywhere workers though.

This is not a "likely" scenario. This is what will happen. Just like how it happened the last recession. The cities that have all the big empty empty new office buildings now, will eventually recover and have a lot more leased space and jobs in the long run as they will have so much more to offer relocating companies etc.

Cities like KC that struggle to build a small 250,000 sq ft office building every decade are barely even relevant in the national market.

It is what it is. KC needs large class A new construction buildings. Even if they sit empty for a few years, the city would benefit in the long run.

New spec office buildings often sit empty for years even in the most active large cities. KC is super lucky it had the Morgan empire building spec towers in the 80's or the skyline would look nearly unchanged since the 60's.