OFFICIAL - Waddell & Reed - 14th & Baltimore

[AlkaliAxel]

$38.5 sqft/yr sublease sound about right?

https://www.commercialsearch.com/commer ... velopment/

https://www.cbre.com/properties/propert ... =isLetting

Could be it. Below the number WR was to have paid

Either way, I think we’re “gonna have to build another spec building” to confirm the market again…

[normalthings]

weve never built a spec tho

[GRID]

$38.5 sqft/yr sublease sound about right?

https://www.commercialsearch.com/commer ... velopment/

https://www.cbre.com/properties/propert ... =isLetting

Could be it. Below the number WR was to have paid

Either way, I think we’re “gonna have to build another spec building” to confirm the market again…

Spec office building in KC?, in this post covid market? Yeah, not happening. This will be the last office building to go up in downtown in a long time. The one by Crown Center might happen, but it's not spec.

[AlkaliAxel]

Was kind of a joke lol.

However, I remember Stritzel saying a while back that he thought a real tenant would kick off the Podium and/or Platform venture office

[KCPowercat]

Great news. I actually like the building at ground level. Good on DNA for pushing for better ground level interaction

[Chris Stritzel]

Was kind of a joke lol.

However, I remember Stritzel saying a while back that he thought a real tenant would kick off the Podium and/or Platform venture office

That's still my hope. Since 1400 became more or less "spec" office space, I figured if it was leased out by a new to town firm, or a firm looking to expand, it would mean good news for the other proposed office buildings. In my opinion, Podium, Strata, and 13th and Grand should all now become residential (Podium can have a hotel). Platform Ventures should take priority for the next downtown office building. By having Podium, Strata and 13th and Grand all become residential, the area immediate on, and around, the streetcar can get denser with more residents.

There will likely be another big built to suit project in the near future. Emphasis on likely. Nothing is set in stone for that one yet.

[DColeKC]

Can't wait to hear who is coming downtown! Lord let it be employees who will want to get out of the building for lunch and happy hours! And of course move downtown.

I'll never not be angry with H&R. A complete and utter fail when it comes to any kind of true positive impact on downtown.

[earthling]

If it's Blue Cross, just a sideways move for downtown office market. Would be great news if from outside KCMO. And the 'success' also depends on whether they got asking price/rates or had to low ball. The latter might deter near term spec building.

BCBS would be a slight positive as they would at least be moving inside the loop but another downside would be that it would remove one of KC's better large parcels of available office space from the market. That would have negative impact for attracting an outside company to KC that needs space quickly. The present BCBS space is older and not likely to attract a high profile tenant.

Yeah that's a good point and many larger markets (with better air service) also have high Class A vacancy so DTKC chances of scoring an HQ or 1000+ headcount major site from outside metro not looking great. Would be a score if that happens but hopefully someone outside KCMO as BCBS or other city core player doesn't bring anything additional to downtown (or KCMO tax base) unless this is an expansion and not a move.

[AlkaliAxel]

If it's Blue Cross, just a sideways move for downtown office market. Would be great news if from outside KCMO. And the 'success' also depends on whether they got asking price/rates or had to low ball. The latter might deter near term spec building.

BCBS would be a slight positive as they would at least be moving inside the loop but another downside would be that it would remove one of KC's better large parcels of available office space from the market. That would have negative impact for attracting an outside company to KC that needs space quickly. The present BCBS space is older and not likely to attract a high profile tenant.

Yeah that's a good point and many larger markets (with better air service) also have high Class A vacancy so DTKC chances of scoring an HQ or 1000+ headcount major site from outside metro not looking great. Would be a score if that happens but hopefully someone outside KCMO as BCBS or other city core player doesn't bring anything additional to downtown (or KCMO tax base) unless this is an expansion and not a move.

But that's why we should build another Class A

[Highlander]

Can't wait to hear who is coming downtown! Lord let it be employees who will want to get out of the building for lunch and happy hours! And of course move downtown.

I'll never not be angry with H&R. A complete and utter fail when it comes to any kind of true positive impact on downtown.

Then it would be best if the company occupying the WR building comes from outside of KC. In a city the size of KC, I don't see many people relocating where they live because their office moved a few miles. Of course it would be best if the company was from outside KC in any event because it means growth but I would not expect much if its a company moving DT from the Crossroads, Plaza or even College Boulevard.

I do not understand, however, why H&R Block employees, while not moving downtown, would not at least venture out for food. Everywhere I've ever worked, that was at least a once a week endeavor.

[beautyfromashes]

I do not understand, however, why H&R Block employees, while not moving downtown, would not at least venture out for food. Everywhere I've ever worked, that was at least a once a week endeavor.

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

[earthling]

Have some emails out to some connections trying to find out who it is. Anyone else have some sources to check with?

[Anthony_Hugo98]

Have some emails out to some connections trying to find out who it is. Anyone else have some sources to check with?

The rag is my source

[DColeKC]

I do not understand, however, why H&R Block employees, while not moving downtown, would not at least venture out for food. Everywhere I've ever worked, that was at least a once a week endeavor.

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

[normalthings]

I do not understand, however, why H&R Block employees, while not moving downtown, would not at least venture out for food. Everywhere I've ever worked, that was at least a once a week endeavor.

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

This is common behavior in tech and financial services no matter where you go.

[Highlander]

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

This is common behavior in tech and financial services no matter where you go.

My company had a subsidized cafeteria in every location I worked. It got old. We frequently left the complex for lunch at a local restaurant. The company gym was a bigger disincentive to leave than the cafeteria.

[beautyfromashes]

I do not understand, however, why H&R Block employees, while not moving downtown, would not at least venture out for food. Everywhere I've ever worked, that was at least a once a week endeavor.

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

Of course, what fast places are left in the district besides Chipotle? Burger King gone. Mixx gone. Mama's gone. I guess more H&R Block people eat at the grocery store than anywhere. Of course, most places want a drive thru. Not sure why a local place like Hawaiian Bros wouldn't work or a good version of Panera.

[Cratedigger]

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

Of course, what fast places are left in the district besides Chipotle? Burger King gone. Mixx gone. Mama's gone. I guess more H&R Block people eat at the grocery store than anywhere. Of course, most places want a drive thru. Not sure why a local place like Hawaiian Bros wouldn't work or a good version of Panera.

Would love a Hawaiian Bros, Tropical Smoothie, Torchy's or Unforked/SweetGreen in P&L

Quick lunches that I can grab and then run back to my desk are tough in P&L

[DColeKC]

They do, but their cafeteria is arguably nicer and cheaper (they give employee discounts) than anything in P&L.

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

Of course, what fast places are left in the district besides Chipotle? Burger King gone. Mixx gone. Mama's gone. I guess more H&R Block people eat at the grocery store than anywhere. Of course, most places want a drive thru. Not sure why a local place like Hawaiian Bros wouldn't work or a good version of Panera.

Good point but this has always been the case even when there were more options.

[DColeKC]

Exactly. They incentivize their workforce to not leave the building. We need downtown employees spending money downtown.

Of course, what fast places are left in the district besides Chipotle? Burger King gone. Mixx gone. Mama's gone. I guess more H&R Block people eat at the grocery store than anywhere. Of course, most places want a drive thru. Not sure why a local place like Hawaiian Bros wouldn't work or a good version of Panera.

Would love a Hawaiian Bros, Tropical Smoothie, Torchy's or Unforked/SweetGreen in P&L

Quick lunches that I can grab and then run back to my desk are tough in P&L

Agree. I do know Hawaiian Bros was talked to by PNL leasing people. Picklemans has been a fantastic add!