KCRag Forum

Academy Bank is now open.

When's this place supposed to open?

When the city let's them.

Phase 2 looks great. Any office tenants yet?

WeWork made its largest deal to date in the Kansas City market, leasing 11,000 square feet of flexible office space to Unite Private Networks (UPN) and its more than 200 employees at its Corrigan Station facility.

UPN is a leading provider of high-capacity, fiber-based communication networks. In a release, UPN said it will use the WeWork space by offering an employee-focused hybrid work model that lets the individual decide where to work. In 2015, UPN moved from Liberty to 15,000 square feet in Zona Rosa, one of seven U.S. locations at the time.

“We’ve seen a 113% increase in All Access bookings in Kansas City from May to July,” Wullschleger said. “An All Access member who lives nearby Corrigan Station could work from there one day, head Downtown for meetings and work out of Lightwell the next, and then fly to New York City and work from any WeWork there the following day and have virtually the same office experience throughout.”

https://www.bizjournals.com/kansascity/ ... ybrid.html

earthling wrote: ↑Tue Aug 31, 2021 3:04 pm WeWork made its largest deal to date in the Kansas City market, leasing 11,000 square feet of flexible office space to Unite Private Networks (UPN) and its more than 200 employees at its Corrigan Station facility.

https://www.bizjournals.com/kansascity/ ... ybrid.html

This appears to be an HQ move from the suburbs to downtown. SQFT leased is abysmall for the number of jobs but will allow these tech workers to live downtown and walk or streetcar to work. We need alot more of these if we want to continue the growth of downtown.

About Unite Private Networks:

UPN’s current investors include Cox Communications, Ridgemont Equity Partners and the company’s employees.

UPN currently serves over 300 communities across 21 states, with 10,000 fiber route miles and 7,500 end customer sites.

https://uniteprivatenetworks.com/about-us/

normalthings wrote: ↑Tue Aug 31, 2021 3:36 pm

earthling wrote: ↑Tue Aug 31, 2021 3:04 pm WeWork made its largest deal to date in the Kansas City market, leasing 11,000 square feet of flexible office space to Unite Private Networks (UPN) and its more than 200 employees at its Corrigan Station facility.

https://www.bizjournals.com/kansascity/ ... ybrid.html

This appears to be an HQ move from the suburbs to downtown. SQFT leased is abysmall for the number of jobs but will allow these tech workers to live downtown and walk or streetcar to work. We need alot more of these if we want to continue the growth of downtown.

UPN’s current investors include Cox Communications, Ridgemont Equity Partners and the company’s employees.

UPN currently serves over 300 communities across 21 states, with 10,000 fiber route miles and 7,500 end customer sites.

Probably gonna see a push for a lot less sqft per employee as hybrid working settles in

^Yeah, small space for over 200 employees sounds like most working from home with hybrid option to use a WeWork space as desired/needed and also for team meetings.

Will be interesting to see if WeWork, PlexPod, etc grow downtown space as flex space is gaining ground with the WFH hybrid picking up. What's yet to be determined is what % of companies new to WFH hybrid stick to this long term. My guess is over 30% long term. Potentially bad news for daytime foot traffic if more than that but maybe being offset some by more downtown residential of whom many may be WFH.

Corrigan Station 2 has a permit for 2nd floor fit out. Hunt Midwest Real Estate is listed as the Developer

additional Hunt Midwest permits

https://compasskc.kcmo.org/EnerGov_Prod ... b=contacts

Looks like Hunt Midwest will be opening an office on the 2nd floor.

The new Hunt Midwest space can support over 40 employees. It will provide options for corporate services team members to work from downtown based on daily workload. Building permits issued by the city indicate the second floor build-out cost is $1.16 million.

https://cityscenekc.com/hunt-midwest-ta ... tation-ii/

Building has emptied out:


Second Floor: 11,150 RSF Office Space Available
Third Floor: 11,177 RSF Office Space Available
Fourth Floor: 11,158 RSF Office Space Available
Fifth Floor: 11,153 RSF Office Space Available
Sixth Floor: 11,149 RSF Office Space Available

Wow... That's a lot of space.

Saw WeWork is consolidating to Lightwell

https://www.startlandnews.com/2024/03/w ... n-station/

3rd through 6th floors were WeWork. I guess their exit has been known for a while, and Vince has several interested parties. Even so, I'm sure it won't help Grand Place's office lease up with the need to get Corrigan leased back up.

Both projects asking $35/SF/YR, top of entire metro market... Only Lightwell downtown is close.