OVERLAND PARK, KS-Axxcess Realty Advisors LLC, based in NewportBeach, CA, was recently named by a private family investment groupin that state to manage two office properties here. The group ownsCreekview Corporate Center and Highland Corporate Campus, bothlocated in this Kansas City, MO suburb.

|

Craig Morris, Axxcess CEO, had previously been managing the twoproperties for the family as he worked at a smaller firm inCalifornia. He’s also handled property management for both Grubb& Ellis and Cushman & Wakefield. In his move to Axxcess,Morris said he brought these two properties over. “The familyrehired me,” he says.

|

The 112,750-square-foot Highland, at 10740 Nall St., is 86%occupied with tenants such as Verizon, ING and FCB Bank. Creekview,a 121,475-square-foot building, is 91% occupied by tenants such asGentiva, Accredo and Thrivent Financial. Both were developed by theOpus Group less than 10 years ago. “The effective lease rate at thecomplexes is in the $19 per square foot range, depending on thenuances of the deal and the tenant,” Morris tells GlobeSt.com.“We’ll probably sign two new leases in the next 30 day, as well asa large renewal.”

|

He says the family acquired the properties in 2006 because ofthe stability of the local office market. “The Midwest market,especially in the Kansas City area, is just not as volatile as thecoasts, the markets here do a good job of staying within thegoal-posts. There’s not a lot of threat of overbuilding, a supplystays in line with demand,” Morris says.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.