OVERLAND PARK, KS-Axxcess Realty Advisors LLC, based in Newport Beach, CA, was recently named by a private family investment group in that state to manage two office properties here. The group owns Creekview Corporate Center and Highland Corporate Campus, both located in this Kansas City, MO suburb.
Craig Morris, Axxcess CEO, had previously been managing the two properties for the family as he worked at a smaller firm in California. 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 family rehired 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 as Gentiva, Accredo and Thrivent Financial. Both were developed by the Opus Group less than 10 years ago. “The effective lease rate at the complexes is in the $19 per square foot range, depending on the nuances of the deal and the tenant,” Morris tells GlobeSt.com. “We’ll probably sign two new leases in the next 30 day, as well as a large renewal.”
He says the family acquired the properties in 2006 because of the stability of the local office market. “The Midwest market, especially in the Kansas City area, is just not as volatile as the coasts, the markets here do a good job of staying within the goal-posts. There’s not a lot of threat of overbuilding, a supply stays in line with demand,” Morris says.
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