Vatterott College signs 12-year lease on Hunt Midwest campus
An aerial view of Hunt Midwest's Commerce Center. Image via Hunt Midwest.
Vatterott College recently inked a 12-year lease on a build-to-suit campus located in Hunt Midwest?s Commerce Center.
The $9.5 million project is located on more than 7 acres of land near Interstate 435 and Parvin Rd. Hunt Midwest hopes to get a permit for expedited construction from the City of Kansas City, paving the way for the 65,000-square-foot building to be completed by the end of the year.
During the search for a new space, St. Louis-based Vatterott College was represented by Greg Swetnam and Miles McCune of Kessinger/Hunter & Co., LC. The college?s new building will include classroom space, as well as retail and automotive training centers.
According to Vatterott College?s website, the school provides ?career training to students seeking career skills for a better life.? Programs of study include business, medical, technical, trades, cosmetology, dental, legal, personal fitness and veterinary. Vatterott College was founded in 1969 and currently serves 19 locations in nine states, and also offers online classes.
Hunt Midwest?s Commerce Center is a 2,500-acre master-planned development that?s adjacent to Hunt Midwest?s Subtropolis, the world?s largest underground business. The development features fully improved sites in an array of sizes to suit a variety of business needs. For more information on the Commerce Center, contact Hunt Midwest at (816) 455-2500.
Federal Reserve?s Beige Book indicates CRE activity increase
If early activity reports are any indication, 2012 is expected to be a great year for the commercial real estate industry.
Earlier this week, the Federal Reserve issued its monthly Beige Book report, which examines economic activity around the region, providing a benchmark of progress (or lack thereof) for a number of industries that include banking, manufacturing, agriculture and energy.
According to the Beige Book, ?residential and commercial real estate activity picked up in January and early February. New commercial construction increased and was expected to rise further with more projects in the pipeline. Commercial real estate prices and rents dipped during the survey period were expected to firm as vacancy rates improved.?
In addition to publishing a synopsis of recent activity, the Beige Book also includes an outlook of what?s to come in the next several months. And that outlook is optimistic for the commercial real estate industry.
?After edging up in January and early February, commercial real estate sales were expected to strengthen further during the next few months,? as written in the report.
The upswing in activity through Kansas City mirrors modest increases seen in other cities featured in the report, including Minneapolis, Richmond, Chicago and Dallas, all of which noted increased leasing.
?Commercial vacancy rates were mixed in New York, decreased in Chicago, increased in St. Louis and stayed high in San Francisco,? according to the Beige Book. ?Boston and Dallas noted limited levels of nonresidential construction, while Cleveland and Chicago noted improved nonresidential construction.?
Kansas City Convention & Visitors Association gets a new look
The Kansas City Convention & Visitor Association's new logo. Image via KC CVA.
The commercial real estate industry won?t be the only one having a big year?2012 might just be a banner year for the Kansas City metro area.
And to kick off the celebration, the Kansas City Convention & Visitors Association has unveiled a new logo and website.
?The KCCVA believes this brand will grow and strengthen Kansas City,? said CVA president Rick Hughes in a release. ?Our goal is to serve as a primary catalyst for economic growth of the Kansas City region?s convention and visitor industry.?
The logo and brand makeover were unveiled as part of new imaging that will tie into a number of high-profile events scheduled later this year in Kansas City, including July?s Major League Baseball All-Star game.
In addition to better marketing the city for major events, the CVA?s new branding efforts will also highlight Kansas City?s continuing emergence as an arts destination, evidenced by the ongoing growth of the Crossroads District, First Fridays and more recent factors, including the opening of numerous galleries in the city?s West Bottoms district. Kansas City is fast becoming ?a creative, cosmopolitan destination,? according to the CVA, yet remains ?anchored in friendly, Midwestern hospitality.?
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