Checking in on shipping activity in Ca. ports

1 | As reported by PIERS/The Journal of Commerce, U.S. containerized imports grew 5% in a year-over-year analysis performed in November 2011.  Substantial growth in home sales and demand for home furnishings|appliances helped influence the rise in inbound shipments. (more)

2 | Emulating the positive growth in overall U.S. import data, the Port of Los Angeles (CA) released year-over-year statistics for December 2011 displaying a 6.37% increase in loaded inbound TEUs (Twenty-foot equivalent units).  Total annual TEUs including imports and exports increased 1.39% from 2010 (7.83 million) to 2011 (7.94 million). The Port of Los Angeles reached a peak of 8.47 million total annual TEUs in 2006. (more)

Thank You, Veterans

Thank you to our employees, and their family members, who have served, or currently serve, as members of our nation’s military.

To “our” veterans, and all who have served, we are honored by your commitment and sacrifice.

Big moves highlight third quarter

By Susan Smith, Vice President Sales & Leasing

The Kansas City Office market displayed lower rental rates in the third quarter as landlords balanced lease term profitability with space inactivity.

Rental rates, based on a quoted full-service basis, dropped an average of 4.25 percent in all seven submarkets from Q3 2010 to Q3 2011.  As landlords continued to prioritize filling vacant spaces at the expense of short-term profitability, the third quarter realized several sizeable transactions and announcements.

Positive announcements better than meager stats

By Debora Field, Vice President Sales & Leasing

Lower vacancy statistics alone aren’t impressive, so certain headlines and announcements are needed to generated a more positive outlook for the Kansas City office market. One major announcement doesn’t affect the numbers yet, but does spark a positive outlook.

Artist’s rendering of the new Polsinelli Shughart headquarters located at the former Plaza West Edge site.

The law firm, Polisinelli Shugart PC, announced last quarter they were taking over the much-maligned West Edge project, which translates into more vacancy for two Class A towers — one downtown and one on the Plaza. At the same time, its move-out replaces the anticipated vacancy that was to be created by the original West Edge developer, Bernstein Rein.

Polsinelli’s announcement creates an almost statistical wash in vacancy but the highly visible project now has a key tenant which is not only a positive for the Plaza submarket, but also settles a project conundrum. Developers Caymus and Van Tuyl will make West Edge ready for a 2013 occupancy, giving owners of the current Polsinelli space time to backfill its vacancies.

What we learned from giving back

It’s been just about a month since we wrapped up our “Kicking Cancer in Kansas City” fundraiser. In April we set out to raise $10,000 to support The University of Kansas Cancer Center’s campaign to obtain the National Cancer Institute (NCI) designation. Two weeks ago, we presented a check at Zimmer’s quarterly all-company meeting. We were proud and humbled at the same time. Our calculators have burnt out, but in the end, Zimmer’s employees, with the support of the Kansas City community, raised $11,300!

South Johnson County attracting large office users

Despite the recent announcement that Applebee’s will be moving its corporate office to 8140 Ward Parkway in Kansas City, MO, the Johnson County Office Market continues to attract large users.

For the first half of 2011, the South Johnson County Market experienced significant positive absorption with large deals including Dex One leasing 63,000 square feet at the old Chrysler Financial Building and UnitedLex moving into 24,000 square feet at the Sprint Campus.  Other tenants making the move to The Campus this year have been KeyBank (66,000 SF) and MIQ Logistics (42,000 SF). In addition, FishNet Security announced in July their intent to relocate from downtown Kansas City, MO to The Campus by leasing 63,000 square feet. 

Big picture views help match tenant and correct business deal

Don’t lose sight of the big picture. That seems like a simple piece of advice. But when balancing the day-to-day responsibilities that come with operating a successful business and the chore of finding the perfect space to keep that business running at top performance, keeping the big picture in mind can be a tough task.

For Zimmer’s leasing team, the key to a successful move to new space lies in creating and adhering to an effective map.