Kansas City Office Space

Kansas City Office Space Review and Info:

Kansas City, Missouri is having its share of problems when it comes to office space for rent and lease (commercial building, business park listings, executive suites). The Central Business District has a high vacancy rate (23.2%) and low rents ($20.92 per square foot). This has led to several projects originally scheduled to start in the last year being placed on indefinite hold or canceled altogether. Prices and availability will vary depending on your lease terms (monthly, long term, etc.) desired amenities, and location. We service Council Grove, Crossroads, Gladstone, Platte City, Liberty, Harrisonville, and Overland Park. However, officials are hopeful that at least two proposed downtown commercial Kansas City office space tower buildings may go through, and the long-awaited Downtown Convention Center Hotel seems poised to break ground as soon as the choice of a site can be finalized, although the 2011 completion date may be in question. The 1,000 room hotel, which would rise 40 floors, is still being subjected to analysis by the city. The new hotel is part of a major expenditure by the city to revitalize downtown. A second key component was the construction of The Kauffman Center for the Performing Arts, scheduled to open in December, 2009. Costing an estimated $400 million, the Center will be home to the Kansas City Ballet, the Lyric Opera, and the Kansas City Symphony. K.C. is a growing city and if you need an office in a bigger metro market try Chicago, Miami, or Las Vegas.

Kansas City, Missouri Economy and Real Estate:

Another beneficiary of the city’s expenditures is the Kansas City Power and Light District. This eight block entertainment district offers nearly 50 restaurants, clubs, shops, and theaters. Included within the District is KC Live, a two level indoor “entertainment mall” that encompasses an entire block. For those seeking quieter attractions, Kansas City offers a wide variety of museums, such as the National World War I Museum, the Airline History Museum, and the American Jazz Museum. The downtown area also boasts one of the most unusual attractions in the region, the Arabia Steamboat Museum. (In 1856, the Arabia, fully loaded with supplies, sank in the Missouri River. Eventually, the river changed course and the steamboat was buried; when unearthed in 1988, it was found that the cargo was amazingly well preserved. For more news on local real estate news check out our office space articles page. Kansas City is famous for barbecue, and there are nearly 100 barbecue restaurants in town, most of them offering the Kansas City style sauce sweetened with molasses. But there are also fine-dining establishments, as well as those specializing in Italian, Mexican, and American casual. The downtown area alone has more than 200 restaurants, not to mention an endless supply of large and small Kansas City office spaces for rent.

KC Companies, Population and Unemployment Rate:

Economically, Kansas City is suffering (unemployment is 10.9% and job growth is a negative 2.7%) but its diverse business base has helped to minimize the damage which in turn helps keep the market for Kansas City office space alive. The city is home to a wide range of interests, from manufacturing to agriculture, and companies range from Hallmark to Dairy Farmers of America. Several Fortune 500 and Fortune 1000 companies are headquartered here, including Russell Stover Candies and Sprint Nextel Corporation. There are also international law firms, major engineering and financial companies, and federal agencies based in the area, and Kansas City has one of the Federal Reserve Banks. With a population of approximately 452,000 (up 1.3% since 2000), Kansas City has a high crime rate (96 per 1,000 residents). Whether compared against cities of all sizes or towns of a similar size, Kansas City does not rank well. However, certain areas are more crime-ridden than others, and efforts are underway to bring the trouble spots under control.