Evergreen Real Estate Services was contracted to market and sell this two building, six-story, 175,252 Sq Ft complex in a tough economic environment. We saw it as a historic tax credit residential conversion opportunity. We presented the opportunity to a myriad of developers and it went in and out of contract until the Fall of 2015 when MCM Company of Cleveland, OH came to terms with the seller. Conversion into apartments begins the first quarter of 2017.
Evergreen represented the sellers of this five building, 177,703 Sq Ft complex at 1515 W 9th in the sale to MCM Company for a historic tax credit residential conversion. It closed February 2016 simultaneously along with the buildings at 925-937 Wyoming.
Westport Glass, located at 625 Southwest Blvd. was busting at the seams in the summer of 2016. Their plate glass and their art glass business' were both growing. Robert Dugan, President of Westport Glass, contacted Pat in the fall of 2016 to ask for representation in the purchase of a new building located down the street at 901 Southwest Blvd. Pat negotiated the purchase and coordinated inspections. In addition, upon closing Pat coordinated the installation of a new 10' x 14' overhead grade level drive-in door.
Pat represented the buyer of 811 E 31st Street in her search for a live / work building for her studio. After exploring a handful of properties from the River Market to Midtown, she settled on 811 E 31st. We had a smooth inspection / due diligence period and closed in the Spring of 2016.
Pat attempted to list and market 1500 St. Louis, KCMO for years with no interest from the owner. With a historic tax credit developer's interest in 2015, Pat drafted a purchase and sale contract and delivered to the owner's door. The elderly gentleman remembered Pat. He opened the envelope, read the contract and said, "Well that's more than I paid for it." Pat coordinated a smooth closing with distribution of the funds equally divided between the seller and his four adult children.
MPress, with it's headquarters at 1715 Baltimore in the heart of the Crossroads, was interested in getting into large format printing in the Fall of 2015. The President of MPress contacted Pat to ask for his assistance in securing a facility to lease in the geographic area from North Kansas City to Midtown. After reviewing a dozen properties, MPress chose 1700 Broadway; walking distance to their existing facility. Pat negotiated the lease including tenant improvements, separation of entries and utilities from the building owner's business.
Their banker referred the owner of Freedom Companies, a contract furnishing business, to Evergreen in the Summer of 2016. Freedom's geographic location and building program requirements made for a tough assignment. After eliminating the possibilities in the River Market and Crossroads, we expanded our search area. Pat had to talk Freedom's president into looking at 4000 Washington due to the geographic location not being their first choice. It turned out to be a perfect fit for their building program needs. Freedom closed in January 2017.
Evergreen represented the Wirkin Family Trust in the sale of their 1,843 SF building at 216 W. 73rd in 2013. When Mr. Wirkin decided to retire in 2015, he engaged Evergreen to sell his 10,940 Wirkin Electric facility. We priced the property at the top of the market due to the scarcity of similar light industrial product in the Waldo sun-market. With a lot of interest over of a year marketing, it sold at 90% of asking price in the Spring of 2016.
Evergreen represented the Owner of the Brookfield Building in the sale to Sunflower Development in late August of 2014. Sunflower hired Evergreen to sell / flip the building the day after they closed on it. We began marketing immediately to other developers that had previously shown an interest. It went back under contract in January 2015. After allowing for several due diligence extensions for additional earnest money deposits, the property sold again in June 2016. The historic tax credit developer began work in the Summer of 2016 on a nine story, 113 room Indigo Hotel with the top three floors being developed as 27 luxury apartments.
The owners of the commercial condo at 700 Broadway had no success with the previous two brokers they hired to sell their property. Commercial condos are a tough sell. Evergreen was engaged in the Spring of 2015 and began the marketing process by talking the owners into cleaning up their offices and getting rid of random boxes, samples, marketing materials, etc. Wow, what a difference. The first impression went from "what a mess" to "Wow! This place is cool!" The property sold to an advertising firm in February 2016 for 95% of the asking price.
Pat received a sign call on a neighboring property in late 2015 asking him to give his opinion of value on 100 S. James, KCKS. Evergreen got the listing in January 2016. Priced right, this simple drive-in access, free span building received a lot of interest from the start. Pat negotiated with Union Pacific Railroad to secure the adjacent property for outside storage for the property. The building went under contract quickly and closed in July 2016.
At the beginning of 2016, senior management of Fogel-Anderson Construction Co. was negotiating to buy the business from their boss. At some point in their negotiations, management determined it might be in their interest to buy the real estate as well. They contacted Evergreen to provide an opinion of value on the real estate. With the opinion of value in hand and sale price agreed upon with their boss, Pat was engaged to negotiate the details of the transaction, draft the purchase and sale contract and coordinate the closing.
The buyer of 811 E. 31st Street invited her parents to review the short list of properties she was considering purchasing. Her dad called me the day after we toured several buildings. He let me know his daughter was not interested in 3400 Troost but he was. The property is a sound investment for him. The building is nicely improved with new storefronts and mechanical systems in place. It's also 90% leased with long-term tenants that love the building.
Evergreen Real Estate Services represented a Keller Williams residential real estate broker in their lease of 1724 Main. The broker had settled on this building and this particular space but was not comfortable negotiating a commercial lease. This location has turned out to be a great move for them. They're enjoying great exposure being on the streetcar line in the heart of the Crossroads.
The buyer of 811 E. 31st Street referred Pat to a friend of hers looking to open a Vietnamese street food restaurant. When Pat received the call from the restauranteur and heard his requirements, he knew he had a possible fit. The owner of Thomas Restaurant at 1815 W. 39th had been attempting to sell his business and Pat knew this. Just about this time, the Thomas owners shut their doors, papered up the windows and told the public they were closed for remodeling. Pat called the building owner directly. Pat negotiated a good lease for both the owner and the tenant. The tenant did substantial building interior, exterior and kitchen improvements with agreed upon reimbursement by the owner.
LEASED - 1650 Oakland
There are a lot of tire related warehouse facilities in the Kansas City area. Evergreen has represented various businesses in leasing warehouse and service facilities. The 15,000 Sq Ft facility at 1650 Oakland is a blend of both. The tenant is an international business that services fleet trucks across the country and in several areas of Asia. This warehouse is a perfect fit providing dock-high and drive-in loading in a central location with easy access to I-435 and 71 Highway.