Hail damage attracts construction companies

The recent storms that caused widespread hail damage in Olathe, Kansas and Lee’s Summit, Missouri have attracted many companies to temporarily open locations in the Kansas City area. The storms produced hail that were as big as golf balls and caused damage to roofs, siding, windows, and just about everything in its path. The worst hit areas are around 155th street in Olathe, Kansas and East of Longview Lake in Lee’s Summit, Missouri.

Axtell & Co. has helped many companies acquire temporary office and warehouse space in and around the Grandview, Missouri area to service these hard hit areas. Grandview is located between Olathe, Kansas and Lee’s Summit, Missouri making it an ideal base of operation. This location has quick access to both areas, many available locations, and low rental rates compared to Lee’s Summit and Olathe.

Another round of severe storms is forecasted to bring even more hail damage to the area tomorrow.

If you are considering opening up shop in Grandview or anywhere in the Kansas City area, let our team of experts help you find a good location. Give us a call at (816) 331-3800 or email us at dhunter@axtellco.com.

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Prime Grandview Retail Spot available for sale

Great Retail spot for sale with excellent visibility to 71 Highway which carries about 70,000 vehicles per day.  Sign is easily visible from Highway and frontage road.  Over 3,000 square feet and 26 parking spots to get your business rocking!  Just North of Main street in Grandview Missouri.  Get more info at Grandview’s commercial real estate site.

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Borders to close another Kansas City store

As mentioned in a previous post, as of March 14th, Borders only planned on closing 1 of the 5 Kansas City area stores. On March 18th, they announced that they would be closing the store at 9108 Metcalf Ave. in Overland Park’s Regency Park Shopping Center in late May.

Although this isn’t great news for Kansas City Commercial Real Estate, many other metro areas were hit harder by the store closings. So it could signal that leadership at Borders is optimistic about the Kansas City market.

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Tax Relief

Normally if a borrower is foreclosed upon or a loan is modified due to a possible foreclosure, that reduction in debt is considered income and is taxable. Thanks to the Mortgage Forgiveness Act of 2007, that income is not taxable. The law covers foreclosures and modifications that occur in the years 2007-2012. Up to $2,000,000 can be excluded per year. Commercial real estate is excluded, as only primary residences are included in the act. The relief can be claimed using IRS form 982.

As always, consult your accountant or CPA.

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Borders to close 20-75 additional stores

Mike Edwards, Borders President, announced that it is exploring closing 75 additional stores. Depending on the success of negotiations with landlords, the number may be closer to 20 to 25 closings. They intend to announce the details in early April. Their goal is to exit bankruptcy in August or September, just in time for the holiday selling season.

When Borders filed for bankruptcy protection on February 16th, they announced the closing of 200 stores, bringing their total down to 433 stores. Although they closed 8 superstores in Kansas and Missouri, the Kansas City Commercial Real Estate impact was minor, as only one store was selected to be closed, the Barry Road location in the Northland. Four Kansas City area Borders superstores survived the first round of closings.

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Grandview, Missouri population declines 1.6%

The 2010 US Census data shows the population declined from 24,881 people in 2000 to 24,475 people in 2010, a decrease of 1.6%. This should have little impact on the Grandview Commercial Real Estate market.

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Belton, Missouri population grows 6%

The 2010 US Census data shows the population grew from 21,730 people in 2000 to 23,116 people in 2010, an increase of 6% This is good news for the Belton Commercial Real Estate market.

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Lee’s Summit, Missouri Population grows 29%

The 2010 US Census data shows the population grew from 70,700 people in 2000 to 91,364 people in 2010, an increase of 29% This is great news for the Lee’s Summit Commercial Real Estate market.

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Raymore, Missouri Population increases by 72%

The 2010 US Census data shows the population grew from 11,146 people in 2000 to 19,206 people in 2010, an increase of 72% This is great news for the Raymore Commercial Real Estate market.

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Consumer Confidence Index improves again!

Consumers feel that the economy is improving. That should lead to more spending, which will lead to an improved Kansas City Commercial Real Estate market.

Says Lynn Franco, Director of The Conference Board Consumer Research Center: “The Consumer Confidence Index is now at a three-year high, due to growing optimism about the short-term future. Consumers’ assessment of current business and labor market conditions has improved moderately, but still remains rather weak. Looking ahead, consumers are more positive about the economy and their income prospects, but feel somewhat mixed about employment conditions.”

You can check out the actual data here.

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