Whew….. What quarter!!!!!!!! Between Kansas Jayhawks basketball and the United States economy, the first quarter of 2008 was fast paced with many unexpected twists and turns and it looks like there is no slowing down…at least figuratively.
Whew….. What quarter!!!!!!!! Between Kansas Jayhawks basketball and the United States economy, the first quarter of 2008 was fast paced with many unexpected twists and turns and it looks like there is no slowing down…at least figuratively.
Our congratulations go out to the Kansas Jayhawks basketball team and their many, many fans in the Kansas City area. For those not quite as enamored with college basketball, the Hawks victory did more than just bring a national championship to the Heartland. It focused an entire nation’s attention on the Midwest and Kansas City and allowed an underdog team to see that dreams really can come true. You can’t buy that kind of publicity and positive public relations.
Moving at a little slower pace is the U.S. economy which is now taking a breather after a number of years of expansion and high paced growth. While unpleasant for some, this break is probably needed and our expectation is that we will emerge a stronger and more vibrant economy over the next 12-24 months. Through out the country, prices did tend to get out of hand, credit was almost too easy to come by and many investors thought that real estate investment was a simple game. It’s not!! What goes up must most always come back down and real estate is no different. The key is a soft landing and only time will tell about that.
In Kansas City, all eyes are on a huge project of Bombardier, the Canadian aircraft manufacturer who recently announced plans to open a plant to build a more fuel efficient regional commercial aircraft. Kansas City is one of two cities under consideration and a decision is expected some time this summer. Creating over 2,000 jobs and untold supplier jobs, this would be tremendous boost for our local economy and change the face of the Kansas City economy for years to come.
Zimmer is also connected to another “international” play in real estate. Partnering with CenterPoint Properties and the Kansas City Southern Railway, Zimmer is marketing the new CenterPoint-KCS Intermodal Center in southeast Kansas City. Bringing international freight into Kansas City from Asia via the Mexican port of Lazaro Cardenas will be sure to have an impact on the distribution patterns in Kansas City like nothing we have ever seen before.
Despite a slowing economy, there are still many opportunities in commercial real estate from both an investment and owner-occupied standpoint and speaking on behalf of the over 65 professionals at Zimmer, we would welcome the opportunity to discuss those opportunities with our many clients and friends. Feel free to call any of us, any time, anywhere to arrange a meeting. We appreciate the opportunity to be a part of your real estate program.