The Rise of Commercial Real Estate in Kansas City
March 30th, 2022 · 2 min read
If you paid attention to the national real estate market last year, you couldn’t have missed Kansas City’s stellar performance. With their 2020 trend of demand eclipsing supply holding steady into the subsequent year, 2021 saw an acceleration of investment activity, a significant number of commercial transactions taking place, and a fantastic appreciation rate for all property asset classes.
68.6% of the commercial transactions that took place in the city’s metropolitan area, which is the fifth-largest Midwest market in sales volume, were multifamily and industrial. Over six thousand new multifamily units were delivered to the area in time for an 8.4% increase in asking rents, which averaged $1,093 per unit. The sales price for units averaged $131,000. On the industrial side, the city exceeded 300 million square feet, and they now rank as the 16th largest industrial market in the U.S.
While some projected the market would cool towards the end of the year, by the fourth quarter close, sales volumes were $3.4 billion – 13.1% higher than 2020. Though capitalization rates decreased pulling into Q4 with the top quantile recording 4.0%, at a general rate of 5.4%, Kansas City was still outpacing many other regions.
For the best chance of closing a real estate financing deal in Kansas City on your terms, look no further than Terrydale Capital. Our team consistently goes above and beyond to secure the best possible refinancing terms for our clients amidst lending restrictions, market volatility, and a lack of experience. Whatever you need, we close the gap.
To get insights in the local market with local deal makers call Max Laitner at (816)-466-5675. Max heads our Kansas City office and is a native that is working on off market deals.
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