Block & Company Quarterly Review - 4th Quarter 2022

January 20, 2023

Letter from President David M. Block

Block & Company, Inc., Realtors is proud to announce that 2022 was another banner year for all departments and teams at the firm. This includes sales & leasing activity, investment acquisitions & dispositions, tenant representation, new property management assignments, and several new construction management projects.

Block & Company experienced a tremendous amount of post pandemic sales & leasing activity within the restaurant, retail, hospitality, and vacant land sectors this year. Many new and existing companies, both local and national, saw the current economic climate as an opportunity to expand their presence throughout the KC metro area and Midwest. The acquisition of existing buildings as well as redevelopment opportunities were a major strong point and a hot ticket item in 2022.

The majority of Block & Company's vacant inventory in virtually all sectors of commercial real estate has been sold or leased over the last 12-24 months. This includes our freestanding buildings, anchor and junior anchor space within our leased and managed shopping center portfolio. Our brokerage team continues to be diligent in their pursuit of finding new and innovative opportunities to increase new real estate inventory and fill existing vacancies.

Our property management portfolio has also shown strong growth as has our rapidly expanding investor clientbase. To remain prepared for this growth activity, we have brought on a number of new and talented accountants, property managers, and agents to satisfy these needs.

We anticipate 2023 will be another outstanding year of growth for our company, Greater Kansas City, and the Midwest Region. I'd like to thank all of our clients and investors for their continued trust and confidence in Block & Company. I'd also like to thank our brokerage and staff for all of their hard work which has made all of this success possible.

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