Block & Company Quarterly Review - 2nd Quarter 2023

July 19, 2023

Letter from President David M. Block

I am pleased to announce that 2023 is shaping up to be another banner year at Block & Company, Inc., Realtors. Throughout the pandemic, new construction and development activity seemingly came to a standstill in the restaurant and retail sectors of commercial real estate. However, since the start of 2023, we've seen a major resurgence in those sectors despite the higher interest rates. National, regional, and local companies are actively looking once again to expand throughout the Greater Kansas City marketplace. The current high demand has caused much lower availability of space for lease, as well as a lower inventory of buildings for sale, which has sparked new development activity.

I'd like to congratulate and thank our brokerage team for all of the hard work and great results seen up to the midpoint of 2023. I'd also like extend my appreciation to our construction and property management divisions, who have done a fantastic job providing the highest level of service to our new and existing client
base.

Lastly, I'd like to encourage everyone at the firm to continuously explore new opportunities to engage with local charities and causes in our community when possible. Everyone has done a great job so far - keep up the good work.

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