Block & Company Quartlery Report - 4th Quarter 2018

December 31, 2018

Block & Company Quartlery Report - 4th Quarter 2018

Letter from President David M. Block
I would like to start out by thanking all of our employees, consultants, and brokerage group on the fantastic work they put forth in 2018.

The spirit of entrepreneurship is alive and well in Kansas City and at Block & Company. It has been fascinating to observe the growth and transformation that is occurring specifically within the restaurant and retail sectors of commercial real estate. Our restaurant brokerage portfolio is expanding even further with the influx of new and exciting food concepts continuously emerging. We've also seen a major transition in the retail sector of our brokerage portfolio with several new tenants who have brought a unique approach to the entertainment sector. Online-based retailers, as well as family owned and operated retail users, continue to be incredibly active with filling vacancies in shopping centers throughout the region.

Another thrilling aspect is that our existing tenants in these centers have benefited greatly from the increased traffic flow from these new users.

Block & Company's Hotel Division saw tremendous activity this year with multiple sales and new construction projects in developments throughout Greater Kansas City. Our Construction Management Division completed a number of renovation and groundup projects this past year and continues to gain momentum with several new projects lined up for 2019. 2018 was a very active year again for new investment sales and 1031 tax free exchange deals. New opportunity zone designations look to be a another great investment vehicle full of opportunity in 2019.

There is much excitement involving the firm's prospects for 2019 and we owe it all to our people on the ground working day in and day out who have built this company into a 73 year old commercial real estate institution serving Greater Kansas City
and the continental US.

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