Block & Company Quarterly Report - 2nd Quarter 2020

July 15, 2020

Letter from President David M. Block

The second quarter of 2020 has been one of the most challenging times in modern day history. There have been a multitude of major events that have motivated the United States and the entire world to focus on the COVID-19 pandemic. This virus has virtually affected all aspects of our industry. Most of which have had a negative impact on the economy over the last four months.

Block & Company has been extremely proactive as it relates to our tenants and clients with our leasing and property management efforts in order to minimize potential long and short term problems that have arisen due to the pandemic and the inability for much of the population to work, shop, and eat out.

Thankfully, our staff, infrastructure, and technological capabilities have allowed us to stay prepared and effective with remote operations and communications from the safety of our office and homes. Our ability to closely monitor and respond to the needs of our tenants, clients, and properties has allowed us to maintain the property values and health of our managed real estate portfolio.

One major positive to come out of this difficult time has been the strong relationships we've established with many of our small business tenants across the region. A part of the success of our company can be credited in large part to the success of the tenants that occupy our properties and centers. We've been fortunate enough to provide them with the necessary tools, resources, and assistance to stay in business.

Recently, our real estate activity seems to be recovering well as it relates to lease-ups, renewals, and property inquiries. There has been a substantial amount of new companies to speak of who are looking to enter the Greater Kansas City market and we are excited about these new opportunities that will fill many of the pandemic-related vacancies in the coming months.

I'm very thankful that our staff and brokerage have remained healthy and safe during the pandemic and I'm extremely proud of how well our teams have adjusted to the current working environment.

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