Block & Company Quarterly Review - 3rd Quarter 2022
October 24, 2022
Letter from President David M. BlockWithout a doubt, the third quarter of 2022 has been a transitional period in the market mainly due to the continued increase in interest rates and cost of goods which is directly affecting nearly all industries in the United States. However, thanks to our investor base and sales team, Block & Company has weathered the rate hikes fairly well as it relates to property sales and leasing activity. Overall, we expect 2022 to be a record breaking year and with new challenges, comes new and exciting opportunities. Developer and investor interest in vacant ground continues to stay high despite the rate hikes. More motivated sellers are looking to offload their properties which is fueling the buyer's market and their interest in new land acquisitions which we expect to stay steady for the remainder of the year.
We continue to see a substantial amount of leasing activity from both new and existing companies in the Kansas City marketplace which will further solidify a strong end to this year. I appreciate all of the hard work from our sales team in their aggressive search for new and exciting opportunities for our clients.
Block & Company continues to be closely involved with numerous charities as we head into the holiday season and I'd like to encourage everyone to get involved with a charitable cause you are passionate about to make a difference in the community this holiday season.