Chris Kamberis – Talks About Keeping Updated with the Real Estate Trends
Chris Kamberis, president of CTK Real Estate, has pointed out the aspects that professionals pay attention to when investing in commercial real estate. Locally, the Kansas City, MO, unemployment rates continue to lower from 2009 levels of 10.9% to its current 6.3%. Kamberis feels that the drop in unemployment and strong fundamental trends are helping support the robust Kansas City real estate market and driving property prices upward. The success of CTK Real Estate has been based on its process of examining and analyzing all aspects of the potential property development projects, from local vacancy availability and its proximity to amenities, to trends in rental yields.
Vacancy rates provide an overall view of the supply and demand for commercial real estate in a given location. However, investors also require knowledge for which projects are currently underway and will increase the supply of property and the relative appeal of each building. Chris Kamberis highlights pedestrian traffic as providing a boost in the attractiveness of commercial properties. CTK Real Estate uses its detailed knowledge of the market in Kansas City, which allows them to interpret trends and identify the next successful project. “The reinvigoration of the downtown districts has kept commercial properties leaving the rental books in those areas, and vacancy rates continue to be low for properties around the Plaza and other downtown areas,” says the CTK Real Estate founder.
Trends in rental yields are also an important indicator of the overall direction of the property market and help support the initial investment into the project. However, the necessary knowledge comes from the details in each property, including the proximity to the amenities that can be useful such as transport routes, parking, recreational spaces, and other facilities. Equally, the quality of the property can be a factor, with new and attractive buildings often getting a premium above the market average for properties of a similar size. CTK Real Estate possesses a premium of experience in the commercial market, allowing it to target well-positioned properties for developments. Chris Kamberis has examined the underlying trends in rental yields and has found strong growth for new commercial properties with modern amenities, noting that high premiums are made for modern foyers and meeting rooms, as well as staff break areas and bathrooms. These can help attract businesses towards more property as they are more likely to invest in facilities that boost customer confidence and staff morale.
The strongest property trends actually sit outside the direct property market data and include the overall population growth, employment statistics, and business performance. All three of these factors show the willingness of new businesses to decide on a location and the willingness of existing business to expand their operations. Kansas City has continued to show extremely good fundamentals with declining unemployment, increasing population growth at the rate of 3.1%, and business confidence, which has continued to rise across the Midwest.
Chris Kamberis is the Founder and President of the CTK Real Estate, a top commercial Real Estate Development Company based in Kansas City. He oversees projects on behalf of each of his clients, and has a solid track record for accurately recognizing movements in the real estate market and for optimizing potential for everyone he works with, including Starbucks, Bank of America, and other Fortune 500 companies.
Opus Development plans 256 apartments over retail in Westport: http://www.bizjournals.com/kansascity/news/2017/03/06/opus-development-westport-256-apartments-retail.html
New Westport player flips one of his properties for Opus’ redevelopment: http://www.bizjournals.com/kansascity/news/2017/03/07/ctk-group-developer-chris-kamberis.html