This week’s MWM Broker Spotlight shines a light on Monica Enloe with Clemons Real Estate

RT (Rachel Treanor):  What was your lightbulb moment to get into commercial real estate?

ME (Monica Enloe): Prior to entering real estate, I spent almost 15 years doing philanthropic fundraising. My light bulb moment was looking around the board room one day and realizing that the people who consistently showed up with both time and money were in Commercial Real Estate. After digging in a bit, I realized that the flexibility and earning potential were worth the risk of leaving a stable career to pursue a new path. 

RT: Who is your mentor and why?

ME: I'm fortunate to have landed with Clemons Real Estate and work with Audrey Navarro. Not only is she incredibly knowledgeable about real estate, the collaborative and flexible approach to structuring deals has taught me a lot. I've also been fortunate to meet several fabulous collaborators and mentors through WIRED (Women in Real Estate Development) such as Sheryl Vickers, Joanna Shaver and Holly Mills —all of whom have helped me talk through challenges and brainstormed solutions. 

RT: Who do you mentor?

ME: I mentor small businesses on the leasing process. Many of them are not familiar with the difference between a residential and commercial lease in terms of their responsibility as a tenant. It is so important to share this information up front so expectations are managed and there is no confusion and unexpected costs later.

RT: What gets you excited to get to work every day?

ME: There are no days that are the same. Ultimately, I love that I feel like I am helping people make their dreams come to life. Whether it’s achieving wealth through passive income, buying a building for a growing business, or opening a retail store they’ve dreamed of for years—it’s exciting to be part of the process.

RT: What keeps you up at night about commercial real estate?

MT: From a micro-perspective, there are so many details that need to be overseen and taken care of to ensure the transaction goes smoothly with no surprises (which there always are!). On the macro level, our uncertain times causes stress around how the market will shift and how I can be nimble and flexible enough to shift with it and have consistent income for my family.

RT: Tell us about your current projects.

MT: My favorite projects right now are directly related to creating more walkable districts in the urban core. Union Hill is one of my favorite neighborhoods in KC and it has been exciting to add tenants like Oh! Café and Mayweather Fitness to the mix with more coming soon. I am also working on several projects on Troost and can’t wait to see them come to life. It’s a fabulous corridor with plans to hosts a mix of nonprofits, museums, restaurants, offices, and apartments. Main Street is another passion project with the street car expansion coming soon. I have several available spaces for lease that would be ideal for hair/nail salons, retail, dry cleaners, arts, and fitness users- -the possibilities are endless with the diversity of spaces available including in the newly renovated Monarch and Netherlands buildings at 39th and Main.

RT: What deal do you wish for in your future portfolio?

ME: I’d love to bring a new grocery store to midtown and have several properties that would be perfect for it!

RT: What leads do you look for?

ME: There are two categories of leads I focus on. First are building owners who want to reposition their buildings either to sell or to find new and fresh tenants. I love old buildings and watching them come back to life with historically relevant renovations is exciting. Second, are buyers and tenants with creative vision. Having clients that share my love for historic buildings but are more creative than me is entertaining and fuels my motivation to get the deal done.

RT: How can prospects contact you for more information?

ME: Connect with me on LinkedIn—I consistently post about local real estate topics and love to connect with others in the industry. Or reach out via email to set up a coffee: monica@clemonsrealestate.com

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Staying true to MetroWire Media’s focus on all things commercial real estate, we have added this as a new, feature column - MWM's BROKER SPOTLIGHT. The goal is to provide our readers with direct insight to Kansas City’s brightest, up-and-coming CRE brokers. Discover the true brains behind the build - including their professional focus, career paths, future plans, goals and more.

Know a broker worthy of the Broker Spotlight? Send details to kcnews@metrowiremedia.com.

Lenexa moves forward with sizable residential development

On Monday, the Lenexa Planning Commission approved a sizable portion of a residential development that will be located at the southwest corner of Monticello Rd. and 90th St. in the heart of Lenexa, Kan.

The planning commission unanimously recommended approval of eight out of nine items of the development, including a concept plan for the site; a preliminary plan for the Copper Creek Apartments and Townhomes on the north end; and rezoning required for nearly all components of the project.

The commission voted 8-1 to recommend approval of rezoning for the high-rise apartments.

Located on 187 acres, the proposed Watercrest South and Copper Creek project totals 1,239 housing units.

The project includes preliminary plans for 44 townhomes in seven buildings, 688 multifamily apartments in 14 buildings and 257 lots for single-family homes.

Conceptual plans were approved for the mix of a 100-unit multifamily apartment, 150 senior living units and 187,000 SF of commercial space to potentially include two hotels.

Because of the recent decline in demand for office space, previously included office space plans were removed from the city’s future land use map and replaced with additional single-family homes to the west of Watercrest Landing North.

The project also hinges on completion of Woodsonia Dr., which will run north and south through the area. City staff proposed completing the new street in one phase in conjunction with early phases of the private development, owned by Q.C. Development, P & L Development LLC. and Watercrest South LLC.

The next Lenexa City Council meeting will be held August 18, 2020, where they will continue to discuss other components of the development.

The Locale: Mission's first Class-A development

Mission, Kan. has acquired their first Class-A, mixed-use development, The Locale, located at 6201 Johnson Drive in the heart of the city's Lamp Post District.

The EPC Real Estate Group development, initially named Mission Trails, is anchored by a 201-unit multifamily complex and includes 5,500 SF of restaurant and retail space, all connected by an amenity-rich outdoor courtyard.

Since the first move-in in April, the luxury apartment complex is 27 percent occupied and 43 percent leased, according to EPC.

The three-acre property is conveniently located just minutes from Interstate 35 and Highway 69 and within walkable distance of downtown Mission.

The community of studio, one and two-bedroom floor plans includes upscale-living amenities - like a courtyard with gas grills, saltwater swimming pool, 24-hour fitness center and an on-site dog park.

"One of the many reasons why we stand apart from our competitors is the plethora of amenities that compliment anyone’s lifestyle. It's vacation 365 days around here," said Nicole Yates, EPC marketing specialist.

Designed by Klover Architects to match the city’s mission architectural style, the 305,688 SF property includes 201 apartment units - each with their own balcony, a 2,500 SF interior courtyard, 5,500 SF of restaurant and retail space attached to a 4-story, secure-access parking garage - which was financed by a public/private partnership between the City (of Mission) and EPC.

Other amenities include an indoor pool and jogging track, fitness center and communal meeting space.

“From the moment we began designing the building we felt an obligation to build something unique and special. We knew the new 5-story building would take (up) a very prominent location within the entire area. We decided to continue the mission architecture-style with the goal of raising the bar and further expanding the appeal of the Johnson Drive corridor. EPC’s goal from the beginning was to maximize the opportunity of enhancing the exceptional Mission community,” said Steven Coon, principal at EPC.

Project contractor, Crossland Construction Company, worked with EPC to complete The Locale within 20 months and implemented their team of “Real Builders” to self-perform the concrete and rough carpentry. 

Crossland’s team leads, Matt Crossland, project manager, and Tim Carson, superintendent, said the projects’ close proximity to the city’s numerous, popular destinations proved to be a challenge to maneuver around in during construction of the three-acre, urban in-fill site.

“This building takes up every square inch of the site, which made it logistically complex. There was limited space for laydown and staging so all trades had to be well coordinated,”  said Carson.

In addition, severe weather in 2019 led to reduced time onsite for trades. Between site logistics and weather issues, Crossland utilized PlanGrid construction technology to help the project stay on time and on budget.

The Locale marks EPC’s fifteenth completed ground-up development in the KC metro since 2010. Other recently completed projects include Avenue 80 and Avenue 81 on Metcalf Ave. in Overland Park, Kan.; and the recently proposed Ranch Mart South senior living redevelopment in Leawood, Kan.

Other partners on The Locale include Security Bank, BSE Structural Engineers and McClure.

To view the fast-motion earth video of the project’s construction from beginning to end, click the following link, courtesy of Crossland Construction. Click here to watch fast-motion earth video.

Click here to watch Crossland’s YouTube video.

$60 million 'The Residences at Galleria' to open in 2022

The Residences at Galleria, a $60 million multifamily complex located adjacent to the former Sprint World Headquarters in the Galleria 115 development in Overland Park, Kan., is set to begin construction this summer and slated to open in 2022.

The four-story, luxury apartment complex is included in the first phase of the 5-plus acre development by Block Real Estate Services, LLC (BRES). The $350 million Galleria mixed-use development master plan includes two apartment buildings, office space, retail and entertainment.

JLL Capital Markets (JLL) arranged $21 million in joint venture equity partnership with Hartford Investment Management Company (“HIMCO”) on behalf of BRES for the development of the 322-unit, Class-A, podium multi-housing community.

"We are excited to partner with HIMCO on this project, and, from the beginning of discussions with them, it was clear that we had a shared vision for the quality of this project and its high-demographics location within Overland Park” said Ken Block, BRES managing principal.

The Residences include 322 one-, two- and three-bedroom units and will average 927 SF. Features include high ceilings, large walk-in closets with custom shelving, high-end appliances and finishes, European-style cabinetry, outdoor terraces, in-unit laundry rooms with full-size washers and dryers, double-paned windows and more.

A hallmark of the new community, designed by Hoefer Wysocki, is the walkable lifestyle. Adjacent to the site is a thriving commercial corridor, multiple entertainment districts, theaters, and endless restaurant choices. Outdoor patios are linked to The Residences by walking trails that encircle greenspace, sitting areas, a rolling rock waterfall and dog park.

"We are very excited to work with Block Real Estate Services on the Galleria. This community will raise the bar on luxury living in the area,” said Hoefer Wysocki vice president and director of multifamily design, Chris Armer, AIA, NCARB.

The project will feature the best community amenities offered in the submarket and include a large resort-style swimming pool with shallow ledge features; pool deck with cabanas, hot tub, sports courts and water features; fitness center with Peloton bikes, massage therapy and virtual training; outdoor group fitness areas; clubhouse with fireplace, game room and social media room; executive business center; dog park and pet spa; and covered and surface parking.

“Galleria will be BRES’ most exciting project to date, building on our successful experiences with this high-end podium product, which allows for a large, outdoor amenity deck and other amenities that are unique in this market,” Block said. 

The JLL capital markets debt placement team representing the borrower was led by executive managing director Jody Thornton, senior director Mark Erland, director Matt Benson and analyst Kellan Liem.

Other partners on the development team include Titan, Polsinelli and McClure.