Matt Ledom, CCIM with MMG

In this week’s MWM Broker Spotlight, Matt Ledom, CCIM, senior associate director with MMG Real Estate Advisors, shares his experience, passion and drive since his start in the Kansas City CRE environment.

Ledom began his career in the investment sales industry in the summer of 2013 working as a seller representative for Block Real Estate Services. In 2021, Ledom joined MMG Real Estate Advisors with a focus on multifamily investment sales and advising clients in a way that maximizes their investment returns through strategic planning and execution.

MWM: What initially sparked your interest in becoming a commercial real estate broker?

Ledom: My father is in the commercial real estate business (developer and owner) and helped push me in the brokerage direction – the best way to learn the business early on is through brokerage. I also enjoy the competitive environment and the mentality of being in charge of your future. I appreciate that it’s a high-risk, high-reward industry.

MWM: What do you enjoy most about being a broker?

Ledom: We take a lot of pride in representing our clients in the marketplace. They trust and believe we will execute at an extremely high level. We consistently close at, or above, the top end of our valuations!

I love the fast-paced nature of the business. At times, we uncover opportunities and only have a day or two to assemble our thoughts and valuations together. There’s an adrenaline rush to start, followed by satisfaction when our team turns around detailed information so quickly and effectively.

My favorite part is having a pulse on what’s going on around the city in real-time, as well as being part of bringing in new capital that plays a role in upgrading the landscape of our marketplace.

MWM: Can you share a highlight of your goals? Where do you see yourself in the next 5­-10 years?

Ledom: We are building something special at MMG. We have an extremely team-centric approach and a combination of local, regional and national reach that allows us to efficiently and effectively assist our clients in moving their capital all around the country. We want to grow our team and increase our production levels individually and as a whole company.

My personal goals are aligned with our team goals at MMG. Excellence in our executions for clients, combined with consistent company growth and continued improvement through hard work and perseverance.

MWM: Can you offer any tips on how you stay on track with your goals and how to be a successful broker?

Ledom: I am fortunate to have been around some very successful commercial real estate executives throughout my career. Some of my mentors include my Father, Mark Ledom; Michael Sullivan with MMG; Alex Blagojevich with MMG; Bucky Brooks with Copaken-Brooks; Lindsay Olsen with MITC; Ken Block with BRES; and Aaron Mesmer-BRES.

Setting goals is extremely important. Having a plan to execute on those goals is equally important. When I look back over my career to date, focusing on what you CAN do, not what you CAN’T do, and utilizing your best skillsets to accomplish pre-set goals can take you a long way.

Ledom graduated from the University of Cincinnati in 2013 with a double-major in Real Estate and Operations Management. He also played on the golf team on a scholarship while attending college.

To reach Matt Ledom, you may email him at matt.ledom@mmgrea.com.

To nominate a MWM Broker Spotlight candidate, please email lisa@metrowiremedia.com.

46 Penn Centre adds Ocean Prime Restaurant to menu

Country Club Plaza’s recently completed 14-story corporate office building, 46 Penn Centre, is adding acclaimed restaurant Ocean Prime Restaurant + Prime Social Rooftop to its amenities menu.

Pinnacle Construction Group will begin construction on the steak and seafood restaurant in the next 60 days, with an anticipated fall 2021 opening date, according to a release.

Kansas City is the newest location - and the first in Missouri - for Ocean Prime’s award-winning Cameron Mitchell Restaurants (CMR). The management investment partnership became a reality between the restaurant group and investors associated with Block Real Estate Services principals.

“At the outset of our plans for the building, we set our sights on landing a world class restaurant for 46 Penn Centre,” said Ken Block, managing principal of Block Real Estate Services.

With 8,500 SF of space, including three private dining rooms and a peninsula bar, Prime Social will be the only rooftop venue with expansive views of the Plaza and surrounding area.

“Ocean Prime is one of the finest restaurants in the U.S. and is the perfect partner to provide that elevated guest experience. It gives our tenants even more amenities at their fingertips, as they will soon have an in-house restaurant and rooftop lounge to entertain their clients and employees,” said Cameron Mitchell, founder and CEO of CMR.

This will be the 17th Ocean Prime restaurant since the 2008 launch of the concept in Columbus, Ohio.

“We are excited to expand the Ocean Prime concept, bringing both classic and modern fare,” said Mitch Miller, vice president of Ocean Prime.

“Our restaurant is known for its vibrant energy, made-from-scratch menu offerings, seasonal ingredients and an extensive menu to suit every palate- including prime steaks, chops, chicken and seafood. Our signature cocktails, from classics to original creations, and extensive wine list are a highlight of our guests’ experience. Prime Social will be a cool rooftop oasis and an ideal spot for guests to sip, savor and surround themselves within the cityscape,” Miller said.

46 Penn Centre opened in the fall of 2020. The Class A office building features 220,000 +/- RSF of office space, approximately 11,000 +/- RSF of retail space and secure, covered parking. Located north of 47th Street and east of Pennsylvania Avenue, it features private balconies on each floor and has been constructed with only four columns per floor for maximum space-plan efficiency.

$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.

Block drives reno for Oakwood Country Club

OCC Investors, LLC., an ownership group led by developer Ken Block, has purchased Oakwood Country Club at 9800 Grandview Rd. in Kansas City, Mo. with plans to begin renovations as early as this month.

“Our vision is to transform what is already a beloved property and golf course with a rich 139-year history into one that will be widely known as the state’s best - and what we hope will become the region’s best," said Block, who played his first round of golf at Oakwood Country Club at age nine.

OCC Investors brought in golf course and country club design and development experts from around the country to provide direction for the improvements of the course and grounds including Titan, Pinnacle Construction Group, Gensler and NSPJ Architects.

Work on the clubhouse and parking and grounds will be begin this summer, followed by the golf course. The first phase of the golf course is estimated to be complete by fall; the second phase includes opening new greens on several holes by next spring. A final round of upgrades will take place during the 2021 season.

Plans to transform the property from top to bottom for the 2020-21 and 2021-22 seasons, include:

• A new, world-class golf range

• New cart paths

• Better Billy Bunker system sand traps

• New championship tees and multiple tees for golfers of all levels

• Enlarged and enhanced fairways

• Top-tier, short-game practice facility

• Golf simulators

• Heated golf bays

• Planned Center of Golf Excellence for teaching pros to instruct members and non-members

• Modernizing the property from the front entrance throughout the property

• Improvements to bar, grill and event spaces

• Newly designed and upgraded restrooms and sitting rooms

• Enhancements to outside decks, balconies and seating areas, including adding fire pits and enhanced lighting

• New parking facilities

“NSPJ is excited to be a part of the renovations at Oakwood Country Club. We are working on a modernization and rebranding of this historic golf course that focuses on the golf experience,” said Katie Martinovic, VP/principal landscape architect for NSPJ.

Founded in 1881, Oakwood Country Club is the oldest operating country club in Kansas City and was frequented by former President Harry S. Truman in the 1950s.