The Core of Retail Real Estate

A Kansas City-based commercial real estate firm.

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About


Who we are

ReCor specializes in the development, redevelopment and investment of retail, restaurant and shopping center properties.  Brandon Haverty and Matt Gibbs, ReCor’s principals, have over 20 years of combined experience in the shopping center industry working for the most notable and respected development and brokerage companies. We have completed transactions with an extensive group of sellers and retailers throughout the country. As principals, we’re very involved in the business and welcome the opportunity to work with third parties to generate new development and acquisition opportunities.

Our philosophy

ReCor is focused on acquisitions, development and redevelopment within a regional footprint including Kansas, Missouri, Oklahoma, Nebraska, Colorado and Arkansas. Our approach is centered on maintaining a flexible and decisive process to meet our seller and retail partners’ needs.

Principals


Matt Gibbs

Principal

Matt-Vertical-Grayscale

Matt has been involved in the retail, restaurant, and shopping center real estate industry since 2004 and brings his extensive experience to ReCor Properties. He is deeply involved in many stages of the commercial real estate transaction cycle, focusing on the development, redevelopment and acquisition of retail assets throughout the country.

Prior to co-founding ReCor Properties, Matt worked with RED Legacy, LLC in acquisitions and development and started his career in retail brokerage with CBRE, Inc. During his tenure with CBRE, Inc., he generated over $250 million in retail transactions. This Kansas City native has led partnerships and consulted institutional and private owners on the acquisition, development, redevelopment, leasing and disposition of shopping center assets throughout the Midwest, as well as retailers with the site selection process for national single and multiple unit store expansions.

Matt earned his Bachelor of Science degree in business administration with an emphasis in finance and real estate from the University of Missouri—Columbia. He is a member of the International Council of Shopping Centers and is currently a Certified Commercial Investment Member (CCIM) candidate.

Brandon Haverty

Principal

Brandon-Vertical-Grayscale

Brandon has spent his entire career in the commercial real estate sector, resulting in extensive experience in development, redevelopment and acquisition of retail, restaurant and shopping center assets throughout the Midwest. This experience has given him the ability to deliver results to the partnerships and relationships he forged.
Brandon’s first position was with Woodcrest Capital, a prominent regional real estate investment and development company in Fort Worth, Texas. Grubb & Ellis The Winbury Group brought him back home to Kansas City in 2006 where he specialized in retail brokerage for two years before joining CBRE, Inc. In 2012, Brandon joined RED Legacy, LLC to focus on acquiring properties as a principal.
Though he is a longtime Kansas City Metro area resident, Brandon earned his Bachelor of Science degree in business administration with a double major in finance and accounting from Texas Christian University in May 2004.

Verizon Wireless
(Single Tenant Building Conversion)

Acquired an operating Boston Market restaurant in Kansas City, Missouri, and negotiated a lease termination favorable to both parties. Leased the entire building to Verizon Wireless on a long term NNN lease.

Noodles & Company
(Single Tenant Building Conversion)

Acquired an operating Boston Market restaurant in Topeka, Kansas, and negotiated a lease termination favorable to both parties. Leased the entire building to Noodles & Company on a long-term NNN lease.

FedEx/AT&T
(Two Tenant Retail Building)

Acquired an 8,000 square foot retail building in Topeka, Kansas. The property is well located along the main retail corridor and directly North of the only enclosed regional mall in Topeka. FedEx and AT&T occupy the center on long-term leases.

TGI Fridays Restaurant
(Two Tenant Retail Building Conversion)

Acquired a former TGI Friday’s restaurant in Shawnee, Kansas, and converted the 6,400 square foot building into a two tenant retail building. Leased the building to Mattress Firm and Pacific Dental. The property is located on an out parcel to a Super Target anchored power center and adjacent to a Walmart Supercenter.

Trail West Shopping Center

Trail West Shopping Center is located at 75th Street and Metcalf Avenue in Overland Park, Kansas. The 18,100 square foot center was acquired with three existing tenants, including O’Reilly Automotive. Negotiated lease extension with O’Reilly Automotive and have 6,000 square foot vacancy to lease upon completion of a shopping center remodel.

36th & Main
(Ground Lease Acquisition)

Purchased the fee simple interest in a 1.5 acre ground lease at 36th Street and Main Street in Kansas City, Missouri. Plan to redevelop the property to its highest and best use upon ground lease expiration in 2021. The property includes the Pancho’s Mexican Restaurant, neighboring strip center and over 400 feet of frontage along Main Street.

Bonner Springs Pointe
(Acquisition of Development Ground)

Acquired two operating churches and the associated ground totaling 14 acres on the northeast corner of Kansas 7 Highway and Kansas Avenue in Bonner Springs, Kansas. Obtained Tax Increment Financing (TIF) to construct all horizontal improvements and sold individual parcels to Walgreens, Burger King and AutoZone. Completed a build-to-suit for Goodwill and subsequently sold the Goodwill property to a 1031 exchange buyer. Two lots remain for future sale and/or development.

Shell Portfolio

Acquired five former gas stations from Shell Oil that were located in four different states. All cash acquisition with a 20-day closing period. Overcame environmental concerns prior to acquisition and worked with each of the state’s health and environmental departments to reduce long-term liability. Three properties were sold to national retailer’s preferred developers and/or owner/users.

Qdoba Mexican Grill

Acquired two operating Schlotzsky’s restaurants from a regional franchisee in Kansas City. The sites are located in Kansas City, MO, and Mission, KS. Both properties are being redeveloped into Qdoba Mexican Grill single tenant freestanding restaurants. Qdoba Mexican Grill signed long-term NNN leases for each location.

Winsteads

Through a long-term sale-leaseback structure, ReCor Properties completed the acquisition of two operating Winstead’s Steakburger restaurants (Leawood, KS and Kansas City, MO). Winstead’s is a hamburger chain based in Kansas City, MO and has been operating for over 75 years. The Kansas City, MO restaurant is located immediately adjacent to the Country Club Plaza, Kansas City’s most iconic shopping, office and multi-family residential district. The Leawood, KS restaurant is located along the 135th Street corridor in Johnson County, one of the Kansas City Metro Area’s most coveted trade areas.

Buffalo Wild Wings
(Leavenworth, KS)

In 2016 did a build to suit for Buffalo Wild Wings in Leavenworth, KS. ReCor worked with tenant to identify and negotiate the rights for parking in excess of 100 spaces to achieve Buffalo Wild Wing’s necessary parking requirements. Buffalo Wild Wings signed a long term NNN lease and is set to open in the Fall of 2016.

Properties


The principals of ReCor Properties have been involved in a variety of retail, restaurant and shopping center acquisitions. A sampling of these types of transactions are detailed below.

Contact


ReCor Properties

  • 5925 Beverly Avenue
  • Mission, KS 66202
  • Office: 913-948-9900

Matt Gibbs

Brandon Haverty

Carrie Wimberley