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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.