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Press Releases

Leawood’s Park Place Village Announces the Opening of Plate Restaurant’s Second Location

  • February 10, 2021
Press Releases

Leawood’s Park Place Village Announces the Opening of Plate Restaurant’s Second Location

  • February 10, 2021

AREA Real Estate Advisors, CBRE and KBS, one of the largest investors in premier commercial real estate in the nation, have announced that Plate Restaurant is expanding its footprint with a second location at Park Place Village. The property is a 483,984 square foot mixed-use retail and office property located in Leawood, Kansas owned by KBS Real Estate Investment Trust III .

AREA agent Rich DuVall handled the leasing transaction on behalf of Plate. According to DuVall, “Park Place is the ideal location for this restaurant’s loyal customer base. There is a need for the taste of central Italy, especially their traditional pizzas, in Leawood, and there’s no better location for that than the top-quality office and retail property that Park Place has always been.”

The opening of the new eatery represents KBS’ deep expertise in identifying dining amenities that are attractive to tenants at its properties and fit into the live/work/play environment that people are looking for, according to Dan Park, asset manager for Park Place Village and senior vice president at KBS.

“Plate is a local culinary favorite that is in high demand in the Leawood market,” says Park. “Adding this dining option to Park Place brings tenants, local residents, and visitors one more reason to appreciate this Class A asset and consider it one of the prime mixed-use properties in the region.”

Park Place Village is a 10-building complex that offers a variety of amenities including boutique shops, upscale restaurants and cafés. The surrounding area features parking garages, the Aloft Hotel, 120 apartments, 30 townhouses, and 27 lofts.

CBRE’s Matt Rau handled the leasing transaction on behalf of KBS.

“Park Place is an iconic mixed-use destination that draws in high-quality tenants seeking the very best amenities in the Leawood market,” says Rau, a senior associate. “As one of the most popular restaurants in this region, Plate is a perfect match with the property and will be a win-win with tenants and visitors alike.”

Plate will occupy the former California Pizza Kitchen space at the property, which is located at 11655 Ash Street, beginning in Fall 2021. The modern Italian eatery, created by local restauranteur Christian Joseph in 2014, features an award-winning dining experience, with menu items that include homemade pizza, pasta, focaccia and other regional favorites prepared daily in the scratch kitchen.

“For us, it is truly all about hospitality and the guest experience,” says Joseph. “When we realized we needed a second location to cater to our burgeoning customer base, we knew that Park Place in Leawood was ideal for our first expansion. We are thrilled to be able to bring our next-level dining experience to this location.”

Plate’s original location is located in Brookside at 701 E 63rd Street, a relocation after the restaurant’s original site was destroyed by a fire in 2017. The eatery currently serves lunch, happy hour, dinner and weekend brunch with indoor and outdoor seating.

Media Contact

Whitney Anderson

AREA Media
816-876-2541
wanderson@openarea.com

Matt Rau

Park Place Village
816-968-5831
Matt.Rau@cbre.com

Lexi Astfalk or Jenn Quader

KBS Media
949-438-6262
kbs@brower-group.com

Ginny Walker

KBS Media
949-417-6535
gwalker@kbs.com

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Industry Trends

Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
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Envisioning the Future of the Built Environment

  • January 29, 2021
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
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Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
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