News Article | 3/19/2010

Cordish Cos. focuses on mixed-use projects


With origins tracing back to 1910, The Cordish Cos. is a family-owned, multi-billion-dollar, global conglomerate of businesses focusing on real estate development and entertainment venue operations.


According to the company’s Web site, its development experience includes numerous sports-related mixed-use projects with retail, office and residential space, similar to Victory Park.


One example is the $850 million Power & Light District in Kansas City, Mo., which transformed nine city blocks next to the Sprint Center into shops, bars, restaurants and entertainment venues. The development is anchored by H&R Block’s corporate headquarters.


Phil James, senior vice president of Kansas City commercial real estate firm Grubb & Ellis/The Winbury Group, said the Power & Light District was an important element of the central business district rehabilitation. James, who handles leasing in a 660,000-square-foot office and retail building across the street from the Cordish project, said the Power & Light District has had mixed success.


“It has brought our CBD back to life; it’s a positive for downtown and it has given people alternatives for their entertainment,” James said. “But statistically, we haven’t done any more leasing because of it, and it has definitely cannibalized some other businesses and entertainment districts around Kansas City.”


The Cordish Cos. is currently completing more than $1 billion of new construction of mixed-use districts that complement sports venues throughout North America, including projects in San Francisco, Philadelphia, Toronto, St. Louis, Mo., and Daytona, Fla., its Web site states.


Tenants in various Cordish projects include Hard Rock Cafe, Barnes & Noble, ESPN Zone, Sambuca, Ted’s Montana Grill, Tequila Ranch, Brooks Brothers and Nautica.