Briarcliff & Woodbury Corporation Announce Partnership
MARCH 24, 2021
Briarcliff Development Company (Briarcliff) begins a new chapter in its success story by joining forces with Woodbury Corporation.
A passion for Kansas City is one of the factors that brought Briarcliff and Woodbury together. As a result, this month portions of Briarcliff properties will join with other premier property holdings located across the United States in a prestigious legacy fund managed by Woodbury Corporation.
While Woodbury is headquartered in Salt Lake City, Utah, it has developed properties throughout the Midwest and lntermountain West. Woodbury sought to work with Briarcliff, and the first successful project began in 2013 when they invested in The Landing at Briarcliff, a luxury, 340-unit multifamily project in the Northland.
“We are honored that a family-owned company the caliber of Woodbury Corporation, with over 100 years of experience, has such a strong interest in partnering with Briarcliff Development Company,” said Julie Andrews, chairman of the board.
Through the creation of the long-term fund with Woodbury, Briarcliff’s Class A office portfolio will be included in the partnership with a seamless transition for tenants. The accomplished Briarcliff property management team — with a current tenant satisfaction rating of 98.3% — will remain the same, as will Cushman & Wakefield’s office brokerage. The relationship opens up development equity opportunities for both companies to grow inside and outside of Briarcliff.
“Our integrity-based business history and company principals align. Both Briarcliff and Woodbury are dedicated to providing the highest level of service to our tenants and business relationships and we are proud that portions of Briarcliff properties will be held in the Legacy Fund,” Andrews said.
The Village at Briarcliff, a popular retail and restaurant center, and the undeveloped land will continue to be wholly owned by Briarcliff.
This news, along with the recent announcement by The Opus Group and Balboa Real Estate Partners to build a $54.5 million multifamily complex, Briarcliff Apartments, has 2021 off to a great start for the area.
“Through the development of the Briarcliff community, Charles Garney made Kansas City a better place to live,” said Teresa Loar, current 2nd District Kansas City Councilwoman.
“Charles’ unwavering vision for the blighted area led to a lasting relationship with Kansas City, Missouri, and made Briarcliff one of the most successful TIF districts in the city’s acclaimed development history. I am thrilled to see the excellence of Briarcliff continue with the Garney tradition and their new partner, Woodbury Corporation,” Loar added.
Established in 1919, Woodbury Corporation is a fourth-generation, family-owned company that owns and manages over 14 million square feet of real estate across 16 states.
“Since our initial introduction in 2013, we have been continually impressed with the Kansas City real estate environment and excited to get the chance to work more with Briarcliff Development Company,” said Josh Woodbury, director and vice president of acquisitions at Woodbury Corporation.
The Briarcliff community continues to function and thrive in a well-managed and socially-distanced environment with the health and safety of our occupiers being the top priority.
“Even with the recent challenges the pandemic has presented in the world, it’s good to know that strong, reliable partnerships are still something that can be counted on…this is exactly what Briarcliff and Woodbury have,” said Andrews.