Look for Red to become Area on those red square signs. The real estate company logo on commercial properties in the Kansas City area is changing.
Red Brokerage LLC, a Kansas City office, industrial and retail developer, was purchased in May by Mariner Real Estate Management and investors within Red. Along with the ownership change, Red is rebranded as Area Real Estate Advisors.
The investors include Tim Schaffer, who began working at Red in 2005 and remains a senior leader with Area. Principal investors also include brothers Terry and Ryan Anderson, co-presidents of the Mariner investment firm.
Red Brokerage was founded in 2002 by Mike Helmuth and Dan Lowe. Helmuth and Lowe agreed to the sale after being approached by Schaffer and the Andersons. The Andersons are investors only and aren’t active in Area management.
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The name change from Red to Area was designed partly to clarify the brokerage’s separation from Red Development and Red Legacy (now named Legacy Development), companies that Lowe also founded.
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