Kansas City, Missouri, Board Of Trade Building Sold With 53 Percent Occupancy
Established in 1856, the Kansas City Board of Trade was originally located at 8th and Wyandotte Street in downtown Kansas City and later at 10th and Wyandotte. CME Group acquired the KCBT in December 2012.
Senior Vice President Rod Jones and Co-CEO Bryan Johnson of Colliers International | Kansas City, in partnership with Holly Duran and Jeff Mulder of Holly Duran Real Estate Partners, represented the seller Board of Trade Investment Company, as co-brokers for the sale of the building. Board of Trade Investment Company is owned jointly by CME Group and Highwoods Properties. HDREP has been CME's global real estate advisor since 1980.
The buyer, an entity managed by Mariner Real Estate Management, was represented by Pat Coppinger, Senior Vice President with Colliers International | Kansas City.
"The property, currently 53 percent leased, presents the buyer with an excellent value-add opportunity with upside potential. It's strategically located on the south side of the Country Club Plaza, which has historically been the most stable market in the metro area due to the fact that this area is where tenants want to be," said Rod Jones, Vice President of Colliers International-Kansas City.
"We're very pleased that the timing of this transaction fit perfectly with the overall real estate market conditions in Kansas City," said Jeff Mulder of Holly Duran Real Estate Partners.
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