Joint Venture Acquires 28-Story Kansas City, Missouri, Office Tower
07/23/2018
The office tower, which includes a subterranean parking garage and an adjacent 4-story annex building, was designed by legendary architect Mies van der Rohe and developed by the Shorenstein Company in 1977.
According to company officials ‘it is prominently located near the vibrant and expanding Crossroads Arts District. The tower is approximately 73% occupied and is anchored by the corporate headquarters of Lathrop Gage, a nationwide multi-service law firm."
"We are enthusiastic about entering the Kansas City market at this time and we are particularly excited to own such an iconic building in this prime location," said Brian Witthoefft, Managing Director of Leasing and Marketing for Lingerfelt CommonWealth. "The market fundamentals continue to strengthen, showing steady leasing demand, positive space absorption in quality properties, and upward pressure on rental rates metro-wide. With the improving health of the market and our plans for extensive building renovations, we are optimistic about our investment in 2345 Grand."
Lingerfelt CommonWealth said it plans to make a significant capital investment in the building within the first year of ownership.
Plans currently include a renovation of the lobby and lower-level community common areas, as well as a reconfiguration and renovation of the ground-floor retail portion of the annex building, located at 2380 McGee Street. Tenant-centric upgrades are planned for the fitness and locker room facilities, conference center, and tenant lounge areas to make better use of the indoor and outdoor common space.
These improvements are intended to preserve the classic architectural style of Mies van der Rohe, while at the same time enhance both tenant and community experience through the modernization of the property's spaces, officials said.
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Industry in the Era of the Electron
Q1 2024