$25-Mil Office Plans In Doubt After Sale

KANSAS CITY-Tax Increment Financing plans had called for construction of a $25-million office building. DST Realty Inc. has no immediate plans for a site that once was slated for a 180,000-sf office building.

By Judie Burkhalter | Updated on April 16, 2001

KANSAS CITY-DST Realty Inc. has acquired another property in here and possibly two with the decision by the Tax Increment Financing Commission to agree to let it take over plans from Highwoods Properties Inc. to construct a $25-million office building on the south edge of the Country Club Plaza. DST Realty will also be allowed a two-year lease and option to buy on the 12-story existing structure located next to proposed building site in the 4900 block of Main Street.

Earlier plans filed by the J.C. Nichols Company in 1997 before being purchased by Highwoods Properties, called for Nichols to construct a 180,000-sf office building with a 530-car parking garage at the 4900 Main St. site.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Resource Center

Better decisions come from better data, insight and coordination. Download this guide for insights on how to optimize the lease administration process and recommendations for best practices to deliver increased ROI across the lease lifecycle.

Guide

Sponsored by LeaseAccelerator

The Real Estate Leader's Quick Guide: Insights for Better Lease Administration

Better decisions come from better data, insight and coordination. Download this guide for insights on how to optimize the lease administration process and recommendations for best practices to deliver increased ROI across the lease lifecycle.

Browse More Resources ›

Discover how to transform your real estate assets from mere spaces into vibrant experiences that captivate tenants -- and their employees -- to support engagement and retention.

Guide

Sponsored by HqO

How to Develop a Real Estate Experience (REX) Strategy for Your Tenants

Discover how to transform your real estate assets from mere spaces into vibrant experiences that captivate tenants -- and their employees -- to support engagement and retention.

Browse More Resources ›

Cementing your CRE portfolio’s long-term growth means assembling a great tech stack to support your goals. However, selecting the right solutions takes preparation and research. This guide outlines five areas of consideration to help you find the right fit.

Guide

Sponsored by Building Engines

How to Choose the Right Building Operations Tech to Boost Your NOI

Cementing your CRE portfolio’s long-term growth means assembling a great tech stack to support your goals. However, selecting the right solutions takes preparation and research. This guide outlines five areas of consideration to help you find the right fit.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.