KANSAS CITY, MO-The General Services Administration has cut down plans for a new $175 million, 650,000-square-foot office building that would have the Federal Aviation Administration as an anchor, and decided to sign another lease for the FAA at its familiar home. The FAA will stay in its 204,607-square-foot building, owned by Tierra FAA LLC, at 901 Locust St. in the downtown.

Brian Bacon with Cassidy Turley, who represented the property owner in the transaction, tells GlobeSt.com that the GSA had planned on moving the aviation group out to anchor a new 650,000-square-foot building in the East Village area here. However, he says the new building still hasn’t made it through GSA approvals, so the decision was made to keep the FAA in its current building.

The agency had leased the building since the facility was designed specifically for it 10 years ago, Bacon says. “It would have much more costly for the FAA to get a new building that has all the amenities we have for it at the current location, to add those would boost the lease cost to about $30 to $40 per square foot,” he says. He refused to comment on the new lease rate, but says the average lease rate in the central business district is about $17.42 per square foot, full service. “There were a few concessions made to keep them in the building,” he says, including renovations and security additions.

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