KANSAS CITY—Mariner Real Estate Management, LLC has just purchased the Kansas City Board of Trade building in an all-cash transaction. The 165,714-square-foot, class B property sits at 4800 Main St. on the city's Country Club Plaza. It was acquired by the Chicago-based CME Group in December 2012. Terms of the transaction were not disclosed.
The Kansas City Board of Trade, established in 1856, was originally located at 8th and Wyandotte St. in downtown Kansas City and later at 10th and Wyandotte.
Senior vice president Rod Jones and co-CEO Bryan Johnson of Colliers International Kansas City, in partnership with Holly Duran and Jeff Mulder of Chicago-based Holly Duran Real Estate Partners LLC, represented the seller, the Board of Trade Investment Company, as co-brokers for the sale. CME Group and Highwoods Properties own the Board of Trade Investment Company. HDREP has been CME's global real estate advisor since 1980. The buyer, an entity managed by Mariner, was represented by Pat Coppinger, a senior vice president with Colliers International Kansas City.
“The property, currently 53% leased, presents the buyer with an excellent value-add opportunity with upside potential,” says Jones. “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.”
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