TA Associates Buys Overland Park Executive Center

OVERLAND PARK, KS-A Boston pension real estate investment advisor buys the 217,000-sf Executive Center with plans to upgrade the facility to Class A status.

By Judie Burkhalter | Updated on September 27, 2000

OVERLAND PARK, KS-The Executive Centre, a three-building office complex in Overland Park,KS, has been purchased by TA Associates Realty, a pension fund advisorbased in Boston. Terms were not disclosed.

Built in the early 80s, the trio of buildings are located south ofInterstate 435 at 109th Street and Lowell Avenue. They contain more than217,000 sf.

The buyer will spend several hundred thousand dollars to upgrade thebuildings, according to Ken Block, a senior vice president of Block &Co., the broker for TA Associates. The upgrade will turn thebuildings into lass A space, he says.

Mechanical systems, common areas, lobbies and parking lots are among theareas to be improved. The complex covers more than 14 acres and thebuildings have 30,000-sf floor plates.

The largest tenants in the center, which is more than 95% occupied, are Sprint, Emery Worldwide and Federated Insurance.

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