Saturday, October 1, 2016

HFF closes $94 million sale of 3-property office portfolio in Overland Park, KS

Jaime Fink
CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $94 million sale of a three-property, seven-building office portfolio located in Overland Park, Kansas, a submarket of the Kansas City metropolitan area.    

HFF marketed the property on behalf of the seller, and procured the buyer, Group RMC.   

Totaling 806,864 square feet, the portfolio comprises three properties: 7101 College, Commerce Plaza I and II, and Financial Plaza I-IV. 

The Class A assets are 92.6 percent leased to 128 tenants, including General Electric, Cardinal Health, Cigna, Arrowhead General Insurance, Brungardt Honomichl & Company, Principal and EMC, among others.

 The portfolio offers tenants access and visibility to Interstate 435, proximity to executive housing and retail amenities, and corporate neighbors such as JP Morgan, AMC, Teva and Coventry Health Care.

The HFF investment sales team representing the seller was led by senior managing directors Mark Katz, Jaime Fink and Jeff Bramson.

“HFF was honored to be involved in the sale of three of the most recognizable assets in Kansas City,” said Katz.  “The intersection of College and Metcalf has historically been Main & Main for the Kansas City office market and we’re excited to watch the continued success of the assets.”

Mark Katz
Block Real Estate Services, which teamed with HFF in the marketing of the properties, assisted the seller in the original purchase of the seven-building portfolio and has managed and leased the properties on behalf of the seller for the past 10 years.

 BRES will continue in that capacity for the buyer and, to enhance its leasing services at these buildings, BRES has secured Brent Roberts, formerly with CBRE and one of the leading commercial office brokers in the Kansas City market, to take on this assignment.  The Block investment team was led by Ken Block and Harry Drake

“We have had the pleasure of representing the seller in a leasing and management capacity for the past 10 years and look forward to working closely with Group RMC as we implement new leasing and management strategies for the portfolio,” added Ken Block, Managing Principal, Block Real Estate Services. 

  For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

No comments: