2.2M-SF KC office park sale expected to garner $350M

A crowning jewel of the Kansas City-area office market, the 22-building, 2.2 million-square-foot office complex dubbed Corporate Woods is for sale. The property is to be marketed by Holliday Fenoglio Fowler LP, a commercial real estate affiliate of Pittsburgh-based HFF Inc. (NYSE: HF).

A commercial real estate professional whose firm was trying to land the listing estimated the sprawling Overland Park, Kan., office park would sell for at least $350 million, according to the Kansas City Business Journal.

The property was last sold by a subsidiary of the New York State Teachers Retirement System in 2006 for $290 million to its current owners: a partnership involving two suburban Philadelphia firms, CenterSquare Investment Management – then called Urdang Captial Management – and Stoltz Real Estate Partners.

The office complex is said to boast a 94 percent occupancy rate.

Read more from the Kansas City Business Journal.