Onward Investors, a national commercial real estate investment and development firm, has acquired Executive Centre, a three-building, 220,000-square-foot office complex located on Interstate-435, 12 miles west of downtown Kansas City, in Overland Park, Kansas.
Minneapolis-based Onward Investors purchased Executive Centre for $13.2 million. The company plans to continue to own and stabilize the property, and improve the building’s exterior and interior aesthetics.
The property currently features an occupancy of more than 85 percent, including major tenants such as UPS and Federated Insurance.
“Executive Centre presented Onward with a timely opportunity to purchase three quality office buildings located in Kansas City’s top-performing office submarket,” said Scott Schmitt, director of acquisitions and development for Onward Investors, in a statement. “It’s an extraordinary property in a superior area.”
The office complex’s prime location along I-435 provides convenient access to several major interstates and highways and is surrounded by best-in-class restaurants, shopping and hotels.
Executive Centre is made up of two three-story office buildings with underground and surface parking and one two-story office building with surface parking.
Capital improvements have included numerous HVAC upgrades and recently replaced roofs. Building III recently received the U.S. Environmental Protection Agency’s ENERGY STAR® label.
Located at 10881-10901 Lowell Avenue in Overland Park, Executive Centre’s complex includes Buildings I and II (each approximately 93,000 square feet); and Building III (approximately 34,000 square feet).
