{"id":1004202241,"date":"2018-01-04T08:36:52","date_gmt":"2018-01-04T16:36:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202241"},"modified":"2022-12-08T15:45:42","modified_gmt":"2022-12-08T23:45:42","slug":"stanton-road-capital-buys-kc-trophy-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stanton-road-capital-buys-kc-trophy-asset\/","title":{"rendered":"Stanton Road Capital Buys KC Trophy Asset"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004202242\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202242\" data-attachment-id=\"1004202242\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stanton-road-capital-buys-kc-trophy-asset\/2323-grand-blvd-kansas-city-mo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"2323 Grand Blvd., Kansas City, Mo.\" data-image-description=\"&lt;p&gt;2323 Grand Blvd., Kansas City, Mo.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;2323 Grand Blvd., Kansas City, Mo.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg?w=800\" class=\"wp-image-1004202242 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg\" alt=\"2323 Grand Blvd., Kansas City, Mo.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2323-Grand-Blvd.-Kansas-City-Mo..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202242\" class=\"wp-caption-text\">2323 Grand Blvd., Kansas City, Mo.<\/p><\/div>\n<p>Stanton Road Capital has acquired 2323 Grand, a 320,976-square-foot office building located within Kansas City\u2019s Crown Center. Insurance company Assurant was represented by CBRE in the transaction, which also included a 2.3-acre surface parking lot located two blocks north, in the Crossroads Arts District.<\/p>\n<p>\u201c<em>2323 Grand presented investors a stable, in-place cash flow and upside through the lease-up of existing vacancy and mark to market of in-place rents,<\/em>\u201d said Gina Anderson, first vice president at CBRE, in a prepared statement. \u201c<em>The development potential of the surface parking lot is very compelling, given its location within the dynamic Crossroads District, which is experiencing an unprecedented wave of new development and <a href=\"https:\/\/www.commercialsearch.com\/news\/kansas-citys-corrigan-station-is-fully-occupied\/\">redevelopment<\/a> that has attracted creative businesses and new residents alike.<\/em>\u201d \u00a0<\/p>\n<p>In addition to Anderson, the CBRE team of brokers also included Vice Chairman Gary Carr and First Vice President Robert Hill. \u00a0\u00a0<\/p>\n<h2>Recent improvements<\/h2>\n<p>The Class A office property is 83 percent leased to a number of prominent tenants including Sun Life Financial (U.S.) Services Cos. Inc., Seigfried Bingham and Thornton Tomasetti Inc. The previous owner has recently invested $6.5 million in upgrades to the building, which now offers amenities such as a cafeteria with a dining room and outdoor patio, a fully-equipped fitness center and several conference rooms.<\/p>\n<p>Located at 2323 Grand Blvd., the 11-story building benefits from one of the most coveted Kansas City business addresses, overlooking Washington Square Park. The building is close to the Union Station Kansas City, several hotels and dining venues, Crown Center Square and the National World War I Museum and Memorial.<\/p>\n<p><em>Image courtesy of CBRE <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE arranged the sale of 2323 Grand, an 11-story office building within Kansas City\u2019s Crown Center. The transaction also included a 2.3-acre surface parking lot. <\/p>\n","protected":false},"author":1064,"featured_media":1004202242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1592,13,21742,21747],"tags":[32789,36172],"class_list":["post-1004202241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-kansas-city","category-midwest","category-latest","category-office","tag-cbre","tag-stanton-road-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stanton Road Capital Buys KC Trophy Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stanton-road-capital-buys-kc-trophy-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stanton Road Capital Buys KC Trophy Asset\" \/>\n<meta property=\"og:description\" content=\"CBRE arranged the sale of 2323 Grand, an 11-story office building within Kansas City\u2019s Crown Center. 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