{"id":1004818536,"date":"2026-11-13T01:54:30","date_gmt":"2026-11-13T09:54:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004818536"},"modified":"2026-11-13T01:55:27","modified_gmt":"2026-11-13T09:55:27","slug":"exclusive-kansas-city-office-mid-rise-scores-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exclusive-kansas-city-office-mid-rise-scores-refi\/","title":{"rendered":"Exclusive: Kansas City Office Mid-Rise Scores Refi\u00a0"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004818537\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exclusive-kansas-city-office-mid-rise-scores-refi\/corrigan-station-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg\" data-orig-size=\"409,512\" 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;\\u00a9 Yardi Systems, Inc.&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;0&quot;}\" data-image-title=\"Corrigan Station\" data-image-description=\"&lt;p&gt;Image from YM&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 10-story building came online in 2016. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg?w=409\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg\" alt=\"Exterior shot of Corrigan Station, an office building in Kansas City, Miss.\" class=\"wp-image-1004818537\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/11\/Corrigan-Station.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><\/a><figcaption class=\"wp-element-caption\">The 10-story building came online in 2016. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Copaken Brooks has obtained a $25.6 million refinancing loan for Corrigan Station, a 122,000-square-foot office building in Kansas City, Mo., Yardi Matrix information shows. CommunityAmerica Credit Union provided the note.<\/p>\n\n\n\n<p>The company completed the LEED Silver-certified mid-rise back in 2016, reflecting the broader <a href=\"https:\/\/www.commercialsearch.com\/news\/green-building-trends\/\">green building trends<\/a> in play at the time. Since then, the firm has taken out four permanent loans originated by Dickinson Financial, totaling $88.6 million.<\/p>\n\n\n\n<p>Located at 1828 Walnut St. within the Crossroads district, the 10-story building has easy access to the Power &amp; Light District and Crown Center, as well as the city\u2019s downtown area. Kansas City International Airport is 22 miles away.<\/p>\n\n\n\n<p>The Class A mid-rise has about 12,000 square feet of ground-floor retail space. The property also comprises a four-story parking garage with EV charging stations and a two-story rooftop clubhouse, as well as meeting spaces, a rooftop garden and multiple lounge areas.<\/p>\n\n\n\n<p>Corrigan Station is part of a two-building campus that also includes Corrigan Station II, a three-story structure that measures 22,910 rentable square feet. The two facilities share the parking garage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-kansas-city-office-market-cools\">Kansas City office market cools<\/h2>\n\n\n\n<p>Kansas City\u2019s office market softened in the third quarter, with net absorption falling to negative 185,000 square feet, the first quarterly loss in two years, according to <a href=\"https:\/\/www.cbre.com\/insights\/figures\/kansas-city-office-figures-q3-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">a CBRE report<\/a>. Vacancy stood at 17.5 percent, up 40 basis points from June but still 10 basis points below its year-ago level. Leasing activity also slowed to roughly 500,000 square feet, bringing the year-to-date total to 1.9 million square feet, down from more than 3 million square feet during the same period in 2025.<\/p>\n\n\n\n<p>Despite the weaker local fundamentals, the Corrigan Station refinancing comes as office debt markets continue to improve nationally. Loan originations rose 47 percent year-over-year in the second quarter, a <a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2026\/08\/06\/commercial-multifamily-borrowing-increased-16-percent-in-the-second-quarter-of-2026\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Mortgage Bankers Association survey<\/a> shows, the second-largest increase among property types, behind retail. Quarter-over-quarter, volume increased 23 percent, pointing to continued lender appetite even as individual office markets remain uneven.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s the fifth refinancing deal in 10 years for this building.<\/p>\n","protected":false},"author":3355,"featured_media":1004818538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1592,13,21742,21747],"tags":[35290,32779],"class_list":["post-1004818536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-kansas-city","category-midwest","category-latest","category-office","tag-copaken-brooks","tag-leed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Exclusive: Kansas City Office Mid-Rise Scores Refi\u00a0 - 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