3/4/2008

Hines Interests pays $155M for Crown Center in Kansas City

by Michael Wayne

Crown Center

Hines Interests has purchased the Crown Center in Kansas City, Mo., for $155.8 million from Crown Center Redevelopment Corp., a subsidiary of Hallmark Cards, Inc.

The deal was brokered by associates from CB Richard Ellis.

The Crown Center is located at 2555 Grand Ave., and contains 682,000 square feet of rentable space. It is currently occupied by Kansas City law firm Shook Hardy & Bacon. The 24-story tower sold for $230 per square foot.

This purchase marks the second foray into the Crown Center vicinity for Hines. In April 2004, the Texas-based firm purchased 2345 Grand Ave., a 60,000 square foot office tower designed by renowned architect Mies van der Rohe.

Address: 2555 Grand Ave., Kansas City, Mo.

Size: 682,000 square feet

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Filed Under: Office

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