An office building in western Shawnee occupied by Perceptive Software until it moved to Lenexa in 2014 may go into foreclosure.
U.S. Bank, acting as the trustee for LNR Partners, filed a petition to foreclose on the 96,000-square-foot building at 22701 W. 68th Terr.
The building is owned by SC Industrial IV, a business entity affiliated with David Harvey, president and chief executive officer of StoneCreek Properties in Overland Park. Harvey could not be reached for comment over the last two days.
In Kansas, the foreclosure process starts with the noteholder filing a lawsuit. A property owner has an opportunity to contest the foreclosure. So far, Harvey has not yet filed a response to U.S. Bank’s petition.
The bank has a Sept. 21 deadline to serve him with the petition; earlier filings by U.S. Bank indicated that it had been unable to serve Harvey at his business or residence.
Harvey bought the Shawnee office building in 2007, two years after Perceptive Software moved in. SC Industrial IV took out a $14.2 million loan in 2007 secured by the property.
Perceptive signed a lease that ran until October 2015, but the software company announced in 2012 that it would move to Lenexa City Center.
The announcement came as a boost to the Lenexa development, which up to that point had struggled to take off. But it came as a blow for Shawnee to lose one of its largest private employers.
Lenexa offered a substantial incentive package to attract Perceptive, much to the chagrin of Shawnee leaders who offered their own set of benefits to keep the company from leaving for the neighboring city.
Officials with Lexmark, the company that bought Perceptive, declined to comment. Lexmark, based in Lexington, Ky., bought Perceptive in 2010 for $280 million. It employed 506 employees in Shawnee at the time. Lexmark was purchased in April by a consortium of Chinese companies and private equity firms.