Hallmark Cards is selling more undeveloped property at its Crown Center complex, this time putting four acres adjacent to its corporate headquarters on the market for $9.6 million.
This latest offering is prime real estate on the south side Hallmark's extensive land holdings, mostly on the southeast corner of Grand Boulevard and 27th Street.
Hallmark has also listed a 5-acre site at 19th and Oak streets in the East Crossroads for sale. That property is under contract with Milhaus, an Indianapolis developer with plans for mixed-use development there.
Another 2-acre site owned by Hallmark immediately to the east of the 27th and Grand is also up for sale.
Much of the property for sale at Grand and 27th is a parking lot; marketing materials for the sale offering describe the property as flat, and it has centralized utilities, which would make for easy development opportunities.
Block Real Estate Services, a real estate firm in Kansas City hired by Hallmark to list the property, said the property could be developed into a multifamily high rise project.
"This site is presumed to be mid- to high-rise multifamily, like San Francisco Tower and Santa Fe Place," said Michael Block, principal with Block Real Estate Services.
The site is near the under-construction $68 million Gallerie mixed-use project near 27th Street and Gillham Road. Milhaus is the developer of Gallerie.