Leawood firm is acquiring Board of Trade building

01/02/2014 9:04 PM

01/02/2014 9:04 PM

The Kansas City Board of Trade building, on the market since grain-trading operations ended last summer, is being sold to Mariner Real Estate Management LLC, a Leawood real estate investment firm.

The buyer plans to complete its purchase of the six-story building at 4800 Main St. on Jan. 27, Glenn Stephenson, vice president of Highwoods Properties, said Thursday. Highwoods owns 49 percent of the building. The remaining majority share is owned by CME Group of Chicago.

The financial details of the transaction were not disclosed.

The 165,714-square-foot Board of Trade building has been on the market since April. The property has been owned by CME, or Chicago Mercantile Exchange, since it bought the Kansas City Board of Trade operation in October 2012 for $126 million.

Last June the CME stopped trading at the Board of Trade, ending a history of Kansas City grain trading dating to 1856. The Board of Trade was at 10th and Wyandotte streets for 40 years before moving to the 4800 Main building near the Country Club Plaza in 1966.

Officials at Mariner Real Estate could not be reached for comment Thursday. The company website describes it as a real estate investment firm that manages and invests in real estate, related assets and companies focused on real estate throughout the United States.

Mariner Real Estate is at 4601 College Blvd., and some operations could be moved to the 4800 Main property.

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