KANSAS CITY, MO (July 25, 2016) – Stanton Road Capital, LLC (“SRC”), through its affiliate, SRC Plaza Office Owner, LLC, announces the acquisition of 4600 Madison Avenue, a 265,000 square foot Class “A” office building located in the Country Club Plaza submarket of Kansas City. More commonly known as Plaza West, the property was 91% leased at the time of acquisition.
Developed in 1986, the 16-story office tower is a multi-tenant building located on “The Plaza”, an amenity-rich district of Kansas City that includes retail, dining and numerous hotel options. The property is currently occupied by both national and regional tenants including Bernstein-Rein, Stifel, Nicolaus & Co., Beauty Brands and Bank of Kansas City.
“We are excited to expand our portfolio into the Kansas City market with our recent acquisition of Plaza West,” said Tim Ronan, Founder and Managing Partner of SRC. “With the strength of the office leasing fundamentals within the Plaza submarket, and our ability to physically improve and update the asset, we believe the property will continue to attract high-quality tenants.”
Gina Anderson and Gary Carr of CBRE facilitated the sale transaction. SRC has retained Cushman & Wakefield for property management services for the building.