Burns & McDonnell, an engineering firm, will continue to occupy 269,007 sf. The company has 16 years remaining on a 20-year lease and two five-year options to extend. American Century, an investment firm with headquarters on the Country Club Plaza, leases 216,826 sf.
The sale is to the Campbell Estate of Honolulu, HI, which has more than $2 billion in real estate holdings, many of which are on the mainland. The seller, Ward Parkway Associates, is a group comprised of Burns & McDonnell CEO Dave Ruf Jr. and other company principals. In 1994, the group purchased the property for about $40 million from Allen & Co., a New York investment banking company.
The Burns & McDonnell complex, at 9300 and 9400 Ward Parkway, is about 15 years old. It has five-level underground parking garage, with nearly 1,300 spaces and is located near two major north/south thoroughfares--Ward Parkway and Wornall Road. It is less than a five-minute drive from Interstate 435.
Block & Co. served as the advisor for TA Associates Realty of Boston, which is representing the Campbell family. Ward Parkway Associates was advised by Cohen-Esrey Real Estate Services Inc. American Century and Burns & McDonnell are among the area's largest companies. American Century had revenues of $773 million in 1999. Burns & McDonnell had revenues of $260 million for the same year. Burns & McDonnell celebrated its 100th anniversary in 1998.
The 486,000-sf structure and 20-acre property was originally built to house the headquarters of Marion Merrell Dow Inc. The pharmaceuticals company then moved to a new headquarters along Interstate 435 near Bannister Road. Marion Merrell Dow then was purchased by Hoechst AG of Germany and eventually merged with Avenits Pharmaceuticals and moved its offices to New Jersey.
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