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Corporate Woods Trades for Nearly $300M

OVERLAND PARK, KS-Located at the junction of Interstate 435 and US 69, the 294-acre campus comprises 2.2 million sf and land for up to 1.1 million sf of future development.

By Danielle Anderson | Updated on December 13, 2006

OVERLAND PARK, KS-A joint venture partnership purchased Corporate Woods, a 294-acre, 2.2-million-sf office park, for nearly $300 million in a sale that closed Dec. 8. The new owners of the campus, which is zoned for up to 1.1 million sf of future development, are Stoltz Real Estate Fund II and an institutional capital partner advised by Urdang Capital Management. Knickerbocker Properties Inc. XXI sold the property.

Andrew Silberstein, executive vice president of Stoltz Real Estate Partners, tells GlobeSt.com that the acquisition marks the Pennsylvania-based company’s entry into Kansas City, a market where it plans to look for future investment opportunities. “We have a great team on the ground,” Silberstein says. “We would like to expand our presence there. We like the demographic.”

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