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EverWest Acquires 900 West 48th Place Kansas City, Missouri
November 20, 2014
EverWest in accompaniment with their joint venture partner, Independencia Asset Management, is pleased to announce the acquisition of Plaza Vista - 900 West 48th Place (the "Property"), a Class A office tower in Kansas City's sought-after Country Club Plaza. The Property is a 10-story office building that offers 253,720 rentable square feet, including retail space on the first two floors and a 940-space six level parking garage located directly beneath the office building.
The asset is located five miles south of Kansas City's Central Business District, within the market's top rated Country Club Plaza submarket. The area is home to Kansas City's most exclusive collection of office, retail, restaurant, hotel and high-rise residential properties.
The Property is currently 98.6% leased to some of Kansas City's highest profile businesses and restaurants. This investment presented a unique opportunity to establish a presence in the prestigious Country Club Plaza submarket where investment opportunities are few.
Tom Karbowski, Managing Director, comments "This acquisition represents a unique opportunity for EverWest and our investors to enter the Kansas City market and own a core asset in the highly desirable Country Club Plaza submarket. Completed in November 2013, Plaza Vista is the first newly constructed office building in the submarket in the past ten years. This project is the very successful culmination of years of hard work and collaboration between the Polsinelli Law Firm, Dave Harrison and his team at VanTrust Real Estate, and the City of Kansas City to resurrect a storied development in a prominent Kansas City location."