CB Richard Ellis Markets 831,837 Square Feet of Class
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PRESS RELEASE For Immediate Release Contact: Whitney Davidson 972-458-5233 Whitney.Davidson@cbre.com CB Richard Ellis Markets 831,837 Square Feet of Class AA Office Space in Kansas City, Missouri on Behalf of Crown Center Redevelopment Corporation, a wholly-owned subsidiary of Hallmark Cards, Inc. Dallas – October 3, 2007 – CB Richard Ellis has been retained as the exclusive marketing advisor for the disposition of 2555 Grand Boulevard and 2600 Grand Boulevard, two Class AA office buildings with a combined rentable space of 831,837 square feet, located in Kansas City’s prestigious Crown Center. Constructed in 2003, 2555 Grand was designed by Zimmer Gunsul Fransca Architects and consists of 595,607 rentable square feet. The building features a striking two-level lobby and is directly connected to Crown Center shopping, dining and hotel amenities via The Link, an 880- foot glass enclosed elevated pedestrian bridge. 2600 Grand was constructed in 1991 and designed by Henry N. Cobb, a founding partner of internationally-renowned Pei Cobb Freed & Partners. 2600 Grand welcomes visitors and guests with an impressive three-level, 4,500 square foot granite and marble-clad lobby. The building consists of 236,230 rentable square feet and overlooks a unique urban park designed by landscape architect Daniel Urban Kiley which features a stainless steel sculpture by Kenneth Snelson. “This is an unprecedented opportunity to acquire two trophy office buildings in Crown Center,” says Russell Ingrum, executive vice president with CBRE. “There are limited sites for future development in Crown Center which make it a supply-constrained office market. It is also a unique, niche-market which consistently records above-average occupancy rates and commands some of the area’s highest rents.” Crown Center is an 85-acre mixed use neighborhood situated at the southern edge of Downtown Kansas City. Often called a “city within a city”, Crown Center is best known as the home of Hallmark Cards’ world headquarters. It is a preferred corporate address based on its amenities, location, quality corporate residents and significant employee base. CB Richard Ellis Press Release Together, 2555 and 2600 Grand are more than 95% leased. 2555 Grand is home to the world headquarters of Shook, Hardy & Bacon, LLP, which fully-leases the building and is also the original occupant. Notable tenants at 2600 Grand include Variform, Inc., The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and several local law firms and financial services firm. The CB Richard Ellis Dallas-based team of Russell Ingrum, executive vice president, and Gary Carr, executive vice president, will partner with Daniel Carr, senior vice president of CBRE’s Kansas City office to lead the marketing efforts on behalf of Crown Center Redevelopment Corporation, a wholly-owned subsidiary of Hallmark Cards, Inc., based in Kansas City, Missouri. For more information about 2555 Grand and 2600 Grand, please contact Russell Ingrum at (972) 458-4967. About CB Richard Ellis CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the Company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, CB Richard Ellis was named one of the 50 “best in class” companies by BusinessWeek, and one of the 100 fastest growing companies by Fortune. Please visit our Web site at www.cbre.com.