CBRE announces sale of Farmers Insurance national property claims facility in Olathe
Minneapolis, Minnesota - (December 30, 2013) CBRE announces the sale of 10551 South Ridgeview Road totaling 102,035 square feet and located in Olathe, Kansas to Griffin Capital Corporation for $19,100,000.
The Farmers Insurance National Property Claims Facility is a Class A, two-story office building located in the Corporate Ridge Office Park in the Kansas City suburb of Olathe, and is 100% leased to Farmers Insurance Exchange (S&P Rating: A+).
The seller, Founders Properties, L.L.C., was represented by the CBRE Institutional Group in Minneapolis led by Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver, and by Gina Anderson with CBRE in Kansas City. Founders Properties is a privately held company formed by two highly regarded industry veterans, Best Buy Founder Richard M. Schulze and Opus Founder Gerald Rauenhorst. Founders Properties’ current portfolio includes approximately 100 institutional grade properties located throughout the United States.
The Minneapolis based team of Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver focuses on the disposition of single-tenant and multi-tenant office and industrial properties. Steven, Tom and Ryan are part of the 85-member CBRE Institutional Group. In 2012, the Capital Markets enterprise of CBRE including the Institutional Group completed over $64.08 billion in combined total U.S. capital activity.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2012 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE 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. For more information, please visit the company’s web site at www.cbre.com.
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