Whiterock REIT Buys U.S. Bank Operations Center in Overland Park

By Gabriel Circiog, Associate Editor The Toronto-based real estate investment trust Whiterock REIT has purchased the U.S. Bank operations center in Overland Park for $38 million, reports the Kansas City Business Journal. Whiterock will handle tenant management of the fully leased [...]

The Toronto-based real estate investment trust Whiterock REIT has purchased the U.S. Bank operations center in Overland Park for $38 million, reports the Kansas City Business Journal. Whiterock will handle tenant management of the fully leased five-story building. U.S. Bank’s lease runs through November 2020, and the bank has agreed to invest over $20 million in building improvements. Located at 12800 Foster St. in the Deer Creek Commons office park, the bank has 1,100 employees.

In nearby Lenexa, the city has approved the initial plans for a 47,000-square-foot medical office building. Located by the intersection of Kansas 10 and 7 highways, the two-story Reserve Plaza Medical Building will be a multi-tenant office building. The project will be developed by Olathe-based DMR Development LLC, while the architect of the project is Greg Finkle of Overland Park-based Finkle Williams Architecture.

In other news, the Elms Resort & Spa in Excelsior Springs will undergo extensive renovations that will start in November. The historic hotel, purchased earlier this year by Widewaters Group Inc, is expected to open its doors just in time for the 100th anniversary in April.

The 60-acre property includes 153 guest rooms and various amenities such as a 10,000-square-foot spa, fitness center, business center, indoor and outdoor pools, a restaurant and two lounges