New York-based Advalurem Group is has closed on an equity investment in Nall Corporate Center II, a soon-to-be completed, 150,000 s/f, Class A+ office building in Overland Park, Kansas.
The $34 million project recently broke ground with an approximate 12-month period until initial occupancy.
The development partner, Block Development Company, originally acquired the property in 2012 and in recent months finished pre-development, including lining up a lead tenant and securing construction financing. “We give full credit to Block for successfully executing the business plan to this point and are excited to see the project’s realization,” said Fred Scott, principal at Advalurem.
This investment comes on the heels of a recent apartment recapitalization in the Dallas metro area.
