CHICAGO Jan 29 CME Group Inc has sold
the building that housed the Kansas City Board of Trade to a
Kansas-based real estate company for an undisclosed sum,
representatives of the exchange operator said on Wednesday.
The 166,000-square-foot building was sold to Mariner Real
Estate Management in all-cash transaction, according to a
statement from Holly Duran Real Estate Partners, CME Group's
real estate adviser.
CME Group owned a majority of the building, and Highwood
Properties Inc held a minority stake.
Terms of the deal were not being disclosed, a CME
Chicago-based CME Group has reduced its real-estate
portfolio as the shift to electronic trading made it less
attractive for exchange operators to own real estate for
traditional open-outcry pits.
Last year the company sold the home of its New York
Mercantile Exchange for $200 million and agreed to lease back
the trading floor and some office space. In 2012, it sold most
of the historic Chicago Board of Trade building to a consortium
of real-estate companies for $151.5 million and leased back
CME Group bought the Kansas City Board of Trade in 2012 and
shifted trading of its wheat futures and options to Chicago in