January 29, 2014 / 7:10 PM / 4 years ago

CME Group sells Kansas City Board of Trade building

CHICAGO, Jan 29 (Reuters) - 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 spokeswoman said.

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 space.

CME Group bought the Kansas City Board of Trade in 2012 and shifted trading of its wheat futures and options to Chicago in 2013.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below