The owner of most of Corporate Woods has awarded the property management for its massive Kansas City-area portfolio to a new company. Group RMC Corp. has tasked CBRE with overseeing the 3.38 million-square-foot portfolio, which spreads throughout the metro area and includes the majority of Corporate Woods in Overland Park. Cori McLain and Melissa Gray of the CBRE Property Management team will oversee the account.
The deal took effect in early October. Group RMC is a New York based co-investment and management firm co-founded by Canadian real estate investor Raymond Massa and his son, Alex. Group RMC owns 22 buildings and 2.16 million square feet at Corporate Woods. It bought the majority of Corporate Woods in 2017 for an estimated $300 million. Block Real Estate Services LLC previously managed the holdings.
Corporate Woods is not the only property CBRE will manage for Group RMC. In 2016, Group RMC acquired an 806,864-square-foot portfolio that included five office towers and two mixed-use towers, built near College Boulevard and Metcalf Avenue between 1984 and 1989.
In 2018, the company also acquired five buildings in south Kansas City, three of which are near 92nd Street and Ward Parkway. The other two are near the southeast corner of Interstate 435 and Holmes Road. That portion of the portfolio is just under 400,000 square feet.
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