The CME Group Tuesday listed the 166,000 square-foot Kansas City Board of Trade building for sale.
CME in October 2012 announced it would acquire the KCBT for a purchase price of $126 million in cash. CME said the acquisition would allow producers and commercial participants increased "capital efficiencies" while improving "product development opportunities." The deal became official in December, 2012.
The last day of open outcry trading on the KCBT floor will be June 28, after which KCBT Hard Red Winter Wheat will be traded on the CME Group trading floor in Chicago.
Traders gather in the interior of the Kansas City Board of Trade Building (USDA photo)
The exchange will operate an electronic trading center
in the former KCBT floor space until the end of September, providing a place for Kansas City-based traders to execute trades on the CME Globex electronic trading platform, CME said.
In April, 2012, the CME also sold a portion of its Chicago Board of Trade building complex. Though the group retained the nearly 300,000 square-foot east building, the 1.3 million square foot north and south towers were sold for approximately $151.1 million. As part of the agreement, CME leased back 150,000 square feet of space in the towers for a 15-year term, including the Agricultural Trading Floor as well as office and trading floor support space.
The sale of the KCBT building, located at 4800 Main Street, will be managed by brokers Holly Duran Partners/Colliers International.