Cerner plans to save millions after selling 3 office properties across Kansas City area

Business
Cerner

Cerner (Photo by Adam Vogler/Kansas City Business Journal)

Cerner Corp. anticipates saving millions of dollars each year after it finishes finding new owners for the three office properties it has looked to sell in the Kansas City metro.

All told, Cerner anticipates reducing its metro-area office footprint by 15%, or just over 1 million of the 6.5 million square feet it owned before listing two properties through Colliers International earlier this year.

One of the health care IT company’s properties, the Oaks Campus at 3315 N. Oak Trafficway, sold this month to NorthPoint Development. Although a purchase price was not disclosed, a NorthPoint affiliate took out a $20.1 million loan from Simmons Bank in connection with the transaction, Clay County property records show.

Another property, Cerner’s Riverport site at 3315 N. Oak Trafficway, remains available for sale. The company on Wednesday confirmed that it plans to list its Continuous Campus at 10200 Abilities Way in Kansas City, Kansas, next month.

Between depreciation and operating costs, Cerner expects to save $10 million annually after selling all three properties, CFO Mark Erceg said during a second-quarter earnings call Friday morning.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Latest

More News

Digital First

More digital first