Block & Company’s Deal of the Week

The Rivergate Business Center is under new ownership after a recent deal with Block & Company Inc. Realtors.

The Rivergate Business Center is under new ownership after a recent deal with Block & Company Inc. Realtors.

The Rivergate Business Center at 6th and Broadway in downtown Kansas City has a new owner. Block & Company Inc. Realtors recently sold the landmark Class A property to 6 Broadway LLC. Max DiCarlo, Mitch DiCarlo, and Jay Friedman of Block & Co. represented the sellers, Rivergate Ventures LLC.

“The investment sale of Rivergate Business Center represents the culmination of a 30-year effort by the original development group, with the outcome exceeding their expectations," Max DiCarlo said.

The original 107,000-square-foot building was constructed in 1904, then renovated and expanded with a 25,000-square-foot concrete addition in 1985. It was renovated again in 2007. Today, the six-story, 132,000-square-foot center serves as a primary gateway to Kansas City’s central business district.

"The property received significant interest from investors Nationwide, underscoring Downtown's tremendous resurgence, and the strength of the Kansas City real estate market as a whole," Mitch DiCarlo said.