Cerner Corp Seals The Deal At The Banister Site For $4.3 Billion

It is now official that Cerner Corp has sealed the deal of the Bannister site at $4.3 billion. Cerner Corp has finalized the purchase deal regarding property that it required for its planned office development worth $4.3 billion located at the 435 Interstate and Bannister Road in The city of South Kansas. The city officials said that the Three Trails property that measures 237 acres, which also houses the Bannister Mall’s former site was acquired last week. The project on office development would be the biggest one in the region when its construction would be over in a period of about 10 years. This also indicates that it would be bigger than the Sprint headquarters that is situated in the Overland park.

John Sharp, the Councilman, Kansas City, while talking about the deal of Cerner said on Monday that the company has sealed the deal. And he also added that the people who he has spoken to are highly interested and optimistic about the whole project. He also said that the people of the region are asking him whether the project will happen in reality and as Cerner has made the purchase of the property, they can be sure that it was going to happen.

The health care mammoth that is based in the city of North Kansas has plans to construct a phased campus that would have a campus with an area of 45 million square feet. The construction project of Cerner will have 15,000 people working on it and it hopes that the project would be completed by 2024. Cerner will employ over 9000 people to work in this brand new metropolitan site it has purchased. The 4.3 billion worth redevelopment plans of the health care giant would include a tax incentive package worth $1.63 billion which was approved earlier last year in October.

The property of the three trials was owned previously by Cerner Property Development, which is an entity under the control of Cerner’s top executives, Neal Patterson, CEO and Cliff Illig, Vice Chairman. The purchase transaction of the property was made between Cerner Corp. and the development entity. The spokeswoman of Cerner Corp. refused to comment about the purchase further this Monday and informed that a press event is expected to be conducted next week in order to hold a discussion on the development of the Three Trails. The officials of Cerner Corp were not available for comments.  Last summer, the Missouri Development Finance Board received the documents about the Three Trails property, which revealed that the estimated cost of the property is $44.2 million.

It is expected that Cerner would initiate the process of construction at its newly acquired site by this year 2014. The first phase of construction on the site is expected to have an office space measuring 578,500 sq. ft. that will have two buildings along with a service centre.  Based on the document filed by the Cerner officials to the city officials, this building work would create more than 2260 jobs during the first phase.