APT MotoVox Group Inc. (MTVX)

[BlueRayn]

Cerner pays $8.9M for Montgomery Ward building, adjacent structure
Rob Roberts
Kansas City Business Journal

Cerner Corp. has bought the former Montgomery Ward & Co. building at 8844 Hillcrest Road — one of the final pieces of a 290-acre land assemblage that will become the Trails Campus.

According to SEC documents, APT MotoVox Group Inc. sold Cerner the Ward building, a smaller lab building it occupies at 8830 Hillcrest Road and the 19.8 acres they sit on for $8.9 million on Nov. 5.

APT MotoVox Group received cash proceeds of $1.8 million from the sale after paying off its existing mortgage and separating from it federal New Market Tax Credit financing. APT Motovox, which manufactures dirt bikes, go-karts and engine performance components, used $2 million in New Markets Tax Credits to help finance its $7.7 million purchase and renovation of the 108,000-square-foot Ward building in 2011. At that time, APT MotoVox was known as American Performance Technologies .


On the same day it sold its former Bannister Mall properties to Cerner, APT MotoVox entered into an agreement to lease them back.

The Nov. 5 lease agreement calls for APT MotoVox to lease the Ward building from Cerner for $18,333 a month though July 1, 2017. It will lease the lab building for $1,663 a month through April 1, 2018.

On Nov. 12, Cerner broke ground on the former Bannister Mall site for its the Trails Campus — the largest economic development project in Missouri history.

The $4.45 billion campus will generate 16,000 Cerner jobs in the next decade. Work on the first tower will begin this year, with completion expected by 2016. When built out in 2025, the 4.7 million-square-foot campus will have 4.3 million square feet of offices, two data centers, a service center, a training/conference center, a day-care center, a clinic and 370,000 square feet for restaurants, stores and a hotel.