The parent company of Lever1 and Gragg Advertising will become the newest tenant at the former Swiss Re headquarters, redeveloped and rechristened as Summit52.
The company plans to take the space in the second quarter, according to the release. Blue Chair will join the redeveloped property’s first tenant, Interstate Accessories Co., which signed a lease for about 35,000 square feet in September 2021; IAC also is in the south portion of Summit52.
SomeraRoad Inc. acquired the 26.2-acre property in July 2020 from Lexington Realty Trust, a New York-based REIT, for an estimated $5.6 million. The campus lost Swiss Re (to Kansas City) and Cargill (to Olathe) in 2018, and the REIT’s lender foreclosed on the property in 2019.
After the purchase, SomeraRoad launched an effort to modernize the space with new common areas and amenity spaces, plus its new name. Included among Summit52’s renovations — concluded in early 2021 — were new gathering spaces, two conference facilities, a grab-and-go cafeteria, fitness room, putting green terrace, outdoor patios, and pickleball and basketball courts. An indoor rainforest concept in a four-story atrium and felt wall panels on the lower-level windows were removed to bring in more natural light.
New York-based SomeraRoad has been busy elsewhere in Kansas City. The commercial real estate investment firm pumped $20 million into a renovation of the Lightwell tower in Downtown, and it’s in the early stages of a $500 million redevelopment of almost 22 acres it controls in the West Bottoms.