Cerner Enters Into Agreement To Purchase Former Bannister Mall Site

KANSAS CITY, Mo., Aug. 1, 2013 (GLOBE NEWSWIRE) -- Cerner Corp. (Nasdaq:CERN) has entered into an agreement to purchase approximately 237 acres in the Three Trails Crossing region on the site of the former Bannister Mall, pending the completion of due diligence activities and the securing of appropriate financial incentives. The company plans to use the location as a site to accommodate expected growth.

"Cerner's significant growth necessitates that we plan now to accommodate our future space needs," said Marc Naughton, chief financial officer. Naughton added that if conditions to close are satisfied, it is anticipated the purchase would be completed by the end of 2013. Cerner already employs 2,866 associates at its nearby Innovation campus. The new site would be an extension of that campus. Cerner currently employs 8,794 in the Kansas City metropolitan area. The expanded campus, if constructed, would potentially house 12,000-15,000 additional associates upon full build-out, which would be based on Cerner's growth and occur over an extended period.

Cerner anticipates the extended campus would include on-site daycare, a clinic for associates, fitness facilities, food service and training spaces. It could also house future data centers as needed. A portion of the site may be made available to be developed as retail stores, restaurants, or a hotel.

"From Day One, my administration has pursued proven, fiscally responsible policies to make Missouri a more attractive place for high-tech, high-growth companies like Cerner to invest and expand," Missouri Gov. Jay Nixon said. "Today, we continue to see the results of this approach paying real dividends for communities in Kansas City and across our state. My administration will continue to work with Cerner and local officials as plans for this transformative project proceed."

Kansas City Mayor Sly James also commented on the announcement: "This is a great step forward for the former Bannister Mall site," said Mayor James. "South Kansas City has been on an impressive forward trajectory in recent months but this site has remained an issue. Redeveloping the Three Trails Crossing region into a Cerner property will turn that area into a beacon of innovation. Cerner is a valuable community partner and I deeply appreciate the company's commitment to our City. We look forward to working with Cerner to finalize a plan soon."

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