REBusinessOnline

Marcus & Millichap Brokers Sale of 10,000 SF Property Net Leased to Fortiline Waterworks in Kansas City

KANSAS CITY, KAN. — Marcus & Millichap has brokered the sale of a 10,000-square-foot property net leased to Fortiline Waterworks in Kansas City. The sales price was not disclosed. Fortiline is a wholesale distributor of underground water, sewer and storm utility products. The property, built in 2017 as a build-to-suit for Fortiline, is located at 330 S. 59th Lane on a four-acre lot. Patrick Doherty, Douglas Diffie, David Houston, Bruce Bentley III and Scott Ryan of Marcus & Millichap …

Waypoint Residential Acquires Four Multifamily Properties in Midwest

ILLINOIS, KANSAS AND OHIO — Waypoint Residential has acquired three multifamily properties and one student housing property in the Midwest. Neither the purchase price nor the sellers were disclosed. The properties include the 196-unit Legacy at Poplar Creek in Schaumburg, Ill.; the 70-unit Two Itasca Place in Itasca, Ill.; the 184-unit The Attleigh in Columbus, Ohio; and the 500-bed Rockland West near the University of Kansas in Lawrence. Dan Price leads Waypoint’s acquisitions in the …

LANE4 Completes Development of 89-Room Home2 Suites in Kansas City, Kansas

KANSAS CITY, KAN. — LANE4 Property Group has completed a new Home2 Suites by Hilton hotel in Kansas City. The 89-room property is connected to an Applebee’s restaurant. The project, formerly home to a rundown retail and office center, totals just over 65,000 square feet. Home2 Suites features kitchens, in-room desks, a pool, fitness center, guest laundry and meeting space. Applebee’s underwent an extensive interior and exterior remodeling with new furniture and 16 televisions. Davidson …

Disaster-Restoration Firm Purchases Headquarters Building in Shawnee, Kansas for $3.2M

SHAWNEE, KAN. — Fire and water damage restoration company ServiceMaster DSI is relocating the headquarters for its national large loss division, ServiceMaster Recovery Management, to Shawnee this month. The 47,000-square-foot office building will also serve as the fire and water damage restoration company’s regional headquarters for Missouri and Kansas. The property is situated on four acres at 8450 Cole Parkway. Bill Maas of Block & Co. Inc. Realtors negotiated the $3.2 million sale on …

University of Kansas Health System Signs 105,000 SF Office Lease in Lenexa, Kansas

LENEXA, KAN. — The University of Kansas Health System has signed a 105,000-square-foot office lease at 11300 Corporate Ave. in the Southlake Technology Park in Lenexa. Combined with the 67,000 square feet the health system leased in 2017, the branch is now the sole tenant in the 172,000-square-foot building. The health system uses the space for support operations. Southlake Technology Park totals 13 buildings and more than 850,000 square feet of office space. Bob Fagan and Matt Eckert of CBRE …

NGZ Arranges Sale of 105,000 SF Retail Property Occupied by Kohl’s in Lenexa, Kansas

LENEXA, KAN. — Newmark Grubb Zimmer (NGZ) has arranged the sale of a 105,000-square-foot retail property occupied by Kohl’s in Lenexa. The sales price was not disclosed. Originally built in 1994, the property is located at 12381 W. 95th St. near Interstate 35. Michael VanBuskirk and Chris Robertson of NGZ, along with Ferd Niemann Brokerage and Consulting LLC, represented the buyer, Christie Development. Kevin Curtin of Kessinger Hunter and Jeff Dozier of Point Commercial represented the …

Block & Co. Brokers Sale of Restaurant Building in Mission, Kansas

MISSION, KAN. — Block & Co. Inc. Realtors has brokered the sale of a restaurant building formerly occupied by Runza in Mission, just south of Kansas City. The sales price was not disclosed. The 2,515-square-foot property is a pad site near the Mission West Shopping Center. David Block, Alex Block and Max Kosoglad of Block & Co. negotiated the transaction on behalf of the buyer, an investment group managed by Block & Co. The team manages the property and is in the process of …

Joint Venture Acquires 589,391 SF Industrial Portfolio in Lenexa, Kansas

LENEXA, KAN. — A joint venture between Prism Real Estate Services LLC and Ameritas Life Insurance Corp. has acquired the Lenexa Industrial Park portfolio in Kansas. The purchase price was not disclosed. The portfolio consists of 17 industrial and flex buildings totaling 589,391 square feet. Hugh Zimmer developed the properties, which are located at the interchange of I-35 and I-435. Michael VanBuskirk, David Zimmer and Chris Robertson of Newmark Grubb Zimmer (NGZ) represented the buyer in the …

TGC Completes $1.9M Interior Renovation of 82-Room TownePlace Suites in Wichita, Kansas

WICHITA, KAN. — TGC Development Group has completed a $1.9 million interior renovation of the TownePlace Suites by Marriott Wichita East. The 82-room, extended-stay hotel is located at 9444 E. 29th St. Renovations include fully updated guest rooms and new furniture, flooring and décor in the lobby. The hotel is designed for travelers who need accommodations for longer stays, including fully equipped kitchens and separate working areas. Wichita-based SBA Construction was the general …

Phillips Development Buys 1.5-Acre Site, Plans 100,000 SF Self-Storage Facility in Kansas City

KANSAS CITY, KAN. — Phillips Development and Realty (PDR) has acquired a 1.5-acre land parcel on Southwest Boulevard in Kansas City. The firm plans to build a 100,000-square-foot, 710-unit self-storage facility on the site. Construction of the Class A development is slated to begin during the third quarter of 2018 and be completed in the third quarter of 2019. Kansas City presents opportunities for development as the population continues to grow and employers expand, according to Donald …