REBusinessOnline

Johnson County, Kansas: A Midwest Hub for Industry and Innovation

Once referred to by developers as a “well-kept secret,” the Kansas City metro area is quickly developing a global reputation for skilled workforce, strong infrastructure, affordable housing and competitive overhead costs like transportation and utilities.  “Kansas City is a region rising. We are dispelling the notion that Kansas City is a well-kept secret,” says Tim Cowden, president and CEO of Kansas City Area Development Council. “There is growing recognition among site locators …

Tutera Completes $55M Senior Living Community Near Kansas City

PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health has completed construction of Mission Chateau Senior Living Community in Prairie Village, just south of Kansas City. Development costs for the 214,800-square-foot, 18.4-acre development were estimated at $55 million. The community features 22 independent living villas, 121 independent living apartments, 40 assisted living units and 40 memory care units. Other offerings include on-site home healthcare and several Tutera rehabilitation …

Office Sharing Is on the Rise in Overland Park, Kansas

For those of you not familiar with Overland Park, Kansas, and its progressive office market, below are a few key points to help illustrate the relative size and economic strength of one of Kansas City’s most dynamic suburbs. • Incorporated in 1960, Overland Park is the second-most populous city in Kansas. • As of 2017, the unemployment rate was 3.1 percent. • It contains 17 percent +/- of metro Kansas City’s total office inventory. • $69,888 per capita income in …

NGZ Brokers Sale of Former Silpada Headquarters in Lenexa, Kansas

LENEXA, KAN. — Newmark Grubb Zimmer (NGZ) has brokered the sale of the former Silpada Jewelry headquarters building in Lenexa for an undisclosed price. The Class A facility includes 150,000 square feet of office space and 65,000 square feet of industrial warehouse space. Scott Bluhm, David Zimmer, Tracey Mann and Nick Pickard of NGZ marketed the property on behalf of Silpada, which ceased operations in 2016. Heart to Heart International purchased the

Colliers Negotiates Sale of 46,748 SF Industrial Property in Olathe, Kansas

OLATHE, KAN. — Colliers International has negotiated the sale of a 46,748-square-foot industrial building in Olathe for an undisclosed price. The property is located at 220 N. Mahaffie St. John Stafford of Colliers represented the seller, Steven Rogers. Chimney Corner Investments LLC purchased the asset. Tenants were not

Alliant Provides $23.8M Refinancing for Retail Property in Olathe, Kansas

OLATHE, KAN. — Alliant Credit Union has provided a $23.8 million loan for the refinancing of Olathe Pointe Center, a 142,506-square-foot retail property in Olathe. Some of the tenants include Party City and Justice. The 10-year loan features a 25-year amortization schedule. Mark Reichter of Q10 Triad Capital Advisors Inc. arranged the loan transaction. The borrower was not

112-Room Best Western Hotel Opens in Lawrence, Kansas

LAWRENCE, KAN. — The Martens Companies has completed development of the 112-room Best Western hotel in Lawrence in northeastern Kansas. It is the first property developed within the mixed-use project known as The Mercato. Amenities include an indoor saltwater pool, fitness center, grilling patio and fire pits within an outdoor courtyard. The hotel also offers 840 square feet of meeting space. Steve Martens of The Martens Companies worked with his hotel development subsidiary, Hospitality …

Timberland Partners Purchases 342-Unit Multifamily Property in Shawnee, Kansas

SHAWNEE, KAN. — Timberland Partners has purchased The Retreat of Shawnee for an undisclosed price. The 342-unit multifamily property, originally built in 1984, consists of one- and two-bedroom floor plans. Amenities include a pool, fitness center and clubhouse. Timberland will undertake a $2.6 million improvement plan to renovate units and amenities. Jeff Stingley of CBRE represented the undisclosed seller. This is the seventh and final purchase for Timberland Partners Fund

Arbor Provides $1.6M Acquisition Financing for Multifamily Property in Hutchinson, Kansas

HUTCHINSON, KAN. — Arbor Realty Trust Inc. has provided a $1.6 million Fannie Mae loan for the refinancing of Sandhill Properties in Hutchinson, about 50 miles northwest of Wichita. The 48-unit, garden-style property features amenities such as a swimming pool, basketball court and carports. Eugene Yanovskiy of Arbor originated the 12-year, fixed-rate loan, which features a 30-year amortization schedule. The borrower was not

Sealy & Co. Purchases 601,829 SF Distribution Facility in Suburban Kansas City

OLATHE, KAN. — Sealy & Co. has purchased a 601,829-square-foot distribution facility in Olathe, a suburb of Kansas City. The purchase price was not disclosed. The building, situated on 40 acres at 22101 W. 167th St., is fully leased to FedEx and Bushnell. The property features a clear height of 32 feet, 128 dock doors, two drive-in doors and office space. Adam Herrin, Stephen Bailey and Sean Fogarty of HFF, along with Dan Jensen of Kessinger/Hunter & Co. LC brokered the transaction. …

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