OLATHE, KAN. — Block & Co. Inc. Realtors has negotiated the sale of Rosebud Plaza Shopping Center in Olathe for an undisclosed price. The 106,324-square-foot shopping center is located on the northeast corner of 135th Street and Mur Len Road. Hobby Lobby and Goodwill anchor the property, which sits on 8.2 acres. David M. Block and Jay Friedman of Block & Co. negotiated the sale on behalf of the seller, Sixteen Main Co. LLC. The buyer was not disclosed.
WICHITA, KAN. — Bellwether Enterprise has arranged a $7.2 million CMBS loan for the acquisition of two manufactured housing communities in Wichita. River Oaks features 275 mobile homes while Lamplighter includes 225 mobile homes. Amenities include basketball courts, storage facilities and swimming pools. MJ Vukovich of Bellwether arranged the loan for the borrower, Park Street Partners. Benefit Street Partners was the lender.
OLATHE, KAN. — Passco Cos. has acquired Greenwood Reserve in Olathe, a suburb of Kansas City, for $38.3 million. The 228-unit apartment property, built in 2016, is located at 13825 College Blvd. Amenities include a pool, community grilling area, cyber café, business center, resident lounge and fitness center with yoga studio. Jeff Stingley of CBRE represented both Passco and the seller, an affiliated entity of Cityscape Residential. Chris Black and Caleb Marten of KeyBank Real Estate Capital..
TOPEKA, KAN. — Marcus & Millichap has arranged the sale of a 4,828-square-foot property net leased to IHOP in Topeka for $2.6 million. The restaurant is located at the intersection of U.S. Highway 24 and Topeka Boulevard. Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap secured and represented the buyer, also a limited..
WICHITA, KAN. — The Opus Group has begun construction on a new headquarters for Cargill’s North America protein business in Wichita. The 190,000-square-foot build-to-suit is slated for completion in October 2018. The property will feature four stories of office space with a technology center, presentation kitchen, sensory center kitchen and testing booths. Up to 950 employees will work at the office. Opus Design Build is constructing the project in collaboration with Key Construction. HOK..
LAWRENCE, KAN. — NorthMarq Capital has arranged a $2.8 million loan for the refinancing of Jacksonville Apartments in Lawrence, about 40 miles west of Kansas City. The 88-unit apartment property is located at 700 Monterey Way. Brent Blake of NorthMarq arranged the 10-year loan through Freddie Mac’s small balance loan program.
OVERLAND PARK, KAN. — Planet Fitness has signed an 18,052-square-foot lease to open a new location in Overland Park. Best Buy is a co-tenant at the 65,000-square-foot property, which is located at 9301 Quivira Road. Construction of a new entrance and façade is currently underway. David M. Block, William Glasgow and Alex Block of Block & Co. Inc. Realtors negotiated the long-term lease. Block & Co. Development & Construction Management LLC is responsible for the construction of..
DERBY, KAN. — MedProperties Holdings LLC, CarrBaierCrandall Real Estate Group (CBC) and Candor Healthcare LLC have formed a joint venture to develop Rock Regional Hospital in Derby, a southern suburb of Wichita. The 31-bed, 89,500-square-foot facility will be located near Rock Road and Patriot Avenue on a 15-acre parcel. The site includes two additional land parcels for future healthcare facilities, such as a medical office building and a freestanding inpatient rehabilitation hospital. Other..
OLATHE, KAN. — Colliers International has brokered the sale of a 12,000-square-foot industrial building in Olathe for an undisclosed price. The property is located at 15150 South Keeler St. John Stafford of Colliers represented the seller, Fisher Properties LLC. Rob Holland of Cushman & Wakefield represented the buyer, March Properties LLC.
The greater Kansas City area retail market remains solid as a rock, despite CoStar Group’s mid-year report showing a slight decline in the average asking rental rate and a slight increase in vacancy. The retail vacancy rate in the second quarter of 2017 stood at 5.7 percent, up slightly from the previous quarter’s 5.5 percent. The average asking rental rate for retail is $13.05 per square foot, down from $13.07 in the previous quarter.
Local, regional and national restaurant chains..