REBusinessOnline

Pinnacle Contracting to Complete $9M Apartment Conversion in St. Louis

ST. LOUIS — Pinnacle Contracting Inc. has been selected by St. Louis-based developer Pier Property Group to complete the $9 million historic renovation and conversion of the Steelcote Manufacturing Co. paint factory in St. Louis. Pinnacle will transform the 42,000-square-foot property into 33 apartment units. The original five-story building will house 31 units. A second adjoining structure will house the leasing office and bike storage. A third building will be home to two additional units. …

Midas Opens Dual-Branded Marriott Hotel in Western Suburb of St. Louis

WEST COUNTY, MO. — Midas Hospitality has opened a dual-branded Residence Inn and Courtyard by Marriott in West County near St Louis. Midas will manage both the 101-room Residence Inn and the 110-room Courtyard by Marriott. The four-story, 136,000-square-foot hotel is located at the intersection of Manchester Road and I-270. Developer Commercial Development Co. Inc. will own the property. MC Hotel Construction built the hotel. Amenities include a fitness center, indoor pool, meeting rooms and …

Howard Commercial Arranges Sale of 4,000 SF Office Building in Kirkwood, Missouri

KIRKWOOD, MO. — Howard Commercial has arranged the sale of a two-story, 4,000-square-foot office building in Kirkwood, a suburb of St. Louis. The sales price was not disclosed. The building, located at 108 N. Kirkwood Road, includes first-floor retail space. Howard represented the buyer, Bean Realty, which plans to open a specialty popcorn retail store within the retail space. A digital marketing company occupies the second

Franklin Partners Acquires 174,965 SF Corporate Hill Office Building in St. Louis

ST. LOUIS — Franklin Partners has acquired the 174,965-square-foot Corporate Hill IV office building in St. Louis for an undisclosed price. The six-story building was constructed in 1984 and renovated in 2015. Amenities include a full-service cafeteria, one loading dock and exterior balconies on the fifth and sixth floors. A single tenant previously occupied the property. TJ Redmond of CBRE represented the undisclosed seller. Mark Palmer and Artie Kerckhoff of CBRE represented Franklin …

Springfield Hospitality Purchases Holiday Inn & Suites in Springfield, Missouri

SPRINGFIELD, MO. — Springfield Hospitality Inc. has purchased the 188-room Holiday Inn & Suites in Springfield for an undisclosed price. Located at 2720 N. Glenstone Ave., the hotel features amenities such as a heated indoor pool, fitness center, complimentary Wi-Fi and the Peppertree Restaurant and Cocktail Lounge. Nate Sahn, Pravin Boteju, James Foxx and Tom Adamson of CBRE Hotels represented the undisclosed seller in the

Lutheran Senior Services Begins $70M Independent Living Expansion in Missouri

TOWN AND COUNTRY, MO. — Lutheran Senior Services has started construction of an independent living expansion of Mason Point, a seniors housing community in the St. Louis suburb of Town and Country. The $70 million expansion will add 156 new units to the community, as well as new amenities. The project will include a three-story, 390,000-square-foot building with underground parking, a wellness center and an indoor pool. The new property will connect to an adjacent building that will be …

Griffin-American Purchases 1,112-Bed Skilled Nursing Portfolio in Missouri for $88.2M

MISSOURI — Griffin-American Healthcare REIT IV Inc., which is co-sponsored by American Healthcare Investors and Griffin Capital Co. LLC, has acquired a portfolio of skilled nursing facilities located throughout the state of Missouri for $88.2 million. The portfolio comprises eight facilities totaling 1,112 licensed beds and approximately 385,000 square feet. Affiliates of Reliant Care Management Group sold the properties, and will continue to operate them under a 15-year absolute net lease …

Remiger Design Unveils Master Plan for Redevelopment of Former Crestwood Mall in Suburban St. Louis

CRESTWOOD, MO. — Architectural firm Remiger Design has unveiled a master plan for the redevelopment of the former Crestwood Mall in suburban St. Louis. Remiger is working with Chris Cedergreen, a commercial real estate design advisor. Plans call for more than 794,000 square feet of retail, office and residential space. The retail portion will feature 160,000 square feet, including a pharmacy, four outlots and a cinema. The office portion will include 240,000 square feet of office and medical …

Fields Foods to Open at Multifamily Development in St. Louis

ST. LOUIS — Fields Foods is opening a store at the [email protected] in St. Louis. The grocer will occupy the remaining 8,186 square feet of commercial space on the ground floor of the 87-unit loft development, which opened in 2016. Fields Foods plans to be open for business later this year. The property originally opened in 1910 and served as the headquarters for the Langan & Taylor

NAI Desco Brokers $5.5M Sale of Office Building in Suburban St. Louis

CREVE COEUR, MO. — NAI Desco has brokered the sale of Ballas Place in Creve Coeur for $5.5 million. The 78,252-square-foot office building is located at 425 N. New Ballas Road. Constructed in 1980, the property is 74 percent occupied by tenants such as Central Bank of St. Louis, Trileaf Corp., Brookdale Senior Living and Povaddo. Bamboo Equity Partners, the buyer, plans to invest $4 million in building upgrades over the next year. Plans call for the transformation of the two-story atrium into …

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