WICHITA, KAN. — BWE has arranged $13.2 million in financing for Iron Horse Building 1, a Class A industrial building totaling more than 200,000 square feet in Wichita. The property is located within the Iron Horse Manufacturing Park and is fully leased to AGCO Corp., an agricultural machinery and precision technology company. Dan Rosenberg, Tim Caffrey and Logan Petersmeyer of BWE arranged the loan on behalf of a Kansas City-based developer through a life insurance company.
OVERLAND PARK, KAN. — Chase Bank and 7 Brew are slated to open at the Oslo Marketplace in South Overland Park, a suburb of Kansas City. The lease signings represent the first announcements in the new development. Mark McConahay and David Block of Block & Co. Inc. Realtors represented the owner, Frey Development, in the negotiations. Oslo Marketplace is the retail component to the redevelopment of the former Frey and Frey Mission Gardens Nursery site, which had been in business since 1972. Also part of the project is Oslo Living, which is nearly complete with 413 luxury apartment units developed by Ryan Cos. Four pad sites remain available.
By Cody Foster, Advisors Excel Topeka, the capital city of Kansas, has a population of approximately 125,000 people, located in a 12-county region with over 531,000 residents. The region’s population has grown over the past five years and is expected to increase by another 2.1 percent between 2023 and 2028. With an unemployment rate of around 3.5 percent as of mid-2024, the city’s economic outlook remains stable, providing a solid foundation for redeveloping key commercial properties — including the West Ridge Mall, the third-largest indoor shopping center in Kansas at 992,000 square feet. Since it opened in 1988, the West Ridge Mall has been a significant part of the city’s commercial landscape. The site features ample parking and anchors the Wanamaker Road commercial corridor, the region’s most significant retail hub, which garnered $1 billion in retail, grocery and dining spending during the past 12 months. However, like many malls nationwide, it faces challenges in a rapidly evolving retail environment. Retail trends: following consumer behavior The West Ridge Mall has seen a steady decline in business and occupancy over the last decade. Anchor stores Macy’s and Sears closed in 2012 and 2018, respectively. Various management companies tried to keep the retail …
DE SOTO, KAN. — Contegra Construction Co. has completed a 1 million-square-foot distribution center at Flint Commerce Center in De Soto, a southwest suburb of Kansas City. Flint Development is the developer for the 370-acre industrial park. Panasonic has leased half of the building to support a nearby battery manufacturing facility under construction. Located at 10200 Edgerton Road, the cross-dock distribution center features a clear height of 40 feet. There are 98 dock doors with four drive-through doors, and parking is available for 515 cars and 251 trailers. The project team included Davidson Architecture and Engineering, BHC Civil Engineering & Surveying, PKMR Engineers, Wallace Engineering and CFS Engineers.
OVERLAND PARK, KAN. — Berkadia has arranged the sale of The Highlands, a 448-unit multifamily property in the Kansas City suburb of Overland Park. The community features one-, two- and three-bedroom units with two saltwater pools, a fitness center, renovated clubhouse and business center. Jason Parr, Scott MacDonald, John Hansen, Michael Spero and Niko Vrentas of Berkadia represented the seller, California-based St. Regis Properties LLC, and the buyer group, which acquired the property through San Francisco-based sponsor Hamilton Zanze & Co. Clay Akiwenzie of Berkadia arranged $53.3 million in permanent acquisition financing on behalf of the buyer. Fannie Mae provided the 10-year loan.
OVERLAND PARK, KAN. — Northmarq has provided a $42 million Freddie Mac loan for the acquisition of The Sovereign at Overland Park, a 250-unit apartment complex in the Kansas City suburb of Overland Park. Built in 2013 and located at 13310 Melrose Lane, the property offers one-, two- and three-bedroom units. Amenities include private garages, a resort-style pool, gated pet park and 24-hour fitness center. Greg Duvall of Northmarq originated the loan on behalf of the borrower, Sovereign Apartments LLC. The 10-year loan features a fixed interest rate.
LAWRENCE, KAN. — The Preiss Company has acquired The Collective at Lawrence, a 784-bed, cottage-style community located near the University of Kansas in Lawrence. Formerly known as The Nest, The Collective at Lawrence was built in 2018 and offers 270 units. Shared amenities include a state-of-the-art clubhouse, indoor/outdoor fitness center, swimming pool, hot tub, disc golf course, soccer field and study areas. Enhancements are planned for the community and will include comprehensive technology upgrades.
KANSAS CITY, KAN. — TruCore Investments has purchased a 17,250-square-foot cross-dock truck terminal and maintenance facility at 6125 Speaker Road in Kansas City. The industrial outdoor storage property is situated on 5.4 acres and features 31 dock doors, two drive-in bays and a fully fenced concrete yard. Initially, the facility will be leased for a short term to the current tenant. Following this period, TruCore will market the property for lease.
PHOENIX — U-Haul (NYSE:UHAL.B), a national provider of moving and storage services, has acquired a four-property portfolio of self-storage facilities in the Midwest totaling 3,345 units. NexPoint Storage Partners, the self-storage arm of Dallas-based NexPoint, sold the portfolio for an undisclosed price. Three of the facilities are concentrated in the Twin Cities region of Minnesota, and the fourth is located in Kansas City, Kan. The properties include 101 American Blvd. W and 3216 Winnetka Ave N in Minneapolis; 631 Transfer Road in St. Paul, Minn.; and 500 Southwest Blvd. in Kansas City. U-Haul has begun operating the assets under its own brand of self-storage and moving services. Extra Space Storage formerly operated the facilities. The portfolio totals 327,791 net rentable square feet of climate-controlled space. Overall, the portfolio was 88 percent occupied at the time of sale. JLL represented NexPoint Storage Partners in the transaction. In addition to the acquisition, U-Haul is growing its footprint in the Twin Cities area via a new U-Haul Moving & Storage location in Ramsey, located northwest of Minneapolis. The facility represents U-Haul Co. of Northern Minnesota’s first ground-up build. U-Haul acquired the 8.7-acre property at Highway 10 and Riverdale Drive last week. The lot was …
NEW CENTURY, KAN. — BGO and Yukon Real Estate Partners have broken ground on a 291,000-square-foot cold storage warehouse in New Century, about 30 miles outside of Kansas City. Slated to open in the third quarter of 2025, the development is fully leased to CJ Logistics America, which plans to dedicate a majority of the building’s space to Flora Food Group. The project site is adjacent to Flora Food Group’s production plant. An above-ground conveyor bridge will connect the two buildings. Once completed, the conveyor bridge will enable finished products to be delivered directly into the warehouse for cold storage. The development will also feature a direct connection to the BNSF Railway. Approximately 85 percent of the U.S. is reachable within two days from the development by highway, rail or air, according to the development team.
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