Sunday, February 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Kansas

DevelopmentKansasLife SciencesMidwest

JE Dunn, Hutton Break Ground on $172.5M Wichita Biomedical Campus in Kansas

by Kristin Harlow

WICHITA, KAN. — General contractor partners JE Dunn and Hutton have broken ground on the Wichita Biomedical Campus (WBC), a $172.5 million project rising eight stories and totaling 350,000 square feet in Wichita. The development marks a partnership among Wichita State University (WSU), The University of Kansas (KU) and WSU Tech. The consortium of schools enlisted the design team of Kansas City-based Helix Architecture + Design and Los Angeles-based CO Architects for the interdisciplinary healthcare education destination that will combine several programs into one location. WSU’s College of Health Professions and Speech-Language-Hearing Clinic, WSU Tech’s nursing and surgical tech programs and the Wichita campuses of KU School of Medicine and KU School of Pharmacy will collocate at the new campus. Completion of the WBC is slated for 2026. A street-facing, three-story pavilion will house three 80-seat classrooms and will easily convert into an events venue. A portion of the pavilion’s roof will be an outdoor terrace. Inside, shared learning spaces will include advanced laboratories and simulation rooms for hands-on training. The building is designed to accommodate approximately 3,000 students and 200 faculty and staff. The project team also includes mechanical, electrical and plumbing engineer Henderson Engineers, structural engineer KPFF, civil …

Continue Reading
FacebookTwitterLinkedinEmail
KansasMarket ReportsMidwestMidwest Market ReportsMissouriRetail

What’s Driving New Growth in Metro Kansas City?

by Kristin Harlow

By Garrett Cohoon, Block & Co. Inc. Realtors The commercial real estate activity in the Kansas City metropolitan area showed substantial growth in 2024 for the retail, multifamily and industrial sectors. The office sector is still seeing record vacancy rates, but the annual loss over 2023 is slowing down. According to CoStar, the office vacancy rate for 2024 is up 11.8 percent in Kansas City while the national index is at a 13.9 percent increase. That’s only 0.5 percent higher than last year in Kansas City and we expect to see that trend turn around in the next year.  The retail sector saw new brands like Aritzia grow into the Kansas City market. Whataburger opened its 14th location in the past two years as drive-thru restaurants have continued to be a preference for consumers and investors alike. Wellness-based businesses and health clinics have also made good strides in the market.  Kansas City has seen an increase in new experiential attractions this year, including national businesses like Puttery minigolf, Andretti indoor karting and SandBox VR. These new attractions have been key to many new development complexes and redevelopments of existing strip centers. Mattel also announced a new adventure park to be …

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialKansasLoansMidwest

Gantry Arranges $32M Permanent Loan for Industrial Building in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Gantry has arranged a $32 million permanent loan to retire construction financing for Lenexa Logistics Centre North #5 in Lenexa, a suburb of Kansas City. The fully leased property on Mill Creek Road was completed in 2022 and totals 565,170 square feet. The multi-tenant building offers immediate access to I-35, I-435 and Highway 10. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. An insurance lender provided the 10-year loan, which features a fixed interest rate and introductory interest-only period transitioning to a 30-year amortization schedule.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialKansasLoansMidwest

BWE Arranges $13.2M in Financing for 200,000 SF Industrial Building in Wichita, Kansas

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
KansasLeasing ActivityMidwestRetail

Chase Bank, 7 Brew to Open at Oslo Marketplace in Suburban Kansas City

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
KansasMarket ReportsMidwestMidwest Market ReportsRetail

How to Transform the Retail Landscape in Topeka, Kansas

by Kristin Harlow

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 …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialKansasMidwest

Contegra Construction Completes 1 MSF Distribution Center in De Soto, Kansas

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKansasMidwestMultifamily

Berkadia Arranges Sale of 448-Unit Multifamily Property in Suburban Kansas City

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKansasLoansMidwestMultifamily

Northmarq Provides $42M Acquisition Loan for Apartment Complex in Overland Park, Kansas

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKansasMidwestMultifamilyStudent Housing

Preiss Co. Acquires 784-Bed Student Housing Community Near University of Kansas

by Kristin Harlow

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.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts