REBusinessOnline

Four-Story Home2 Suites Hotel Opens in Downtown Wichita

WICHITA, KAN. — The Home2 Suites by Hilton Wichita Downtown Delano hotel has opened. The new four-story hotel is located at 200 N. Sycamore St. It features 95 suites. Wichita-based TGC Hospitality Management is the property manager and Delano Hotel QOZB LLC is the owner. Amenities include complimentary internet, communal spaces, laundry area, fitness center, pool, grill area and daily breakfast. In response to COVID-19, the property features Hilton’s CleanStay program, which was created in …

Contegra Construction Completes First Distribution Facility at Turner Logistics Center in Kansas City

KANSAS CITY, KAN. — Contegra Construction Co. has completed the first of several planned distribution facilities at NorthPoint Development’s Turner Logistics Center in Kansas City. The 408,000-square-foot building features a clear height of 36 feet, 36 dock doors with four drive-in ramps, parking for 210 vehicles and a small office. The 250-acre Turner Logistics Center has the capacity for 3 million square feet of industrial space. Contegra also completed infrastructure improvements to …

Newmark Zimmer Arranges Sale of 56,994 SF Office Building in Overland Park, Kansas

OVERLAND PARK, KAN. — Newmark Zimmer has arranged the sale of a 56,994-square-foot office building in Overland Park for an undisclosed price. The multi-tenant property is located at 8300 College Blvd. Michael VanBuskirk, Chris Robertson, Nick Suarez and TJ Wahl of Newmark Zimmer negotiated the transaction. A private investor sold the asset to Nashville-based Excelsior Capital. With this transaction, Excelsior has expanded its portfolio to more than 360,000 square feet of office space in the …

Industrial Logistics Properties Trust Purchases Kansas City Warehouse for $44M

KANSAS CITY, KAN. — Industrial Logistics Properties Trust (NASDAQ: ILPT) has purchased a Class A warehouse in Kansas City for $44 million. Built in 2018, the 645,000-square-foot building is situated on 57 acres at 17001 W. Mercury St. The property is fully leased to one tenant, which has 12 years remaining on its lease. The sales price represents a cap rate of 6.5 percent. Industrial Logistics Properties Trust is a publicly traded REIT with 301 properties spanning 43.8 million rentable square …

Berkadia Arranges $12.4M Acquisition Loan for Multifamily Asset in Wichita

WICHITA, KAN. — Berkadia has arranged a $12.4 million Fannie Mae loan for the acquisition of Angel Fire/Southern Shores, a 138-unit multifamily property in Wichita. The complex is located at 3701 W. Angel St. and features two-, three- and four-bedroom floor plans. John Schorgl of Berkadia secured the financing on behalf of the borrower, Kansas City-based Worcester Investments. The 10-year loan features an interest rate under 3.5 percent, a 30-year amortization schedule and three years of …

Occidental Management Unveils Aspiria as New Name for Former Sprint Headquarters

OVERLAND PARK, KAN. — The new name of the former Sprint headquarters will be Aspiria, according to owner Occidental Management. The name change will be effective Jan. 1. Occidental submitted a preliminary development plan to the city in mid-September. The mixed-use project will revitalize the existing 17 buildings housing approximately 3.5 million square feet of Class A office space. Occidental will also build an additional 60 acres into retail, restaurant, entertainment, office and …

Midas Hospitality Opens $20M SpringHill Suites Hotel in Overland Park, Kansas

OVERLAND PARK, KAN. — Midas Hospitality has opened its first hotel property in Overland Park. Located at 4081 Indian Creek Parkway, the $20 million SpringHill Suites rises five stories with 128 suites. Amenities at the all-suite hotel include a fitness center, indoor swimming pool and meeting room. The property is situated near the Overland Park Arboretum & Botanical Gardens. Midas served as developer and Thomas Construction was the general contractor. Midas will manage the new hotel, …

Red Oak Financial Provides $5.4M Acquisition Loan for Multifamily Complex in Topeka, Kansas

TOPEKA, KAN. — Red Oak Financial has provided a $5.4 million loan for the acquisition of Deer Creek Apartments in Topeka. The multifamily property includes 111 units. The fixed-rate bridge loan will enable the undisclosed borrower to expand the asset into a 153-unit community through the renovation and expansion of two buildings, as well as the construction of a new eight-unit building. Completion of the expansion and revitalization project is slated for fall

Schlage Lock Co. Renews 253,440 SF Industrial Lease in Olathe, Kansas

OLATHE, KAN. — Schlage Lock Co. has renewed its 253,440-square-foot industrial lease at 2119 E. Kansas City Road in Olathe. Dan and Kurt Jensen of Kessinger Hunter represented the landlord, a fund managed by DRA Advisors LLC. Ed Elder of Colliers International represented Schlage, which is one of the nation’s largest producers of commercial and consumer locks. The building has convenient access to major highways and nearby logistics support

Amazon to Open Two New Fulfillment Centers in Kansas

KANSAS CITY AND PARK CITY, KAN. — Amazon.com Inc. has unveiled plans to open two new fulfillment centers in the state of Kansas. The centers, which are expected to open in 2021, will together create more than 1,000 new, full-time jobs. Each facility will span roughly 1 million square feet. One will be located at 9700 Leavenworth Road in Kansas City while the other will be located at 7130 N. Broadway Ave. in Park City. Amazon associates will pick, pack and ship bulky or large items such as …

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