SHAWNEE, KAN. — Block & Co. Inc. Realtors has sold the Merriam Grand Station redevelopment site in Shawnee for an undisclosed price. The buyer, Drake Development, plans to redevelop the former Kmart and Pegah’s sites into two apartment buildings with retail and restaurant space. Drake will keep the Merriam Grand Station name. Completion is slated for 2025. Block & Co. will retain the management and leasing of the front lots on both sides of the development, including the Freddy’s Frozen Custard and the Krispy Kreme as well as the Shell gas station and the Chipotle that is under construction. David Block, Max Kosoglad and Alex Block of Block & Co. and Matt Pennington of Drake represented the respective parties in the sale.
LAWRENCE, KAN. — McCarthy Building Cos. Inc. will build a $70 million improvement project for the Kansas River Wastewater Treatment Plant located at 1400 E. 8th St. in Lawrence. The project marks the city’s second-largest funded wastewater project. The improvements are required to meet the National Pollutant Discharge Elimination System regulatory permit requirements issued by the Kansas Department of Health and Environment. The plant, which receives nearly 80 percent of the city’s wastewater, originally opened in 1956 and has an average daily flow of 8 million gallons per day. Preconstruction efforts are underway, with official groundbreaking slated for May 2023. Completion is scheduled for fall 2026.
LAWRENCE, KAN. — Quantum Real Estate Advisors Inc. has arranged the sale of a multi-tenant retail strip center in Lawrence for $3.5 million. Jersey Mike’s, which recently signed a new 10-year lease, anchors the property, which is located at 4801 Bauer Farm Drive. Zack Hilgendorf of Quantum represented the undisclosed buyer. The property sold to a family office based in Wichita.
KANSAS CITY, KAN. — Rau Construction has completed a significant renovation of Town House in downtown Kansas City. Formerly known as Cross Lines Tower, the property is now home to 130 units for seniors age 55 and older who earn between 30 and 60 percent of the area median income. The building originally opened in 1951 as a hotel and was converted into affordable housing in 1981. Amenities include a meeting room, tenant lounge, outdoor patio and garden area, community room and laundry facilities. UMB Bank provided $25.5 million in construction and equity bridge loans and, through Hunt Capital Partners, a $17.4 million low-income housing tax credit equity investment to fund and finance the $42 million project. KeyBank provided permanent financing. Additional financing partners included Commerce Bank, Kansas Housing Resource Corp., Kansas Development Finance Authority and the North East Economic Development Corp. The development team included Foutch Brothers as the architect, Hughes Development Co. and Tier 1 Development Group LLC as co-developers and Universal Management Inc. as property manager.
SALINA, KAN. — Lument has provided a $21.6 million Fannie Mae loan for the refinancing of Eaglecrest Retirement Community in Salina, a city in central Kansas. Constructed in 2004, the independent and assisted living community features 102 units. Bill Wilson, Doug Harper and Casey Moore of Lument originated the loan. Midwest Health Inc. manages the property.
LAWRENCE, KAN. — Northmarq has arranged the sale of 901 Lofts in Lawrence for $11.5 million. The apartment building rises seven stories with 55 units. Built in 2011, the property at 901 New Hampshire St. includes 20,843 square feet of commercial space. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, First Management Inc. Buyer information was not provided.
SHAWNEE, KAN. — Northmarq has arranged the sale of Arbor Square in Shawnee for $21.1 million. Built in 1971, the 195-unit multifamily property is located at 7613 Flint St. Gabe Tovar and Jeff Lamott of Northmarq brokered the sale. Brett Hood of Northmarq originated a $13.8 million Freddie Mac loan for the acquisition on behalf of the buyer, Quad Property Group. Axiom Equities was the seller.
MISSION, KAN. — The Other Place, a sports-themed pizzeria and grill, has signed a 4,050-square-foot lease to open its fourth Kansas City-area location. The restaurant will occupy space within the Mission West shopping center at 6522 Martway St. The Other Place expects to open its Mission location in the beginning of 2023. Block & Co. Inc. Realtors serves as the leasing agent and property manager for Mission West. Block & Co.’s Phil Peck and Dakota Grizzle represented the tenant, while David Block, Max Kosoglad and Darren Siegel represented ownership. The Other Place now operates 11 locations throughout Kansas and Iowa. Its first location opened in Cedar Falls, Iowa, in 1970.
OVERLAND PARK, KAN. — HNTB has signed a 25,650-square-foot office lease to relocate its Overland Park office to Aspiria. The lease commences in January. HNTB offers engineering and architecture services for infrastructure. Its recent notable projects include the Denver International Airport, the Las Vegas Raiders’ Allegiant Stadium and the Los Angeles International Airport. Locally, HNTB has worked on the University of Kansas Memorial Stadium renovation, the Buck O’Neil Bridge replacement project and the KC streetcar extension. Dina Zavislak and Charles Daggett of Savills, along with Chris Wally of Wally & Co., represented HNTB. Occidental Management owns the 207-acre Aspiria campus, which is a redevelopment of the former Sprint headquarters.
OVERLAND PARK, KAN. — Sethmar Transportation has signed a 20,000-square-foot lease at the Aspiria office campus in Overland Park. Sethmar expects to take occupancy of its new headquarters space in October. The company will maintain operations in Colorado, Arkansas and Illinois. The Overland Park office will house approximately 50 employees focused on providing freight forwarding and logistics solutions. Jim Gates of JLL represented Sethmar. Occidental Management owns Aspiria, which is a redevelopment of the former Sprint campus.