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.
SALINA, KAN. — Blue West Capital has arranged the $9 million sale of Sunset Plaza in Salina, a city in central Kansas. Dillons, a division of Kroger, anchors the 126,606-square-foot shopping center. The Dillons store was remodeled in 2019 and a fuel center was added in 2020. Originally constructed in 1960, Sunset Plaza was nearly fully leased at the time of sale. Robert Edwards, Zach Wright and Shawn Dickmann of Blue West Capital represented the seller, a Kansas-based private equity real estate company. The property sold at 97 percent of the asking price to a Denver-based buyer completing a 1031 exchange.
LENEXA, KAN. — CBRE has brokered the sale of Park Edge in Lenexa for an undisclosed price. Located at 8201 Renner Road, the apartment community consists of 260 units across 29 buildings. Units average 1,131 square feet each. Completed in 1999, Park Edge features amenities such as a fitness center, clubhouse and indoor and outdoor pools. Jeff Stingley and Max Helgeson of CBRE represented the seller, Maxus Realty Trust Inc. Kansas City-based Cohen-Esrey was the buyer.
