LAWRENCE, KAN. — Marcus & Millichap has negotiated the $4.5 million sale of Lawrence 27, a 12,945-square-foot retail building in Lawrence. The property was built in 2014 and expanded in 2017. Lawrence 27 was fully occupied at the time of sale by Buffalo Wild Wings, Tropical Smoothie Café, Vapor World, Sports Clips and SunTan City. Zachary Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the buyer, a Kansas-based partnership. A Kansas City-based development firm was the seller.
OVERLAND PARK, KAN. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Lawrence, Kan.-based Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which is 90 percent leased. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of Cushman & Wakefield represented the sellers.
OVERLAND PARK, KAN. — PEBB Enterprises and Contrarian Capital Management have sold the Pinnacle Village shopping center in the Kansas City suburb of Overland Park for $16.8 million. Lawrence, Kan.-based Cherry Hill Properties was the buyer. PEBB and Contrarian purchased Pinnacle Village in May 2018 and enhanced the 108,729-square-foot center through leasing activity and property improvements. DSW and Michaels are anchor tenants at the property, which is 90 percent leased. Additional tenants include Firehouse Subs, Goldfish Swim School and First Watch. Evan Halkias and Jeffrey Benz of Cushman & Wakefield represented the sellers.
TOPEKA, KAN. — Northmarq has provided a $26.9 million Fannie Mae loan for the refinancing of The Overlook Apartments in Topeka. Built in 2002, the 318-unit apartment complex features one-, two- and three-bedroom floor plans. Amenities include an outdoor pool, hot tub, fitness center and clubhouse. Dan Trebil of Northmarq secured the fixed-rate loan. The borrower was undisclosed.
PITTSBURG, KAN. — Marshalls will open a 25,000-square-foot store at Pittsburg Town Center in Pittsburg, a city in Southeast Kansas. Other tenants at the property include Home Depot, Chili’s, Buffalo Wild Wings and UPS. David Block and Phil Peck of Block & Co. Inc. Realtors negotiated the lease transaction on behalf of the undisclosed ownership group. Block & Co. also manages the property.
LAWRENCE, KAN. — Marcus & Millichap has brokered the sale of Lawrence Marketplace in Lawrence for $10.5 million. The 90,982-square-foot retail center is located at 2525 Iowa St. Anchor tenants at the fully occupied property include Planet Fitness and Office Depot. Zach Turner, Scott Wiles, Mark Ruble, Erin Patton, Craig Fuller and Chris Lind of Marcus & Millichap represented the seller, a Kansas-based limited liability company. The team also secured the buyer, a New York-based limited liability company.
PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health Care has completed Phase I of a $6.5 million renovation of The Village at Mission in Prairie Village, a southern suburb of Kansas City. This phase upgraded 26 apartment units and first-floor common living spaces at the rental-based seniors housing property. The residences have been modernized with new lighting, furnishings, cabinetry, flooring and paint. In Phase II, Tutera will add 2,500 square feet for a therapy gym as well as 18,000 square feet for 20 private rehabilitation suites on the first floor and 14 memory care suites on the second floor. Phase II will expand the campus to 93,563 square feet for a continuum of care of assisted living, memory care, rehabilitation and extended stay all on one campus. Phase II is slated for completion in 2023. The project team includes Nearing Staats Prelogar & Jones Architects and Marian Tutera Design. Tutera acquired the property in June 2021.
Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich. Furniture stores have been actively backfilling big boxes, including Bob Mills who took the former Michael’s, and Wichita Furniture, a strong regional player, taking the former 100,000-square-foot Kmart building on West Kellogg/US-54. Discount stores have continued to find a way to open more locations to increase their footprints in the market, both new construction and conversion of former retail spaces. Ollie’s Bargain Outlet opened its west store at Central and Ridge roads, and is also opening a store at Brittany Center. Quick-service restaurants (QSRs) have been active, including two new locations opening in 2022 for Dunkin’ and several new Dutch Bros Coffee locations as they enter the market as well in late 2022 and 2023. Tropical Smoothie Café opened a location last year and Smoothie King …
OVERLAND PARK, KAN. — Sentinel Real Estate Corp. has acquired Lexington Farms Apartments in the Kansas City suburb of Overland Park. The 404-unit, garden-style apartment complex was originally constructed in 1997. Units average 972 square feet. Two-thirds of the units were recently updated, and Sentinel intends to renovate the remaining units. Amenities include a lounge area, coffee bar, two pools, tennis court, fitness center, dog park and barbecue area. The seller and sales price were not provided.
OVERLAND PARK, KAN. — JVM Realty Corp. has acquired The Vue, a 219-unit luxury apartment complex in the Kansas City suburb of Overland Park. Hunt Midwest sold the asset for an undisclosed price. Units at The Vue, located at 7201 W. 80th St., average 936 square feet. Completed in 2018, the six-story property includes 7,300 square feet of ground-floor retail space that is leased to tenants such as Parisi Coffee and Evolve Juicery & Kitchen. Amenities include a sundeck, fitness center, clubhouse, outdoor lounge and pet spa.