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AcquisitionsKansasMidwestMultifamily

Marcus & Millichap Brokers Sale of 225-Unit Apartment Complex Near Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. — Marcus & Millichap has brokered the sale of Carson Street Towers, a 225-unit apartment complex in the Kansas City suburb of Overland Park. The sales price was undisclosed. Built in 2020, the property sits on just over two acres. Amenities include a fitness center, pool and covered parking. Jason Hornik, Greg Parker, Ryan Bowlby, Greg Price and Drew Isaac of Marcus & Millichap represented the seller, a private investor. The brokerage team also procured the buyer, Continental Realty Group.

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AcquisitionsIndustrialKansasMidwest

Sealy & Co. Acquires 1.3 MSF Industrial Portfolio in Suburban Wichita

by Kristin Harlow

PARK CITY, KAN. — Sealy & Co. has acquired a 1.3 million-square-foot industrial portfolio in Park City, a suburb just north of Wichita. The purchase price was undisclosed. The portfolio consists of four fully occupied distribution centers along North Air Capitol and North Hayes drives. All four of the Class A buildings have been constructed within the last six years. Whitney Kerr of Cushman & Wakefield represented the seller, Murdock Properties LLC. Sealy’s Jason Gandy and Davis Gibbs led the acquisition on behalf of Sealy.

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VA-Chattanooga
AlabamaArizonaDistrict of ColumbiaFloridaGeorgiaHealthcareKansasMidwestSoutheastTennesseeTexasTop StoriesWestern

Easterly Government Properties to Acquire 10-Property VA Portfolio for $635.6M

by Katie Sloan

WASHINGTON, D.C. — Easterly Government Properties Inc. (NYSE: DEA) has entered into an agreement to acquire a 1.2 million-square-foot, 10-property portfolio of facilities leased to the Department of Veterans Affairs (VA) for $635.6 million.  The properties will be purchased in a joint venture with an undisclosed global investor, with Easterly retaining a 53 percent stake in the portfolio. Two of the properties are open, while the other eight are currently under construction. Acquisitions include:  VA Chattanooga, a 94,566-square-foot Class A facility in Tennessee that was completed in November 2020. The property offers audiology, imaging, pathology, lab, dental and mental health services.  VA Lubbock, a 120,916-square-foot facility in Texas completed in December 2020. The facility is located on the Texas Tech medical campus and features an ambulatory surgery center as well as general health, dental, audiology, ophthalmology, MRI, radiology, pharmacy, lab, physical therapy and mental health services. VA Lenexa, a 31,062-square-foot facility in Lenexa, Kan., that was delivered in May 2021. The property offers primary and specialty care, including audiology, dental, pathology and lab services, as well as radiology.  VA San Antonio, a 226,148-square-foot development currently underway in Texas. The three-story facility will feature six patient aligned care team (PACT) modules …

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AcquisitionsKansasMidwestRestaurantRetail

Quantum Arranges $2.5M Sale of Wendy’s-Occupied Property in Salina, Kansas

by Kristin Harlow

SALINA, KAN. — Quantum Real Estate Advisors Inc. has arranged the $2.5 million sale of a single-tenant retail property net leased to Wendy’s in the central Kansas town of Salina. The 2,967-square-foot building is located at 1940 S. Ohio St. Jason Caplan of Quantum represented the Chicago-based buyer. Matthew Mousavi of SRS Real Estate represented the seller, a real estate investment and operating company based in California.

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DevelopmentIndustrialKansasMidwest

Contegra Construction Completes Two Distribution Centers Totaling 919,080 SF in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — Contegra Construction Co. has completed two additional industrial buildings at NorthPoint Development’s Turner Logistics Center in Kansas City. The two distribution centers total 919,080 square feet. Building II spans 543,544 square feet and features 54 dock doors, four drive-in ramps, 284 car parking stalls and 137 trailer stalls. Building III totals 375,536 square feet and offers 37 dock doors, two drive-in ramps and 371 parking spaces. Both buildings feature clear heights of 36 feet. The 250-acre industrial park is now home to three buildings, the first of which totals 408,000 square feet.

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KansasLoansMidwestMultifamily

BMC Capital Arranges $57M Loan for Refinancing of Apartment Community in Suburban Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. — BMC Capital has arranged a $57 million loan for the refinancing of Promontory Apartments in Overland Park. The 291-unit, four-story apartment community was built in 2018. Noah Laredo and Clark Finney of BMC’s Dallas office arranged the Freddie Mac loan through Community Preservation Corp. The loan features a fixed interest rate of 2.8 percent for 10 years, a 30-year amortization schedule and five years of interest-only payments. Launch Development was the borrower.

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AcquisitionsKansasMidwestOffice

LANE4 Purchases 83,000 SF Office Building in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — A group of private investors led by LANE4 Property Group has purchased an 83,000-square-foot office building in Overland Park for an undisclosed price. Located at 4551 W. 107th St., the three-story property is fully leased. Allied National Inc., a third-party administrator in the health insurance and benefits industry, occupies the majority of the building. Kessinger Hunter represented the undisclosed seller in the transaction.

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AcquisitionsIndustrialKansasMidwest

NAI Martens Arranges $8.6M Sale of Four Airport Hangars in Wichita

by Kristin Harlow

WICHITA, KAN. — NAI Martens has arranged the sale of four airport hangars at Wichita’s Dwight D. Eisenhower National Airport for $8.6 million. The transaction involved 96,536 square feet across the four hangars, which all include private office space. Steven Martens and Grant Glasgow of NAI Martens represented the undisclosed seller and procured two separate buyers.

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KansasLeasing ActivityMidwestOffice

TreviPay Signs 73,000 SF Office Lease at Aspiria in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Global business-to-business payments company TreviPay has signed a 73,000-square-foot lease to relocate its corporate headquarters to Aspiria in Overland Park. TreviPay says the new office will enable its more than 400 Kansas City-area employees to be in one location. The company, which expects to begin occupying its new space in October, is moving from 8650 College Blvd. in Overland Park. Occidental Management owns Aspiria, which is the redevelopment of the former Sprint campus. Aspiria features walking and biking trails, a 68,000-square-foot fitness center, green spaces, three conference centers, coffee shops and a cafeteria. Occidental plans to develop an additional 60 acres surrounding the campus at the corner of 119th Street and Nall Avenue. Plans call for an additional 1 million square feet of Class A office space, 380,000 square feet of retail and restaurant space, a 120-room hotel and 600 multifamily units. Design planning on the long-term project is underway.

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DevelopmentIndustrialKansasMidwestSelf-Storage

Hunt Midwest Builds Fifth Self-Storage Facility in Metro Kansas City

by Kristin Harlow

LENEXA, KAN. — Hunt Midwest has completed its fifth StorTropolis self-storage facility in the Kansas City area. The 110,670-square-foot facility is located in Lenexa and includes 760 climate-controlled units. Situated at 19585 W. 102nd St., the three-story property features drive-thru access to fully enclosed loading areas and elevators. The largest units can accommodate RV storage. Strickland Construction, a Kansas City-based construction company specializing in storage complexes, served as general contractor. Storage Asset Management, a privately owned, third-party management company specializing in self-storage, operates the facility. Hunt Midwest launched its StorTropolis brand in 2018.

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