Kansas

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

by Katie Sloan October 14, 2021

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 …

October 14, 2021

Acquisitions Kansas Midwest Restaurant Retail

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

by Kristin Harlow October 12, 2021

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.

October 12, 2021

Development Industrial Kansas Midwest

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

by Kristin Harlow October 8, 2021

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.

October 8, 2021

Kansas Loans Midwest Multifamily

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

by Kristin Harlow October 4, 2021

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.

October 4, 2021

Acquisitions Kansas Midwest Office

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

by Kristin Harlow September 16, 2021

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.

September 16, 2021

Acquisitions Industrial Kansas Midwest

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

by Kristin Harlow September 13, 2021

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.

September 13, 2021

Kansas Leasing Activity Midwest Office

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

by Kristin Harlow September 8, 2021

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.

September 8, 2021

Development Industrial Kansas Midwest Self-Storage

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

by Kristin Harlow September 8, 2021

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.

September 8, 2021

Acquisitions Industrial Kansas Midwest

Taurus Acquires 20-Building Kansas City Industrial Portfolio for $55.2M

by Kristin Harlow August 17, 2021

KANSAS CITY, KAN. — Taurus Investment Holdings LLC, a global private equity real estate firm, has acquired a light industrial portfolio in Kansas City for $55.2 million. Comprised of 20 buildings and more than 715,000 square feet, the portfolio will expand Taurus’ industrial platform to encompass 196 buildings totaling over 13 million square feet. Seller information and specific properties were not disclosed.

August 17, 2021

Affordable Housing Development Kansas Midwest Multifamily

Annex Group to Build $43M Affordable Housing Project in Lawrence, Kansas

by Kristin Harlow August 12, 2021

LAWRENCE, KAN. — The Annex Group has unveiled plans to develop Union at the Loop, a $43 million affordable housing project in Lawrence, about midway between Topeka and Kansas City. Located at 3250 Michigan St., the project will include 248 units for renters earning up to 60 percent of the area median income. In Lawrence, that translates to an income up to $57,300. Amenities will include a community room, exercise room, playground and computer room. The development will be within walking distance of public transportation, grocery stores and restaurants. Completion is slated for October 2022. Partners on the project include Hayes Gibson Property Services, Wallace Architects LLC, Summit LIHTC Consulting and Crocket Engineering. Kansas Housing Resources Corp. provided a 4 percent tax credit allocation alongside a tax-exempt bond issuance by Kansas Development Finance Authority. Merchants Capital provided a $35 million construction loan. Aegon Real Assets provided $16.7 million in tax credit equity.

August 12, 2021

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