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AcquisitionsKansasMidwestMultifamilyStudent Housing

Pebb Capital Sells 647-Bed Student Housing Community Near the University of Kansas

by Kristin Harlow

LAWRENCE, KAN. — Pebb Capital has sold The Rockland, a 647-bed student housing community serving students at the University of Kansas in Lawrence. The community offers one- and two-bedroom units. Shared amenities include a resort-style pool and hot tub; a 24-hour business center and fitness center; a common room with a gaming station and pool table; tanning facilities; an outdoor barbecue area with a fire pit; a coffee bar; indoor and outdoor basketball courts; and a dog park. NB Private Capital acquired the property for an undisclosed price. Kevin Larimer and Greg Gonzalez of Berkadia arranged the sale. Berkadia’s Ed Kim and Jie Lee also arranged acquisition financing on behalf of buyer.

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KansasLeasing ActivityMidwestOffice

DashNow Opens 5,407 SF Office at City Center Lenexa in Kansas

by Kristin Harlow

LENEXA, KAN. — DashNow has opened a 5,407-square-foot office at The District at City Center Lenexa in Kansas. The company has leased an entire floor of the office building known as Penn I. DashNow offers an app that enables restaurant customers to pay their bills at the table through their smartphones. The app improves efficiency for restaurants and servers. Todd Weltmer of Parkway Realty represented DashNow in the lease transaction. Ryan Biery of Copaken Brooks represented the landlord, Copaken Brooks. When fully developed, City Center Lenexa will span more than 2 million square feet with office, retail and residential space.

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AcquisitionsKansasMidwestRetail

WS Development, Laham Development Acquire Bradley Fair Shopping Center in Wichita, Kansas

by Kristin Harlow

WICHITA, KAN. — WS Development has formed a joint venture with Laham Development to acquire Bradley Fair in Wichita. The purchase price was not disclosed. Built in 1990, the 280,000-square-foot shopping center is home to more than 50 stores and restaurants, including Barnes & Noble, Sephora, Pottery Barn, Gap and soon-to-open Trader Joe’s. The property also features a lake, walking paths, gardens and community events. The seller was not disclosed.

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AcquisitionsHealthcareKansasMidwest

VanTrust Sells 76,332 SF Medical Office Building in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — VanTrust Real Estate LLC has sold a 76,332-square-foot medical office building in Overland Park for an undisclosed price. The Class A property is located at 6650 W. 110th St. VanTrust developed the property in 2017. It is currently 92 percent occupied. Keith Baker of CBRE represented the buyer, Griffin-American Healthcare REIT IV Inc., a non-traded real estate investment trust. After the sale, CBRE was awarded leasing and property management assignments. Baker will handle leasing while Stacy Oldham will oversee management. As of June 30, Griffin-American Healthcare REIT IV’s portfolio totaled 4.1 million square feet in 24 states.

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DevelopmentHospitalityKansasMidwest

TGC Group to Build 95-Room Hotel in Wichita’s Delano District

by Kristin Harlow

WICHITA, KAN. — TGC Group plans to break ground this fall on a 95-room Home2 Suites hotel in Wichita’s Delano District. TGC Hospitality Management will manage the hotel, located at 200 N. Sycamore St. The four-story development is slated for completion in winter 2020. All suites will feature separate living and bedroom space. The pet-friendly hotel will include complimentary breakfast and WiFi.

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AcquisitionsKansasMidwestMultifamily

NorthMarq Arranges Sale of 170-Unit Multifamily Portfolio in Lawrence, Kansas

by Kristin Harlow

LAWRENCE, KAN. — NorthMarq has arranged the sale of a 170-unit multifamily portfolio in Lawrence for an undisclosed price. The rental properties include Camson Place, Camson Villas and Camson Townhomes. Jeff Lamott of NorthMarq represented the buyer, Orozco Capital Trust, which completed a 1031 tax-deferred exchange and sold a Topeka portfolio. Kyle Tucker and John Duvall of NorthMarq arranged an undisclosed amount of acquisition financing through Fannie Mae. Wilhm Real Estate represented the seller of the Camson portfolio.

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AcquisitionsCivicKansasMidwest

Easterly Government Properties Acquires EPA Regional Headquarters in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Easterly Government Properties Inc., a publicly traded real estate investment trust, has acquired a 169,585-square-foot Environmental Protection Agency (EPA) regional headquarters in Lenexa. Originally constructed in 2007, the two-story office building is situated on a 30.5-acre parcel. The EPA completed a renovation of the property in 2012. While headquartered in Washington, D.C., the EPA also operates 10 regional offices throughout the country.

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DevelopmentKansasMidwestRetail

Academy Bank Opens New Retail Banking Center in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Academy Bank, a full-service community bank and wholly owned subsidiary of Dickinson Financial Corp., has opened a new retail banking center in Overland Park. The new branch spans 2,356 square feet and is located at 6976 W. 135th St. It is Academy Bank’s second branch in Overland Park. In addition to ATM and mobile services, the location features interactive teller machine video banking. By the end of the year, the Overland Park branch will also feature Academy Express, a drive-thru video banking service that connects to a live banker seven days a week. Academy Bank also operates centers in Fairway, Lenexa, Olathe and Shawnee.

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DevelopmentKansasMidwestOffice

VanTrust to Develop Third Building at Hallbrook Office Center in Leawood, Kansas

by Kristin Harlow

LEAWOOD, KAN. — VanTrust Real Estate LLC, in partnership with Hallbrook Office Center LLC, has unveiled plans to develop a new 120,527-square-foot office building at Hallbrook Office Center in Leawood. This is the third building planned for the office park. Miles McCune and Jeff Winters of Cushman & Wakefield will market the building for lease. The new structure will sit on eight acres at College Boulevard and State Line Road. While the first two buildings at Hallbrook were built on a speculative basis, the project team does not plan to begin construction on the third building until commitments for at least one floor of the property (30,000 square feet) are secured.

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DevelopmentIndustrialKansasMidwest

Kubota to Open North American Distribution Center in Edgerton, Kansas

by Kristin Harlow

EDGERTON, KAN. — Kubota Tractor Corp. will host a grand opening ceremony for its new North American distribution center in Edgerton on Wednesday, Aug. 21. Joining Kubota executives will be Kansas Gov. Laura Kelly and other state and local officials. Set on 200 acres of land, the new campus includes two 1 million-square-foot buildings. The property will serve as a logistics hub for Kubota’s North American operations and home to the company’s Midwest sales division office. Kubota is based in Grapevine, Texas.

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