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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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DevelopmentKansasMidwestMissouriMultifamilySeniors Housing

LANE4 Begins Development of Two Senior Living Communities in Metro Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. AND BLUE SPRINGS, MO. — LANE4 Property Group has begun development of two senior living communities in metro Kanas City. Both facilities, expected to open in summer 2020, will be branded as Novel Place. One property will be situated at 95th Street and Metcalf Avenue in Overland Park, while the other will be located at Highway 40 and Highway 7 in Blue Springs. Each location will include 134 independent living units across three stories. Community amenities will include common areas, outdoor courtyards and fitness studios. Omaha-based NewStreet Properties LLC has joined LANE4 as an investment partner on both Novel Place properties. Davidson Architecture + Engineering and Centric General Contractors make up the project team. Academy Bank is providing construction financing for the Blue Springs location, while Security Bank is providing financing for Overland Park. Monthly rental rates are expected to start at $1,800, according to the Shawnee Mission Post.

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AcquisitionsIndustrialKansasMidwest

Jones Development Acquires 311,100 SF Manufacturing Facility in Kansas

by Kristin Harlow

NEW CENTURY, KAN. — Sumner Investment LLC, a local partnership arranged by Jones Development, has acquired a 311,100-square-foot distribution and manufacturing facility in New Century within Johnson County. The purchase price was not disclosed. The building is situated on 17.7 acres in the New Century AirCenter near I-35. The facility features clear heights ranging from 22 to 26 feet, 12,000 square feet of office space, 36 dock doors, six drive-in doors and 95 trailer parking stalls. The property will undergo a capital improvement plan.

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AcquisitionsHospitalityKansasMidwest

Joint Venture Buys 398-Room Marriott Hotel in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — A joint venture between Wexford Lodging Advisors and Trinity Private Equity Group has purchased the 398-room Marriott Kansas City Overland Park. The purchase price was not disclosed. The joint venture plans to invest approximately $17 million to upgrade the hotel’s guest rooms and public spaces. Davidson Hotels and Resorts will operate the hotel. In addition to a renovation of the meeting space and lobby, plans call for the addition of Marriott’s M Club concierge lounge and a new fitness center. Located at 10800 Metcalf Ave., the 11-story hotel is situated on I-435.

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