Kansas

Berkadia Arranges $15.2M Acquisition Loan for Multifamily Property in Kansas City, Kansas

by Kristin Harlow June 30, 2017

KANSAS CITY, KAN. — Berkadia has arranged a $15.2 million loan for the acquisition of SouthRidge Apartments in Kansas City. The multifamily property is located at 1100 County Line Road and includes a mix of one-, two- and three-bedroom units. Community amenities include a fitness center, two swimming pools, covered parking and gated access. The 10-year Fannie Mae loan features a 30-year amortization schedule. John Schorgl of Berkadia arranged the loan. Kansas City-based Worcester Investments was the borrower.

June 30, 2017

Hospitality Kansas Midwest

Marcus & Millichap Brokers Sale of 130-Room Hotel in Wichita, Kansas

by Kristin Harlow June 27, 2017

WICHITA, KAN. — Marcus & Millichap has brokered the sale of Best Western Airport Inn & Conference Center in Wichita for an undisclosed price. The 130-room hotel is located at 6815 W. Kellogg Drive near the Dwight D. Eisenhower National Airport. Steve Swenholt, Allan Miller, Chris Gomes and Greg Bates of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a limited liability company.

June 27, 2017

Industrial Kansas Midwest

Copaken Brooks Arranges $4M Sale of Industrial Flex Building in Lenexa, Kansas

by Kristin Harlow June 13, 2017

LENEXA, KAN. — Copaken Brooks has arranged the sale of a 37,585-square-foot industrial flex building in Lenexa for $4 million. The property is located at 10749 West 84th Terrace in the Pine Ridge Business Park. The building was renovated to a half-office and half-warehouse layout in 2005. John D. Coe of Copaken Brooks arranged the sale on behalf of the seller, Peavey Properties. Easterly Government Properties Inc. purchased the building.

June 13, 2017

Kansas Midwest Restaurant Retail

Marcus & Millichap Arranges $1.6M Sale of Chick-fil-A Ground Lease in Salina, Kansas

by Kristin Harlow June 12, 2017

SALINA, KAN. — Marcus & Millichap has arranged the sale of a Chick-fil-A ground lease in Salina, located in central Kansas, for $1.6 million. The 3,000-square-foot property is located at 2245 S. 9th St. The Chick-fil-A was newly constructed in 2016 and features a 15-year ground lease. Craig Fuller, Scott Wiles and Erin E. Patton of Marcus & Millichap marketed the property on behalf of the seller, a New York-based private fund. Adam O’Sullivan, Nathan D. Whalen, Damien Yoder and Jeremie Johnson, also of Marcus & Millichap, represented the buyer. Greg Bates, broker of record in Kansas City, assisted in closing the transaction.

June 12, 2017

Kansas Market Reports Midwest Midwest Market Reports Retail

A Growing Number of National Retailers Have Wichita on Their Radar Screen

by Kristin Harlow June 1, 2017

The pace of retail construction remains brisk in Wichita with national retailers showing an increased interest in the market. In the first quarter, developers started construction on nine buildings totaling 112,961 square feet, reports brokerage firm NAI Martens. Completions during the first quarter totaled 117,300 square feet. Notable store openings included Sprouts Farmers Market at Central Avenue and Rock Road; Save-A-Lot grocery store at 1640 S. Broadway; Cavender’s western wear store in Greenwich Place at K-96 and Greenwich Road; Andy’s Frozen Custard at NewMarket Square along 21st Street; and a freestanding Starbucks at Wichita State University on the school’s innovation campus. In short, developers in Wichita appear to be making up for lost time. As a result of the Great Recession, the local economy shed 30,000 jobs between 2009 and 2011, many of them related to the aviation industry, according to the Wichita Metro Chamber of Commerce. Commercial real estate activity ground to a halt at that point. “Between 2008 and 2012 and maybe into 2014, we just didn’t have much development at all. There were some plans on the drawing boards, but nothing really reached fruition,” recalls Thomas Johnson, president of NAI Martens. But consumer confidence gradually began to …

June 1, 2017

Industrial Kansas Midwest

UPS, NorthPoint to Develop 197,000 SF Distribution Center in Edgerton, Kansas

by Kristin Harlow May 26, 2017

EDGERTON, KAN. — United Parcel Service Inc., in collaboration with NorthPoint Development, is developing a 197,000-square-foot distribution center in Logistic Park Kansas City (LPKC) in Edgerton. The facility will include a UPS Customer Center and will dispatch trucks for routes in the area. Missouri-based NorthPoint is the real estate developer for LPKC, a 1,700-acre distribution hub now containing over 10 million square feet of warehouse and distribution space. The new UPS operation will be located on the west side of LPKC at 19400 Essex St. The location is less than a mile from the BNSF intermodal facility and is accessible to I-35 via Homestead Lane.

May 26, 2017

Kansas Loans Midwest Multifamily

KeyBank Arranges $19M Refinancing of Multifamily Property in Overland Park, Kansas

by Kristin Harlow May 23, 2017

OVERLAND PARK, KAN. — KeyBank Real Estate Capital has arranged a $19 million Fannie Mae loan for the refinancing of Plaza at Overland Park in Kansas. The 202-unit multifamily property was built in 1999 and renovated in 2014. Chris Black of KeyBank arranged the 10-year loan, which includes a 30-year amortization schedule. The borrower was not disclosed.

May 23, 2017

Industrial Kansas Midwest

Copaken Brooks Begins Development of 500,000 SF Industrial Property in Edgerton, Kansas

by Kristin Harlow May 8, 2017

EDGERTON, KAN. — Copaken Brooks has begun development of Midwest Gateway, a 500,000-square-foot industrial property near the BNSF intermodal facility in Edgerton. The property will include two speculative buildings of 301,603 square feet and 186,107 square feet. The project is designed to meet the needs of warehouse, distribution and manufacturing users of smaller footprints. The buildings will feature 32-foot clear heights, motion sensor lighting, docks, truck parking and trailer storage. Construction is slated for completion in February 2018. Midwest Gateway is the closest development site to the BNSF intermodal, according to a press release. Bucky Brooks of Copaken Brooks, along with Nathan Anderson and Russel Pearson of NAI Heartland, are marketing the property for lease. Project team members include GMA Architects, ARCO National Construction, Shafer, Kline & Warren, Krudwig & Associates and Metro Air.

May 8, 2017

Kansas Midwest Retail

Lane4 Begins Demolition of Former Metcalf South Mall Near Kansas City

by Kristin Harlow April 24, 2017

OVERLAND PARK, KAN. — Lane4 Property Group has begun the demolition of the vacant Metcalf South Mall in Overland Park. The mall, which opened in 1967, officially closed to the public in September 2014. Early phases of demolition will occur on the interior of the building, making visible demolition on the exterior not likely until next month. The mall is located at located at the southeast corner of 95th Street and Metcalf Avenue. Once the mall has been razed, site work will begin to level the land and construct frontage roads. Construction of a Lowe’s store is scheduled slated to begin this fall. The overall project plan also includes a number of smaller-format retail buildings and restaurants, but potential tenants have yet to be announced. Lane4 worked with both the Overland Park Historical Society and the Johnson County Museum to preserve items of historical significance from within the mall. Lane4 and The Kroenke Group jointly purchased the Metcalf South Mall site in 2014.

April 24, 2017

Healthcare Iowa Kansas Midwest Missouri Multifamily Nebraska Seniors Housing

Blueprint Brokers $82M Sale of 18 Skilled Nursing Facilities in the Midwest

by Kristin Harlow April 7, 2017

CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has negotiated the sale of 18 skilled nursing facilities located throughout the Midwest for $82 million. The portfolio included nine properties in Kansas, six in Missouri, two in Iowa and one in Nebraska. The specific names and locations of the properties were not disclosed. The regional portfolio comprises 1,843 total licensed beds and generated approximately $110 million in revenue on a trailing basis at the time of sale. Most of the facilities are situated in suburban neighborhoods, while several of the centers were in secondary markets within driving distance from Kansas City. The seller, a publicly traded owner-operator, was looking to exit the Midwest region to create a tighter geographic density for its properties, as well as focus on hospital partnerships. The buyer is Illinois-based Cascade Capital Group, which went through several rounds of bidding. The sale includes an undisclosed level of HUD mortgage debt and two leased assets. The sales price equates to $45,000 per bed. Ben Firestone, Christopher Hyldahl and Michael Segal of Blueprint structured the transaction.

April 7, 2017

Newer Posts

Older Posts