OLATHE, KAN. — Colliers International has brokered the sale of a 515,132-square-foot industrial building located at 16600 S. Theden St. in Olathe. John Stafford of Colliers brokered the transaction on behalf of the buyer, Himoinsa Power Systems Inc., while Mike Mitchelson of CBRE represented the seller, Lone Elm 515 LLC. The sales price was not disclosed.
LEAWOOD, KAN. — CycleBar has signed a long-term lease for 2,400 square feet in Town Center Plaza in Leawood. The facility, now open, is the indoor cycling fitness studio’s first location in the greater Kansas City area. CycleBar is located at 5053 W. 117th St. Founded in 2004, the indoor cycling franchise offers a variety of cycling classes at over 200 locations nationwide. David M. Block and Max DiCarlo of Block & Co. Inc. Realtors negotiated the lease transaction on behalf of CycleBar.
OVERLAND PARK, KAN. — NorthMarq Capital has arranged a $46.5 million loan for the acquisition of Residences at Prairiefire in Overland Park. The 426-unit multifamily property is located at 5750 W. 137th St. The 10-year loan features a 30-year amortization schedule. NorthMarq arranged the financing through Fannie Mae. The borrower was a joint venture between a local Kansas City-based sponsor and a national private equity real investment manager. The private equity firm invested on behalf of a large municipal retirement fund.
TOPEKA, KAN. — Simmons Pet Foods has signed a 42,960-square-foot industrial lease in the Forbes Industrial Park in Topeka. The building is located at 7215 SW Topeka Blvd. Jerry Fogel of Kessinger/Hunter negotiated the lease transaction. The Arkansas-based pet food manufacturer also maintains an operations plant in Emporia, Kan.
DERBY, KAN. — MedCraft Healthcare Real Estate LLC is developing a $5 million build-to-suit medical facility for Via Christi Clinic in Derby, a suburb of Wichita. The 15,000-square-foot clinic will be located on the northwest corner of Tall Tree Road and Newberry Street. Completion is slated for this fall. The new building will allow Via Christi to expand from four family medicine and pediatric providers to eight, as well as integrate primary care and physical therapy. The clinic’s current location opened 19 years ago at 1720 Osage Road. Eby Construction is the contractor for the project, and Howard + Helmer Architecture is the project architect.
OVERLAND PARK, KAN. — Colliers International has brokered the sale of 101 acres of land in Overland Park. The sales price was not disclosed. The site is located at 167th Street and Antioch Road. John Stafford of Colliers brokered the transaction on behalf of the seller, S.I.K. LLC. John Nolan and Scott Buescher of Price Commercial Realty represented the undisclosed buyer.
OVERLAND PARK, KAN. — Fogelman Properties has acquired Sandstone Creek Apartments in Overland Park for $48.1 million. The 368-unit, Class A luxury apartment community was built in 2000. The community features one-, two- and three-bedroom apartments, with rental rates ranging from $854 to $1,477 per month. The community is currently 93 percent occupied. Fogelman acquired Sandstone Creek in a joint venture with New York-based DRA Advisors.
OVERLAND PARK, KAN. — Midas Hospitality and sister company MC Hotel Construction are building a new Home2 Suites by Hilton in Overland Park. The 123-room hotel will be located at 7121 W. 135th St., which is the former site of a Smokehouse Bar-B-Que restaurant. The 65,000-square-foot hotel will offer suites with fully equipped kitchens, a fitness center, indoor pool and outdoor living area. Construction will begin in June and be completed by May 2018. Midas Hospitality will manage the hotel. The builder is MC Hotel Construction, and the architecture firm is Gray Design. All three companies are based in St. Louis.
KANSAS CITY, KAN. — Capital Electric Construction Co. Inc. has signed a 50,296-square-foot industrial lease to consolidate its regional headquarters in Kansas City. The company currently operates out of the Rivergate Building at 600 Broadway as well as warehouse space on Dodge Street in the Fairfax District. The new location will house all local operations at 627 Adams St., and is expected to open in July. Bob Fagan, Matt Eckert and Joe Orscheln of CBRE represented Capital Electric Construction in the lease transaction. Paul Neal of Grindstone Properties represented the landlord, Prime Investments. Capital Electric Construction is a wholly owned subsidiary of MDU Construction Services Group Inc. in North Dakota.
LEAWOOD, KAN. — AMC Theatres has expanded its headquarters within Park Place Village in Leawood by 36,315 square feet to a total of over 170,000 square feet. The expansion consists of newly constructed Class A office space completed this year. The new space will help accommodate the more than 125 new jobs AMC created after recently acquiring Georgia-based Carmike Cinemas. Approximately 600 associates will work in the Theatre Support Center in Park Place. The mixed-use office and retail property is comprised of 10 buildings that were developed in phases starting in 2007 and completed in 2013. The property, located at 1150 Ash St., is currently 99 percent leased. Bob Fagan and Matt Eckert of CBRE represented the landlord, KBS, in the transaction.
