TOPEKA, KAN. — Colliers has brokered the acquisition of an industrial building located at 3740 SE South Park Ave. in Topeka. Harvesters – The Community Food Network purchased the property from Lindemuth Inc. for an undisclosed price. Allison Vance Moore and Kirsten Flory of Colliers represented the buyer in the transaction. The seller was not represented.
WICHITA, KAN. — Value Place, a value extended stay hotel brand, has changed its name to WoodSpring Suites, effective immediately. In addition, the Wichita-based company is developing a brand extension with a more enhanced offering, WoodSpring Suites Signature, designed to appeal to less price sensitive guests. “Our new brand strategy will foster our ability to further expand our network, gain access to new markets and customer segments, and further drive RevPAR growth for our company owned hotels and development partners,” says Bruce Haase, CEO of the brand. “Leveraging our highly profitable operating model and history of product innovation, we believe that our rebranding strategy will be the catalyst to take the company to the next level of growth and profitability. We are building from a strong foundation.”
LAWRENCE, KAN., AND CONWAY, ARK. — Colliers International Student Housing Group has arranged the sales of three major student-housing communities in Kansas and Arkansas. In two of the deals, Collegium Capital Partners LLC, an affiliate of Calidus Realty LLC, acquired The Grove at Lawrence in Kansas and The Grove at Conway. The properties which were previously owned by a joint venture between Campus Crest Communities and Harrison Street Real Estate Capital LLC. The Grove at Lawrence is a 500-bed, 172-unit property located approximately five miles from the University of Kansas. The Grove at Conway is a 504-bed, 180-unit property located a few miles from the University of Central Arkansas. The third sales transaction was for a 792-bed, 216-unit student housing community. The details of the transaction were undisclosed. Dorothy Jackman and Travis Prince of Colliers International Student Housing Group represented the seller and the buyer in all three transactions.
OVERLAND PARK, KAN. — NorthMarq Capital’s Kansas City office has arranged acquisition financing of $32.6 million for Corbin Crossing Apartments, a 298-unit multifamily property in Overland Park. The property is located at 6801 W. 138th Terrace. Greg Duvall of NorthMarq arranged the seven-year loan that includes two-year interest-only payments and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.
OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has arranged the $2 million sale of a 2.6-acre pad site at the Corbin Park Shopping Center in Overland Park. The property is located on the southeast corner of 135th and Metcalf Avenue. The land will consist of a new 16,500-square-foot, multitenant building that will include a 6,916-square-foot 810 Zone restaurant, a proposed mattress store and 6,000 square feet of space for lease. Block & Co. Construction Management will begin work on the building next month. David Block and Max Kosoglad of Block & Co. arranged the sale and will handle the leasing of the pad building, which has 6,000 square feet remaining to lease.
OVERLAND PARK, KAN. — Carter Validus Mission Critical REIT II Inc. has acquired the Heartland Rehabilitation Hospital in Overland Park for $24.5 million. The newly built, 45-bed in-patient rehabilitation facility is located on more than four acres and measures approximately 54,568 square feet in net rentable area. The facility will provide physical, psychological, social and vocational rehabilitation services to patients. The property is fully leased to Heartland Rehabilitation Hospital LLC, which is a newly formed operating subsidiary of Post-Acute Medical LLC, an owner/operator of eight in-patient rehabilitation facilities and long-term acute care hospitals in Texas and Louisiana. PAM is an affiliate of Vibra Healthcare LLC.
OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has arranged the $8.8 million sale of a 61,657-square-foot retail building in Overland Park to an undisclosed buyer. A Jo-Ann Fabric and Craft Stores anchors the freestanding building, which is located at 11401 Metcalf Ave. The property is situated on more than five acres. The Tile Shop also occupies 18,847 square feet of the building. David M. Block and Bill Maas of Block & Company, Inc., Realtors negotiated the transaction on behalf of the seller, a third party TIC.
OVERLAND PARK, KAN. — Marcus & Millichap has brokered the $15.8 million sale of Regency Square North, a 74,085-square-foot grocery-anchored shopping center in Overland Park. The sales price equates to $214 per square foot. Built between 2001 and 2002 on more than seven acres, Regency Square North is located at 7201-7401 W. 91st St. Regency Square North is anchored by one of two Whole Foods locations currently operating in the Kansas City metropolitan area; a third is built and scheduled to open in March. Garrette Matlock of Marcus & Millichap’s Denver office represented the seller, Regency North Retail LLC, an entity sponsored through AMG National Trust Bank. The buyer, ACF Property Management Inc., represented itself in the transaction. Greg Bates of the firm’s Kansas City office is Marcus & Millichap’s broker of record in Kansas. In addition to Whole Foods, Regency Square North’s tenancy includes Cinzetti’s, a Italian restaurant offering a marketplace-style display kitchen with multiple exhibitor stations, Metcalf Discount Liquors and Hitch Fit Gym. Cinzetti’s and Metcalf Liquors are original tenants with eight years and six years remaining on their leases, respectively. Hitch Fit Gym recently leased 3,783 square feet of space adjacent to Whole Foods.
OVERLAND PARK, KAN. — Marcus & Millichap has arranged the $18.6 million sale of Town Center Apartments, a 156-unit apartment complex in Overland Park located 20 miles southeast of Kansas City. Built in 1997 on nearly 14 acres, the 176,904-square-foot property includes 20 two-story buildings. The complex’s one-, two- and three-bedroom apartments average 1,134 square feet and feature nine-foot ceilings with crown molding, in-unit washers and dryers and fully equipped kitchens. Select units have attached garages. The complex is located at 6233 W. 120th St. Alex Blagojevich of Marcus & Millichap’s Tampa office, David Gaines of the firm’s Chicago downtown office, and Michael Sullivan, Grant Kollman and Brett Meinzer of the firm’s Kansas City office represented the undisclosed seller and buyer.
OVERLAND PARK, KAN. — Mid-America Real Estate Corp. has brokered the sale of Quivira Crossings located in Overland Park. Cincinnati-based Phillips Edison purchased the 111,304-square-foot grocery-anchored center for $14.5 million. Quivira Crossings is located at 135th Street and Quivira Road and features a long-term lease with grocery store Price Chopper. Joe Girardi of Mid-America listed the property on behalf of an investment group advised by Overland Park, Kan.-based Rubenstein Real Estate Co.