Kansas

Airshare to Move Headquarters to Aspiria Campus in Overland Park, Kansas

by Kristin Harlow April 6, 2023

OVERLAND PARK, KAN. — Airshare, a private jet operator, has unveiled plans to move its headquarters from Lenexa to the Aspiria campus in Overland Park. Airshare expects to take occupancy of its new space this summer. The company is more than doubling its square footage and anticipates a 50 percent increase in staff. Occidental Management owns Aspiria, which is the redevelopment of the former Sprint campus. Ryan Schneider of JLL represented Airshare, while Hunter Johnson represented ownership on an internal basis.

April 6, 2023

Acquisitions Kansas Midwest Retail

FunCity Adventure Park Buys Former Sports Authority Building in Wichita

by Kristin Harlow March 31, 2023

WICHITA, KAN. — FunCity Adventure Park has purchased a 52,259-square-foot building formerly home to a Sports Authority store in North Wichita for an undisclosed price. The property is located at 6959 E. 21st St. FunCity, an indoor adventure park operator, maintains 18 locations and several sites under construction across the country. FunCity is actively seeking to acquire or lease vacant retail buildings. By this summer, the company expects to have 25 locations open and operating. Don Mace of KeyPoint Partners advised FunCity on the acquisition in Wichita.

March 31, 2023

Acquisitions Kansas Midwest Missouri Retail

Hanley Investment Group Arranges Sales of 10 Valvoline-Occupied Properties in Kansas, Missouri, for $17.3M

by Kristin Harlow March 28, 2023

KANSAS AND MISSOURI — Hanley Investment Group Real Estate Advisors has arranged the sales of 10 retail properties occupied by Valvoline for a combined $17.3 million. The net-leased buildings sold to 10 separate buyers. Hanley, in association with Kansas City-based Ferguson Properties, represented the seller, an Arizona-based private investor, in nine of the 10 transactions. Hanley, in association with ParaSell Inc., represented a different seller in the 10th transaction for an asset in Kansas City. That seller was a private investor based in Kansas City.

March 28, 2023

Development Kansas Midwest Multifamily

Hunt Midwest, LANE4 Set to Break Ground on 228-Unit Luxury Apartment Complex in Kansas City

by Kristin Harlow March 24, 2023

KANSAS CITY, KAN. — Co-developers Hunt Midwest and LANE4 Property Group are set to break ground later this month on The Hudson, a 228-unit luxury apartment complex in Kansas City’s Rosedale neighborhood. The project will be situated adjacent to The University of Kansas Health System campus at the corner of 36th Street and Rainbow Boulevard. The community will be built in partnership with KU Endowment. The Hudson’s name is a nod to historic Kansas City, where Rainbow Boulevard was once known as Hudson Road until it was renamed in 1919. Amenities will include a hotel-style lobby, fitness center, garage parking, pet-friendly spaces, a business center and fifth-floor clubroom with an outdoor terrace. Demolition of the former Cambridge West apartments on the project site wrapped up last summer. The Hudson is slated for completion in summer 2025. Security Bank provided financing. BRR Architecture is the architect, MW Builders is the general contractor and Olsson is the civil engineer.

March 24, 2023

Acquisitions Industrial Kansas Midwest

MAG Capital Partners Acquires 325,295 SF Kansas Industrial Portfolio Via Sale-Leaseback

by Kristin Harlow March 24, 2023

RUSH CENTER, LA CROSSE AND LIBERAL, KAN. — In a sale-leaseback transaction, MAG Capital Partners LLC has acquired a 325,295-square-foot industrial portfolio in Kansas for an undisclosed price. KBK Industries, a manufacturer of standard and customized fiberglass tanks and steel products, was the seller and will continue to occupy the facilities. The three-property portfolio includes 2537 E. Highway 96 in Rush Center, 1914 Highway 183 in La Crosse and 2201 N. Country Estates Road in Liberal. Jeff Jackson and Reed Hudson of CBRE represented KBK, which is headquartered in Rush Center. Led by Dax Mitchell and Andrew Gi, MAG Capital Partners is a Dallas-based investment firm.

March 24, 2023

Acquisitions Kansas Midwest Retail

Marcus & Millichap Arranges $2.3M Sale of Retail Property in Liberal, Kansas

by Kristin Harlow March 6, 2023

LIBERAL, KAN. — Marcus & Millichap has arranged the $2.3 million sale of a 4,743-square-foot retail property in Liberal, a city in Southwest Kansas. Starbucks and T-Mobile occupy the building, which was constructed in 2022 and is located at 1411 N. Kansas Ave. Alex Van Krevel, Mark Ruble and Chris Lind of Marcus & Millichap represented the buyer, a private 1031 exchange investor. James Litzler of Marcus & Millichap Capital Corp. arranged an acquisition loan, which featured a fixed interest rate of 5.84 percent and a 68 percent loan-to-value ratio.

March 6, 2023

Acquisitions Kansas Midwest Retail

Marcus & Millichap Brokers $5.1M Sale of Walgreens-Occupied Property in Wichita

by Kristin Harlow February 15, 2023

WICHITA, KAN. — Marcus & Millichap has brokered the sale of a 14,820-square-foot retail property occupied by Walgreens in Wichita for $5.1 million. The net-leased building is located at 13534 W. Maple St. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, a limited liability company. Michael Fusco, Michael Kook, Seth Glasser and Steven Siegel of Marcus & Millichap represented the buyer, a New York-based corporation completing a 1031 exchange.

February 15, 2023

Acquisitions Kansas Midwest Northmarq Restaurant Retail

Northmarq Brokers $1.2M Sale-Leaseback of Sonic-Occupied Property in Kansas

by Kristin Harlow February 13, 2023

COLUMBUS, KAN. — Northmarq has brokered the sale-leaseback of a Sonic-occupied restaurant property in Columbus, a city in Southeast Kansas. The sales price was $1.2 million. The 1,127-square-foot building is located at 228 W. Maple St. Matt Lipson of Northmarq represented the Missouri-based seller. Hamman Real Estate represented the buyer, a California-based individual investor.

February 13, 2023

Kansas Loans Michigan Midwest Missouri Multifamily

Maverick Commercial Mortgage Arranges $6.9M Loan for Refinancing of Three Midwest Mobile Home Parks

by Kristin Harlow February 10, 2023

KANSAS, MISSOURI AND MICHIGAN — Maverick Commercial Mortgage has arranged a $6.9 million loan for the refinancing of three mobile home parks in the Midwest. The properties include Green Acres in Emporia, Kan.; Maplewoods in Odessa, Mo.; and Milwood MHC in Kalamazoo, Mich. Park Place Communities owns and manages the portfolio. All three properties are slated to undergo major capital improvement projects. A Midwest debt fund provided the loan.

February 10, 2023

Acquisitions Kansas Midwest Missouri

Grayson Capital Acquires Monument Healthcare Development

by Kristin Harlow January 19, 2023

KANSAS CITY, MO. — Kansas City-based Grayson Capital has acquired Monument Healthcare Development. Financial terms of the transaction were undisclosed. Monument, now a wholly owned subsidiary of Grayson, was previously a wholly owned subsidiary of Nuterra Capital. Monument and Grayson plan to retain their individual identities and clients, but will combine their efforts to expand their offerings in multifamily and healthcare real estate development. Founded in April 2022, Grayson is a development firm specializing in transit-oriented multifamily projects and public-private partnerships. Leawood, Kan.-based Monument was founded in 2005 and builds healthcare facilities across the Midwest and Northeast.

January 19, 2023

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