KANSAS CITY, MO. — The Kansas City Aviation Department has selected Airside Innovation Missouri LLC, a joint venture between Kansas City natives Kyle Eiserer of Airside FBO and Erik Murray of Eastside Innovation, to develop the last 20 acres of available land at the Kansas City Downtown Airport – Wheeler Field. The $55 million development will include a new fixed base operation (FBO) led by Kansas City-based Apex Aero Center with a 15,000-square-foot terminal building and more than 150,000 square feet of new hangar, office and shop space designed to serve business, government and general aviation users. FBOs are often the first point of contact for visitors arriving by air. Known as Project Lima, the development was selected through a request for proposals process and received unanimous approval from the Kansas City Council in September. The developers executed a long-term lease on the property last month. The project will also include the expansion of Red Tail Academy, a Kansas City-based nonprofit focused on educating and mentoring underrepresented youth in aviation. The broader project team includes Crossroads Real Estate Group, WSKF Architects, TREKK Design Group, Bob D Campbell & Co., FSC Inc., LM2 Construction, McCownGordon Construction and AvAirPros. Completion is slated …
LEE’S SUMMIT, MO. — Block & Co. Inc. Realtors has purchased Summit Fair, a lifestyle center in the Kansas City suburb of Lee’s Summit. Totaling roughly 510,000 square feet, the property is approximately 90 percent leased. Tenants include Dick’s Sporting Goods, H&M, Lululemon, Made in KC Marketplace, Craft Putt, Orangetheory, Pure Barre, Chick-fil-A, DSW, McAlister’s Deli, JC Penney and Missouri Furniture Mart. Sephora and LoveSac are slated to open soon at the center. Block & Co. intends to introduce community-focused events and expand the tenant mix at Summit Fair. The company now leases and manages 10 multi-tenant centers in Lee’s Summit. Zachary Albrecht and David Block of Block & Co. represented the buyers, a group of local investors including Block and Doug Compton of Lawrence, Kan. The seller was Arizona-based Red Development. With this sale, Red has exited the Kansas City market.
OSAGE BEACH, MO. — X Caliber Capital Holdings LLC has structured a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of the Oasis at Lakeport in Osage Beach. The resort and entertainment project has a total cost of $495 million. Plans call for a Marriott hotel with 402 rooms, a conference center, indoor waterpark, amusement park and various amenities. The $285 million financing consists of $220 million of conventional senior-secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC LLC, and $65 million of Commercial Property Assessed Clean Energy (C-PACE) financing through CastleGreen Finance. The financing marks X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. Rural PACE-X is a proprietary financing solution that provides high-leverage financing for ground-up construction projects in micro-rural areas. The C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance, according to X-Caliber. Gregg Delany, Ken Lorman and Gabe Mashaal of X-Caliber Advisors originated and structured the financing on behalf of Tegethoff Development Co. The project’s energy-efficiency design is estimated to save around $11 million in costs over the lifetime of the improvements. The Oasis at Lakeport is expected to …
By David Goldfisher, The Henley Group Secondary and tertiary office markets across the Midwest, including Chicago, Minneapolis, Madison, Milwaukee, Cleveland, Cincinnati, Columbus and St. Louis, are facing mounting pressure. While each city has its own challenges, a common theme is clear — vacancies remain high and liquidity is thin. Tenant shuffling One of the defining dynamics today is tenant reshuffling rather than net growth. As leases expire, employers frequently move from one building to another, seeking modernized space and stronger amenities. Renovating in place is disruptive and costly, while relocating allows businesses to upgrade with minimal operational downtime. This “musical chairs” effect highlights a deeper structural issue. There are only so many large anchor tenants in Midwest cities and few new entrants are seeking major blocks of space. There is more repositioning for existing tenants than attracting new ones. Flight to quality Landlords and developers are competing to deliver amenities that encourage office attendance and support talent retention. Modernized lobbies, tenant lounges and flexible collaboration areas have become standard expectations. Hines’ upgrades at Chicago’s 333 West Wacker Drive and 601W Cos.’ reinvestment in the Old Post Office demonstrate the scale of investment required. But not all landlords can compete. With …
COLUMBIA, MO. — Vesper Holdings has acquired The Den, a 522-bed student housing community located near the University of Missouri campus in Columbia. Vesper acquired the property in partnership with an undisclosed institutional investor. Built in 2014, the four-story community offers fully furnished units in two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, fitness center, clubhouse, game room, computer room, dog park, hammock garden, basketball courts, study rooms, fire pits and an outdoor kitchen and grilling area.
KANSAS CITY, MO. — Streats, a local restaurant known for its Mexican street tacos as well as Birria tacos and ramen, has opened at the Skyline Collection in downtown Kansas City. Located at 1111 Main, Streats occupies 1,389 square feet on the ground floor in the former KC Mac and Co. space. The lease marks the restaurant’s second Kansas City location. Streats joins Jason’s Deli, Banksia and Fat Bee at the Skyline Collection. Erin Johnston of Copaken Brooks represented the landlord on an internal basis. The Skyline Collection, which includes the 1111 Main and 1201 Walnut office towers, is nearing full retail occupancy.
BRANSON, MO. — Midas Hospitality and Bryan Properties have opened a 123-room Element Hotel by Westin in Branson. The asset is owned by Bryan Properties and managed by Midas Hospitality. Located at 511 Pat Nash Drive, the hotel is situated near Ballparks of America and the adjacent Branson Theater District. The 73,637-square-foot property offers a fitness center, outdoor saline pool, fire pits and complimentary breakfast.
KANSAS CITY, MO. — Twelfth Street Heritage Development Corp. and Flaherty & Collins Properties have broken ground on the $300 million redevelopment of Parade Park Homes, one of the country’s oldest Black-owned housing cooperatives that is located in Kansas City. Plans call for nearly 1,100 multifamily units, 200 of which will be reserved for low-income families and 80 for seniors housing. Additionally, the project will include 27 acres of open green space and 15,000 square feet of community-centered commercial space. Block & Co. Inc. Realtors will serve as the exclusive retail broker for the project. The restoration will include three phases, with Phase I projected to be finished by 2027. The project marks the largest development in East Kansas City’s history, according to Block & Co.
KANSAS CITY, MO. AND OVERLAND PARK, KAN. — A group of private investors led by LANE4 Property Group has acquired three Kansas City-area shopping centers totaling 421,546 square feet previously owned by MD Management. LANE4 spearheaded the transaction and structured a recapitalization that allowed some of MD’s generational investors to remain in the partnership while other owners were able to exit. The portfolio includes Metro North Square in Kansas City, Oak Barry Center in Kansas City and West Park Shopping Center in Overland Park. The properties have been owned by members of the Morgan and Dreiseszun families since they were developed. Metro North Square totals 188,270 square feet and is 88 percent occupied. It is located on Barry Road, immediately south of the Metro North Mall redevelopment. Prominent tenants include Children’s Mercy, Power Play, The Salvation Army and Spectrum Station. Oak Barry Center spans 136,892 square feet and is 99 percent leased. The grocery-anchored center is located down the road from Metro North Square and is home to Price Chopper, Planet Fitness and Dollar Tree. West Park Shopping Center totals 96,384 square feet and is 98 percent occupied. Anchor tenants include Johnson County Community College, Catholic Charities and Save-a-Lot. Andrew …
By Emily Ackley, NAI DESCO The St. Louis retail market could be perceived as a contrasting story — national headlines continue to spotlight store closures and shifting consumer habits, and yet on the ground, St. Louis is working to write a quite different narrative. Vacancy rates remain tight, redevelopment projects are reshaping corridors and both suburban and urban districts are evolving to meet the demands of today’s consumers. It is not a market without its challenges, but St. Louis retail is far from stagnant. Market conditions As of the second quarter of 2025, the St. Louis retail market experienced a dynamic shift as a result of low vacancy rates, evolving consumer behavior and significant redevelopment projects across the St. Louis MSA. The overall retail vacancy rate stands at 4.7 percent, reflecting a 40-basis-point decrease quarter over quarter and an 80-basis-point decrease year over year, indicating a tightening market. Leasing activity remains robust, particularly in suburban areas of St. Louis, such as West County and St. Charles County, where vacancy rates have decreased by up to 140 basis points in the past year. This is being supported by a combination of steady population growth in the suburbs, shifting migration patterns and …
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