CHESTERFIELD, MO. — Keystone Construction Co. has completed Hub Stl, a $4 million outdoor entertainment space at The District of St. Louis in Chesterfield. The District is devoted to live music, food and beverage concepts and retail space. Construction on Hub Stl began last fall with the demolition of the Polo Building. Keystone built a performance stage, 70 feet by 21 feet, with a synthetic turf field viewing area with capacity for 400 people. A large LED screen and sound and lighting system will be installed later this summer. The performance area will be encircled by local restaurants with patios, a brewery and beer garden. Anticipated to open later this summer is 4 Hands Brewing Co., which will occupy the anchor space with a 10,000-square-foot taproom. Hi-Pointe Drive-In, the brewery’s culinary partner, will operate a fast-casual dining concept within the space. Keystone previously built two other destinations within The District — Main Event and The Factory. Main Event is a 50,000-square-foot indoor entertainment center with 22 lanes of bowling, laser tag, gravity ropes and hundreds of arcade and virtual reality games. The Factory is a 52,000-square-foot indoor concert venue with seating for up to 3,400 people. It was the first …
Avanti Residential Acquires Summit Square Apartment Community in Metro Kansas City for $80M
LEE’S SUMMIT, MO. — Avanti Residential has acquired the 308-unit Summit Square apartment community in the Kansas City suburb of Lee’s Summit for $80 million. Avanti now owns eight apartment properties in the greater Kansas City market. Built in 2018, Summit Square is located at 789 NW Donovan Road. Mac Crowther and Whittaker Potts of Newmark represented the seller, NorthPoint Development. Avanti owns and operates more than 8,000 apartment units in Colorado, Arizona, Utah, Florida and metro Kansas City.
McCarthy Breaks Ground on USDA Food Safety, Inspection Service Lab in Normandy, Missouri
NORMANDY, MO. — McCarthy Building Cos. has broken ground on the new home of the USDA’s Food Safety and Inspection Service Midwestern Laboratory in Normandy, a northwest suburb of St. Louis. The state-of-the-art, 83,000-square-foot facility will support science and technology to address present and future public health challenges. The project will consist of two loading docks for shipping and receiving, a large warehouse for field operations storage, a processing center, microbiology labs, chemistry labs and administrative offices. The General Services Administration signed a lease with US Federal Properties for a term of 20 years and a total contract value of $115.5 million. Site and civil work are expected to be completed in the fall, with building construction occurring in 2024 and 2025. Hoefer Welker is the designer. The Food Safety and Inspection Service’s roughly 60 employees at its St. Louis-based laboratory are expected to move to the new facility in mid-2025.
National Association of Insurance Commissioners Renews Office Lease in Kansas City, Plans to Renovate Space
KANSAS CITY, MO. — The National Association of Insurance Commissioners (NAIC) has renewed its office lease at Eleven Eleven Main in Kansas City. The tenant plans to renovate its space, which totals about 109,000 rentable square feet across the fourth floor and floors eight through 11. Owner Copaken Brooks is involved in the property and construction management for the renovation project. Ryan Biery of Copaken Brooks represented ownership alongside CBRE’s Rollie Fors and Brice Shamberger. Sven Sykes, Tom Volini and Bryan Johnson of Colliers represented NAIC.
IAS Partners Begins Development of 15,000 SF Retail Building at Metro North Crossing in Kansas City
KANSAS CITY, MO. — Locally based IAS Partners has begun development of a 15,000-square-foot, multi-tenant retail and restaurant building at Metro North Crossing, a mixed-use project in Kansas City. The facility is located along Highway 169 adjacent to the newly opened Hawaiian Bros Island Grill and Whataburger. Construction of the shell building is slated for December, with tenants expected to open in spring 2024. The building is located alongside Woodstone, a $60 million luxury apartment complex with 249 apartment and townhome-style units that opened in fall 2022. Metro North Crossing is also home to T-Shotz, a 52,000-square-foot golf entertainment venue.
Marcus & Millichap Arranges $5M Sale of Multifamily Property in Wentzville, Missouri
WENTZVILLE, MO. — Marcus & Millichap has arranged the $5 million sale of Heritage Townhomes, a 40-unit multifamily property in the western St. Louis suburb of Wentzville. The seller, a private investor, acquired the property in October 2019 and installed new flooring, kitchen appliances and upgrades to the bathrooms. The improvements resulted in a $200 per unit average increase in value over three years, according to Marcus & Millichap’s Ben Margalski, one of the brokers on the transaction. Margalski and colleague Aaron Kuroiwa represented the seller as well as the buyer, a private investor completing a 1031 exchange.
Mia Rose Holdings, Keystone Construction Complete 97,000 SF Chesterfield Sports Complex Near St. Louis
CHESTERFIELD, MO. — Developer Mia Rose Holdings and general contractor Keystone Construction Co. have completed Chesterfield Sports Complex, a 97,000-square-foot indoor volleyball and basketball complex in the St. Louis suburb of Chesterfield. The complex will serve local, regional and premier basketball, volleyball and other sporting events. Nonprofit organization Chesterfield Sports Association owns and operates the facility, which is anticipated to attract 900,000 visitors each year with 1,000 youth athletes practicing each week and 2,500 athletes playing tournaments on the weekends. The facility features nine basketball courts that convert into 18 volleyball courts. There is also a fitness area, second-floor mezzanine for game viewing, courtside seating, lounge areas and multipurpose rooms for meetings and classes. MW Weber Architects served as the architect and Stock & Associates Consulting Engineers Inc. was the civil engineer. State Bank provided financing. Additionally, Keystone is currently constructing a 4,200-square-foot ACE Performance Lab on the first and second floors that will provide performance training and muscle recovery programs. Scheduled to open in May, this space will include Olympic lifting stations, a turf area and a recovery area. The complex’s medical provider, Mercy Sports Medicine, will use space in the performance lab to evaluate and treat athletes.
Matthews Real Estate Negotiates Sale of Five-Property Medical Office Portfolio in Metro Kansas City
KANSAS CITY, MO. — Matthews Real Estate Investment Services has negotiated the sale of a portfolio of medical office buildings throughout metro Kansas City for an undisclosed price. Known as the Sabates Eye Centers Portfolio, the portfolio features five properties with 13 suites totaling 76,826 square feet and is 90 percent leased. Rahul Chhajed and Michael Moreno of Matthews represented the undisclosed seller. A private family office based in Ohio was the buyer.
Northmarq Originates $10M Loan for Refinancing of The Vineyards Apartments in St. Louis
ST. LOUIS — Northmarq has originated a $10 million Freddie Mac loan for the refinancing of The Vineyards, a 426-unit multifamily property in St. Louis. The community consists of 19 buildings that were constructed in 1973 and renovated in 2002. David Garfinkel of Northmarq secured the fixed-rate loan on behalf of the undisclosed borrower. Kohner Properties Inc. manages the community.
Cushman & Wakefield Brokers Sale of 480-Unit Oxford Hills Apartment Community in St. Louis
ST. LOUIS — Cushman & Wakefield has brokered the sale of Oxford Hills, a 480-unit apartment community in St. Louis. The sales price was undisclosed. Located at 10304 Oxford Hills Drive, the property features amenities such as a pool, fitness center, dog park, clubhouse, playground, tennis courts and recreational areas. Matt Stephens, Hannah Ott and George Tikijian of Cushman & Wakefield represented the seller, Harbor Group International. FPA Multifamily was the buyer.