ST. LOUIS — Northmarq has negotiated the sale of Westpark Apartment & Townhomes, a 212-unit garden-style multifamily property in St. Louis. Located at 11409 Tivoli Lane, the community was largely built between 1996 and 2006 with a portion developed in 1969. Units range from 800 to more than 2,000 square feet. Amenities include a pool, fitness center, playground and basketball court. Dominic Martinez, Parker Stewart, Charlie McKee and Alex Malzone of Northmarq represented the seller, a locally based private investor, and the buyer, a national owner/operator of multifamily properties.
WELDON SPRING, MO. — New Perspective and Boldt Real Estate have opened New Perspective Weldon Spring, a 136-unit senior living community in the western St. Louis suburb of Weldon Spring. Located at 400 Siedentop Road, the property features independent living, assisted living and memory care units in studio, one-bedroom and two-bedroom layouts. Amenities include a formal dining room, café, fitness center, chapel and activity spaces. The community also offers artificial intelligence-driven fall detection technology SafelyYou, life and activity programming by LifeLoop, in-house therapy services from Fox Rehabilitation and a partnership with Curana Health to bring resident-centered care. The property is situated next to Persimmons Golf Club and near Progress West Hospital.
KANSAS CITY AND ST. LOUIS — Gantry Inc., a full-service commercial mortgage banking firm based in San Francisco, has acquired Q10 | Triad Capital Advisors Inc., a member of Q10 Capital LLC. The transaction expands Gantry’s servicing portfolio by over $1.5 billion, growing its total servicing portfolio to $20 billion. Mark Reichter and Joe Monteleone, principals of Triad Capital Advisors, will hold an equity stake in the newly expanded Gantry. The transaction ensures continuity for Triad employees. Established in 1990, Triad maintains offices in both Kansas City and St. Louis. Going forward, Triad will operate under the Gantry name. Michael Heagerty, George Mitsanas, Robert Slatt and Jeff Wilcox led the Gantry acquisition team.
ST. LOUIS — Henderson Cos., the parent company of Henderson Engineers and Henderson Building Solutions, has opened an office in downtown St. Louis, establishing the company’s 14th office location. The office is situated in The PwC Pennant Building within Ballpark Village. Founded in 1970, Henderson specializes in building systems design as well as design-build construction management and commissioning. The company has worked on projects in the St. Louis area since 1979, including buildings for national brands such as Shake Shack, Tiffany & Co., Verizon and Walmart, as well as standalone developments like the ongoing SSM Health Cardinal Glennon Children’s Hospital. The company has 1,000 employees nationwide.
KANSAS CITY, MO. — Brinkmann Constructors, in partnership with EPC Real Estate Group, has broken ground on 74 Broadway, a 280-unit apartment complex in Kansas City. Situated in the Waldo neighborhood, the 440,000-square-foot project will feature a clubhouse, six-story parking garage and ground-floor retail space. BRR Architecture is the project architect. A timeline for completion was not provided.
UNIVERSITY CITY, MO. — Subtext, in partnership with Larson Capital Management, has acquired nearly two acres at 6650 Delmar Blvd. in the St. Louis suburb of University City for the development of LOCAL on Delmar. The five-story, 259-unit apartment complex will be situated in the city’s Delmar Loop entertainment district just north of Washington University in St. Louis. Construction is slated for completion in summer 2026. LOCAL on Delmar will offer a mix of studio, one-, two- and three-bedroom layouts, including townhomes. There will also be 399 parking spaces in an attached five-story garage and more than 7,000 square feet of shared amenity spaces, including a work-from-home hub, wellness suite, gym, yoga studio, pool terrace and clubroom. The project team includes ESG Architecture & Design, Brinkmann Constructors and Stock and Associates Consulting Engineers Inc. First Mid Bank & Trust is the lender.
CHESTERFIELD AND O’FALLON, MO. — Keystone Construction Co. has completed the corporate headquarters for both Tubular USA and SourceOne Solutions LLC in suburban St. Louis. Tubular USA, a supplier of in-line galvanized pipe and tubing, now occupies a 131,000-square-foot facility in Chesterfield that replaces two existing buildings in Weldon Spring. The project, situated within Spirit Valley Business Park, features offices, steel fabrication, warehouse space and room for future growth. Tubular’s steel products are integrated into the building’s architectural design. The project team included Gray Design Group, Stock & Associates Consulting Engineers Inc. and Knapp Engineering. The 37,500-square-foot headquarters for SourceOne Solutions is situated on a 6.4-acre site in O’Fallon. The company is involved with the design, construction, maintenance and renovation of commercial lighting solutions. The new facility was designed and constructed to allow for multiple expansions in the future. In addition to warehousing and manufacturing space, the property features 6,500 square feet of office space with a covered entry and patio, executive offices, training and conference rooms, open workstations and a café. The project team included Gray Design Group, Knapp Engineering and Civil & Environmental Consultants.
Cordish Cos. Opens 135-Unit Midland Lofts Apartment Building in Kansas City’s Power & Light District
KANSAS CITY, MO. — The Cordish Cos. has opened Midland Lofts in downtown Kansas City’s Power & Light District. The 135-unit apartment building is the adaptive reuse of the former Midland Office Building, which opened in 1927, and is directly connected to the Midland Theatre. The property is more than 80 percent leased, with about half of the residents coming from outside the Kansas City metro area, according to Cordish. Amenities at the 12-story project include a coffee bar, entertainment kitchen, fitness center, coworking spaces, billiards room, club lounge, meditation room, business center, conference rooms and Luxer package locker system. Locally based architecture and design firm Helix partnered with Rosin Preservation to retain historic elements of the building, which is listed on the National Register of Historic Places. RD Jones + Associates completed the interior design of the amenity spaces. Midland Lofts features a curated collection of art that was commissioned to celebrate the artists who performed in the Midland Theatre. Cordish developed the Power & Light District, which spans nine city blocks and has included more than $9.7 billion in public and private investment over the last 15 years. In 2008, Cordish and AMC completed a two-year, multi-million-dollar renovation …
By Grant Mechlin, Sansone Group The St. Louis retail market showed impressive resilience in the second quarter of 2024, thanks to strong consumer spending and growing demand across various sectors. Despite challenges such as higher borrowing costs and persistent inflation, the market tightened considerably, with availability dropping to a record low 4.8 percent and well below the five-year average, according to CoStar. This strong absorption has persisted for nine consecutive quarters, highlighting the market’s ongoing strength. A major factor behind this is the limited new supply — only 770,000 square feet of retail space was added in the past year, with nearly all of it quickly absorbed, according to CoStar. This scarcity has fueled development, especially in areas like quick-service restaurants, banks and discount retailers, as tenants are forced to explore new construction as the only viable option to combat a lack of supply in the market. Meanwhile, the overall prices of goods and services in the St. Louis area saw a 3.4 percent rise over the past year, according to the Consumer Price Index. While food costs came down slightly, there was a 5.4 percent increase in energy costs and 4.3 percent for all other consumer expenditures. Despite …
HERCULANEUM, MO. — The Jefferson County Port Authority (JCPA) has purchased approximately 18 acres along the Mississippi River in Herculaneum, a southern suburb of St. Louis. Riverview Commerce Park LLC (RCP), along with the operations of RCP, sold the acreage in a $20 million transaction. The site will serve as the first publicly owned terminal facility in Jefferson County. The port terminal at RCP is situated below any lock and dam system, providing a direct shot to the Gulf of Mexico. The terminal has more than 3,000 square feet of rail spur, located directly off the Union Pacific Railroad, and is less than two miles from I-55. The port facility and surrounding acreage anchors a broader 300-acre site that received Port District zoning earlier this year, making way for redevelopment as an intermodal transportation hub and industrial park. Under the terms of the deal, the port facility will continue to be operated by RCP in partnership with JCPA. Approximately 1 million tons of freight moved through the port in 2023. In 2022, JCPA received $25 million in funding from the State of Missouri to help support port development. This funding enabled JCPA to enter into this agreement and begin planning …
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