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Bass Pro Shops to Expand Boat Manufacturing Division with Purchase of 101,250 SF Building in Missouri

BOLIVAR, MO. — White River Marine Group, which is owned by Bass Pro Shops, has purchased a 101,250-square-foot industrial building situated on 42 acres in Bolivar, about 30 miles north of Springfield. The purchase price was undisclosed. Todd Chambers of Chambers Real Estate Services LLC represented the undisclosed seller. The purchase will double the manufacturing capabilities for Bass in Bolivar where Tracker Boats are built. The company plans to add 300 jobs at the new

Cleveland, Milwaukee & St. Louis Multifamily Forecasts Indicate Case for Caution

In earlier research, we found that investors may find advantageous risk and reward tradeoffs during the pandemic in often overlooked Midwest secondary markets. For the most part, average rent and occupancy metrics in these markets continued to rise throughout the summer, recession notwithstanding. Together, their inviting cap rates, rising NOI and low historic income volatility form a fairly compelling investment predicate.We also found that positive performance attributes were not limited …

Kwame Building Group to Construct $81M The City District Project in North St. Louis City

ST. LOUIS — Kwame Building Group will serve as construction manager for The City District, an $81 million mixed-use project in North St. Louis City. The project will revitalize 10 blocks in the historic O’Fallon Park neighborhood. A series of new construction and redevelopment initiatives will reimagine 610,000 square feet into retail, single-family and multifamily homes, and community greenspace. The project will be built in two phases with completion slated for spring 2025. The O’Fallon …

NorthMarq Arranges $13M Loan for Refinancing of Multifamily Portfolio in St. Louis

ST. LOUIS — NorthMarq has arranged a $13 million loan for the refinancing of Trinity Park Apartments, a 490-unit multifamily portfolio in St. Louis. The properties are located at 11043 Mollerus Drive and 11065 Dunklin Drive. Noah Juran of NorthMarq’s Cincinnati office worked alongside David Garfinkel of NorthMarq’s St. Louis office to structure the three-year loan with two years of interest-only payments followed by a 25-year amortization schedule. A regional bank provided the loan, which …

JLL Brokers Sale of Seven-Property Medical Office Portfolio in Midwest

INDIANA, ILLINOIS AND MISSOURI — JLL Capital Markets has brokered the sale of a medical office portfolio spanning seven properties and 439,000 square feet for an undisclosed price. The assets are primarily located on hospital campuses in metro areas within Indiana, Illinois and Missouri. The Class A portfolio is 93 percent leased to healthcare systems such as Ascension, Franciscan, AMITA and University of Missouri Health. Mindy Berman, Daniel Turley, Tim Joyce and Brannan Knott of JLL …

Amazon to Build 1 MSF Fulfillment Center in Republic, Missouri

REPUBLIC, MO. — Amazon.com Inc. has unveiled plans to open a fulfillment center in Republic, about 14 miles southwest of Springfield. Construction of the 1 million-square-foot facility is expected to begin in 2021. Upon completion, Amazon expects to create more than 500 full-time jobs. Employees will pick, pack and ship bulky or lager-sized items such as patio furniture, outdoor equipment and rugs. Since 2010, Amazon has created more than 4,500 jobs in Missouri and invested more than $780 …

Brinkmann Constructors Breaks Ground on $90M Luxury Apartment Project in St. Louis

ST. LOUIS — Brinkmann Constructors has broken ground on Expo at Forest Park, a $90 million luxury apartment project in the Skinker-DeValiviere neighborhood of St. Louis. The development will include 287 market-rate apartment units and 30,000 square feet of retail space within walking distance of the Forest Park-DeBaliviere Transit Center. It will also include garage parking for Metro Transit commuters and access to the St. Louis region’s MetroBus network and MetroLink light-rail system. The …

NorthMarq Arranges $21.2M Sale of Multifamily Portfolio in Suburban Kansas City

INDEPENDENCE, MO. — NorthMarq has arranged the sale of a three-property, 426-unit multifamily portfolio in Independence, a suburb of Kansas City, for $21.2 million. The properties include Hudson, a 253-unit asset at 1401 S. Cunningham Ave.; Meadowbrook, a 113-unit property at 2141 S. Swope Drive; and Winner Place, a 60-unit community at 9528 Winner Road. Urban Southwest Capital sold the portfolio to FTW Investments. Jeff Lamott and Gabe Tovar of NorthMarq brokered the sale. Kyle Tucker and …

Cambridge Air Solutions Signs 68,605 SF Industrial Lease in Metro St. Louis

WENTZVILLE, MO. — Cambridge Air Solutions has signed a 68,605-square-foot industrial lease at 1290 Interstate Drive in Wentzville within metro St. Louis. Houston-based SparrowHawk LLC owns the 420,000-square-foot building in a joint venture with American National Insurance Co. Cambridge is a manufacturer and distributor of HVAC systems. This is the second location in the St. Louis area for Cambridge. Its headquarters is located at 760 Long Road Crossing Drive in Chesterfield. Christopher …

Secondary Midwest Markets: Investor Refuge or Flavor of the Month?

More than a few column inches in multifamily media this year were dedicated to the implications of coronavirus on the housing preferences of renter households. Many theorize that the pandemic is leading householders to reexamine their attachment to urban life and consider suburban alternatives that offer larger floor plans, better schools, free parking and unit access without an elevator ride.Available data suggest there is something to this notion. Occupancy and rent in core urban …

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