REBusinessOnline

Capital Continues to Flow to the City of Fountains

Private capital delivered several new investors to Kansas City in 2019 and the new year will undoubtedly see plenty of competitive bidding and elevated pricing. Overall, the investment market continues to be supported by Kansas City’s diversified economy, with job growth weighted on the Kansas side at 2.7 percent over Missouri’s 1.1 percent (as of August 2019). Targeting talent Kansas City’s low cost of living, educated workforce and business-friendly environment attracted several …

Block & Co. Arranges $10M Sale of Self-Storage Facility in Independence, Missouri

INDEPENDENCE, MO. — Block & Co. Inc. Realtors has arranged the sale of a 28.6-acre self-storage property in Independence for $10 million. The facility features 741 enclosed units and 450 parking stalls. William Glasgow of Block & Co. represented the seller, Lake City U-Store. The buyer, State Storage Group Kansas City LLC, plans to modernize the entire facility with computer-automated climate control and other technological

StorCo Storage Buys Shopping Center in O’Fallon, Missouri, Plans to Build 100,000 SF Self-Storage Facility

O’FALLON, MO. — StorCo Storage has purchased the O’Fallon Square Shopping Center from O’Fallon Square Properties LLC for $4.4 million. The self-storage provider plans to construct a 100,000-square-foot, indoor self-storage facility within the strip center. The two-story, climate-controlled facility will include space formerly occupied by Altitude Trampoline Park and Shop ‘n Save. Other tenants at the shopping center, including At Home Superstore, Vantage Credit Union and Fantastic …

New Tenants, Developments Signal Strength of Kansas City Industrial Market

The Kansas City industrial real estate market recorded very healthy maturation in 2019. When surveying the strength of our market, we typically consider how many new tenants or users entered the market with major investments and how many development deals were announced. Diving into the analytics, it is exciting to see some disciplined characteristics of a solid industrial market, including a slight slowdown in the pace of market expansion, a diverse group of business types demanding space, …

ElmTree Sells Majority Interest in $900M Net Lease Portfolio

ST. LOUIS — ElmTree Funds has sold a majority position in a portfolio of predominantly industrial and office properties to Guggenheim Investments. The gross asset value of the 18-property portfolio is approximately $900 million. St. Louis-based ElmTree began acquiring and developing the properties in 2016. The build-to-suit, net-leased assets are located in fast-growing metropolitan areas across the United States. ElmTree will manage the assets for Guggenheim and maintain a small equity …

McCarthy Completes Construction of Two-Story St. Louis Aquarium at Union Station

ST. LOUIS — McCarthy Building Cos. has completed construction of the St. Louis Aquarium at Union Station. The 120,000-square-foot, two-story attraction is situated inside a nearly 500,000-square-foot, 19th-century train shed designated as a national landmark. Featuring 1.3 million gallons of water and thousands of aquatic animals, the aquarium is the centerpiece of a $160 million family entertainment complex developed for Union Station by Lodging Hospitality Management. PGAV Destinations …

Kadean Begins Construction of $13M Distribution Facility in Kansas City

KANSAS CITY, MO. — Kadean Construction has broken ground on a new $13 million warehouse and distribution facility at KCI Intermodal Business Centre in Kansas City. Known as Logistics Centre VI, the 349,440-square-foot building will feature a clear height of 32 feet, up to 67 dock positions and parking for 91 trailers and 390 cars. Completion is scheduled for June 2020. M+H Architects and Stock & Associates make up the project team. Trammell Crow Co. is the developer. Kadean previously …

Dynamic St. Louis Multifamily Real Estate Market Is on a Roll

The greater St. Louis metropolitan statistical area (MSA) includes the city of St. Louis, St. Louis County, Franklin, Jefferson, Lincoln, Warren and St. Charles County, as well as various counties in Illinois collectively known as the Metro East. The MSA ranks as the 21st largest in the country with a population of approximately 2.8 million residents and features many Fortune 500 and Fortune 1000 companies. St. Louis has a very diverse economy with the largest categories of employment base in …

Newmark Grubb Zimmer Arranges Sale of 36-Unit Multifamily Property in Suburban Kansas City

GRAIN VALLEY, MO. — Newmark Grubb Zimmer has arranged the sale of a 36-unit multifamily property in Grain Valley, an eastern suburb of Kansas City. The sales price was undisclosed. The property, located on Barr Road, was fully occupied at the time of sale. Chris Robertson and Trenton Wahl of Newmark Grubb Zimmer brokered the transaction. T&T Real Estate LLC sold the asset to a Utah-based

Distribution Management Signs 375,200 SF Industrial Lease in St. Peters, Missouri

ST. PETERS, MO. — Distribution Management Inc. has signed an industrial lease to occupy an entire 375,200-square-foot warehouse within Premier 370 Business Park in St. Peters. The building is situated at 1001 Premier Parkway, about 30 miles west of St. Louis. The landlord and developer, Duke Realty Corp., has now completed the lease-up of the five buildings within the 2.5 million-square-foot park. Art Leichner and Andrew Crites of Newmark Knight Frank along with Kevin McLaughlin and Dan …

Conferences