Missouri

Mid-America Brokers $15.2M Sale of Retail Property in St. Louis

by Christina Cannon June 14, 2016

ST. LOUIS — Mid-America Real Estate Corp. has brokered the $15.2 million sale of Southtown Centre, an 88,364-square-foot retail property in St. Louis. Newport Capital Partners acquired the property on behalf of Newport Capital Partners Fund II. Southtown Centre is comprised of five buildings located at the northwest corner of Chippewa Street and Kingshighway Boulevard in the Tower Grove South neighborhood. Tenants at the center include Walgreens, PetSmart, OfficeMax, Athletico and Starbucks. Ben Wineman of Mid-America was the sole broker in the transaction and represented the seller, a publicly traded REIT.

June 14, 2016

Illinois Industrial Midwest Missouri Office

Ten-X Brokers Sale of Two Midwest Properties for a Total of $17.3M

by Christina Cannon May 27, 2016

ST. LOUIS AND HARVARD, ILL. — Ten-X has brokered the sale of two office/industrial properties for a total of $17.3 million. In the first deal, an undisclosed seller disposed of a Class A, 347,399-square-foot office tower in St. Louis for $8 million. AKNO 1010 Market Street St Louis Missouri LLC was the buyer. The 20-story property, built in 1981, is located at 1010 Market St. Amenities include ground-floor retail, a gym, conference room, lounge, covered parking, courtyard, 24-hour security, concierge services and on-site management. In the second deal, Optima Ventures LLC sold a 1.5 million-square-foot office and industrial property in Harvard, Ill. for $9.3 million. The 325-acre Midwest Corporate Campus is located at 2001 North Division St. The property is comprised of five manufacturing, distribution and office buildings and was formerly the regional headquarters for Motorola. The building, constructed in 1997, has been vacant since 2003. Amenities at Midwest Corporate Campus include two on-site daycare facilities, a cafeteria, rooftop and ground-level heliports, fitness center, auditorium, ponds and running and biking trails. Both properties were sold on the Ten-X Commercial online platform.

May 27, 2016

Midwest Missouri Retail

LANE4 Property Group Remodels 150,000 SF Shopping Center in Kansas City

by Christina Cannon May 27, 2016

KANSAS CITY, MO. — LANE4 Property Group Inc. is remodeling and renovating the Red Bridge Shopping Center, a 150,000-square-foot retail property in Kansas City. The center is anchored by Lipari’s Sun Fresh Grocery Market and will see the return of tenant Euston Hardware. Since purchasing the center six months ago, LANE4 has secured leases and commitments for over one-third of the existing vacant space. Others tenants at the center include Blue Bicycle Fitness Center and Sofi Cucina Italiana Restaurant. The renovation is expected to be complete by this October and includes an extensive overhaul of the façade, new roofs and parking lots, two large tower elements that will open and bring natural light into restaurant spaces and new landscaping. Centric Projects is the general contractor. Generator Studio is the architect of record.

May 27, 2016

Midwest Missouri Multifamily Seniors Housing

Tutera to Break Ground on $65M Seniors Housing Community in Kansas City

by Christina Cannon May 25, 2016

NORTH KANSAS CITY, MO. — Tutera Senior Living & Health Care will break ground this week on the $65 million Tiffany Springs Senior Community, a continuing care retirement community (CCRC) in North Kansas City, located just across the Missouri River from Kansas City proper. The 14-acre luxury community will feature more than 300 units of independent living, assisted living, memory care and rehabilitation in 300,000 square feet of buildings. Design company studioSIX5 is providing interior design services. Builders for the community include Nearing Staats Prelogar & Jones Architects of Prairie Village, Kan.; Lutjen Inc. of North Kansas City; and Luke Draily Construction Co. of Riverside, Mo. Based in Kansas City, Tutera Senior Living & Healthcare is a developer and operator of 47 seniors housing communities in 13 states throughout the Midwest, Southeast, Oklahoma and Texas.

May 25, 2016

Midwest Missouri Multifamily Seniors Housing

Construction Begins on $66M, 140-Unit Seniors Housing Community in Missouri

by Christina Cannon May 23, 2016

LIBERTY, MO. — Developers have broken ground on Norterre, a master-planned seniors housing community in the Kansas City suburb of Liberty. Development costs are estimated at $66 million for the first phase, which will include a health center, café, single-family homes for seniors and short-stay rehabilitation. Norterre will be built on a 17-acre site adjacent to Liberty Hospital. A 50,000-square-foot healthy living center will act as the center of the community. The seniors housing portions of the community will be based on the household model where up to 20 seniors share a set of amenities. When complete, the community will feature 60 assisted living units, 20 assisted living units and 60 skilled nursing beds. The first phase is expected to open in spring or summer 2017.

May 23, 2016

Midwest Missouri Retail

GBT Realty Corp. to Build $54M, 300,000 SF Retail Center in Metro St. Louis

by Christina Cannon May 20, 2016

ST. PETERS, MO. — GBT Realty Corp. has unveiled plans to develop a $54 million retail center, the largest project of its kind in the St. Louis metro area since 2008. The Shoppes at Mid Rivers, which will be located on 28 acres in St. Peters, a northwestern suburb of St. Louis, is slated to open in late 2017. Current plans for the 300,000-square foot regional center include three anchor tenants, five to seven junior anchors, small shop space and four, one-acre outparcels. Demolition of existing buildings will start immediately upon acquisition of the site later this year.

May 20, 2016

Midwest Missouri

Kwame Completes $1.1M Expansion of Student Fitness Center for Maryville University

by Christina Cannon May 17, 2016

ST. LOUIS — Kwame Building Group Inc. has completed a $1.1 million expansion of Maryville University’s student fitness center in St. Louis. The John E. and Adaline Simon Athletic Center consists of 3,100 square feet of workout space and 4,260 square feet of athletic staff offices, which were relocated and renovated. The renovation also included the addition of a high-tech conference room for video viewing. ACI Boland provided architectural design services.

May 17, 2016

Midwest Missouri Office

HOK Designs 17,000 SF Office Space in St. Louis for Square Inc.

by Christina Cannon May 12, 2016

ST. LOUIS — HOK has designed a 17,000-square-foot office space for Square Inc. at the @4240 building in the Cortex Innovation Community in St. Louis. HOK and developer Wexford Science & Technology LLC previously renovated the LEED-certified building that once housed a 1940s phone factory. The new space features 16-foot ceilings, skylights, activity spaces, meeting and phone nooks, adjustable desks, acoustic panels and a micro kitchen that can accommodate various company functions. Artisan Building Co. served as the general contractor. San Francisco-based Square is a financial services and mobile payment company.

May 12, 2016

Midwest Missouri Office

CBRE Arranges Three Office Leases Totaling 39,692 SF in St. Louis Suburb

by Christina Cannon May 9, 2016

CREVE COEUR, MO. — CBRE Group Inc. has arranged three new office leases at the former SSM building in Creve Coeur, a western suburb of St. Louis. The 42,000-square-foot building had been vacant for the previous two years, but is now 95 percent leased. All but 2,100 square feet is occupied. Midwest Geriatric Management leased 15,064 square feet, Argos Family Office LLC inked a deal for 14,854 square feet and Koven Technology will occupy 9,774 square feet. Argos Family Office will be the first tenant to move into its space in May, followed by Koven Technology in June and Midwest Geriatric Management in July. DCM Management Company LLC manages the property, located at 477 N. Lindbergh Blvd. The undisclosed owner plans to upgrade the common areas, lobby and restrooms, as well as, add a fitness center and coffee bar. The building was initially constructed as the headquarters for SSM Healthcare in 1991. SSM occupied the entire building until 2013. Artie Kerckhoff of CBRE represented the landlord in the transaction.

May 9, 2016

Midwest Missouri Multifamily Student Housing

CA Student Living, Fields Holdings Break Ground on 430-Bed Student Housing Community near the University of Missouri

by Christina Cannon May 4, 2016

COLUMBIA, MO. — A partnership between CA Student Living and Fields Holdings has broken ground on Rise on 9th near the University of Missouri campus in Columbia. The 10-story, 430-bed project is the sixth development by the partnership. Brinkmann Constructors is building Rise on 9th, which was designed by ACI Boland. The project is scheduled to be completed in time for the fall 2017 academic semester.

May 4, 2016

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