Missouri

Hilliker Corp. Arranges Sale of 114,000-Square-Foot Industrial Property in Missouri

by Katie Sloan June 16, 2015

HAZELWOOD, MO. — Hilliker Corp., a St. Louis-based commercial real estate company, has arranged the sale of a 114,000-square-foot property located on more than 11 acres in the St. Louis suburb of Hazelwood. The building is located at 5800 Fee Fee Road and contains 18-foot clear ceiling heights, 16 docks with five drive-in doors and a partially fenced parking area for large trucks and trailers. Meade Summers of Hilliker Corp. represented the buyer, Fenton Heavy Manufacturing LLC, and Mark McNulty of CBRE represented the seller, Jefferson Bank and Trust, in the transaction. A logistics company currently leases 75,000 square feet of the property.

June 16, 2015

Midwest Missouri

Gershman Commercial Forms Gershman Commercial Equities to Acquire, Manage Investment Property

by Amy Works June 9, 2015

ST. LOUIS — Gershman Commercial Real Estate has formed Gershman Commercial Equities (GCE) to acquire and manage investment property. Co-founded by Tom Stern and Joseph McGauley, the firm will focus on acquiring and repositioning office, industrial, retail and mixed-use properties in the St. Louis metro regions, as well as metro areas within a 250-mile radius of St. Louis. Equity sources for the new firm will consist of the Gershman family, private syndicated investors and institutional partners. GCE will leverage the resources and support of Gershman Commercial Real Estate for underwriting, financial analysis, due diligence and other related support with Gershman Commercial’s property management, leasing and brokerage services deployed post-acquisition.

June 9, 2015

Midwest Missouri Retail

The Boulder Group Arranges $4.6M Sale of Walgreens Property in Missouri

by Amy Works May 29, 2015

INDEPENDENCE, MO. — The Boulder Group has arranged the sale of a single-tenant Walgreens property located at 2261 S. Sterling Ave. in Independence. A high-net-worth investor based in Miami acquired the 18,000-square-foot property for $4.6 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based institution, and the buyer in the transaction.

May 29, 2015

Midwest Missouri Retail

Gershman Commercial Brokers Sale of 15,859 SF Retail Space in Missouri

by Amy Works May 27, 2015

EUREKA, MO. — Gershman Commercial Real Estate has brokered the sale of a 15,859-square-foot retail space located at 98 The Legends Parkway in Eureka. CUNA Mutual Investment Corp. sold the property to The Legends Plaza LLC for an undisclosed sum. Roger Zigler and Stephen Symsack of Gershman Commercial represented both parties in the transaction.

May 27, 2015

Midwest Missouri Office

Gershman Commercial Brokers Sale of 35,701 SF Office Property in Missouri

by Amy Works May 26, 2015

MARYLAND HEIGHTS, MO. — Gershman Commercial Real Estate has brokered the sale of an office property located at Craigshire Road in Maryland Heights. CUNA Mutual Investment Corp. sold the 35,701-square-foot property for an undisclosed price to Integrity Disbursing LLC, acting as qualified intermediary for Gamma Enterprises LLC. Tim Balk of Gershman represented the seller, while Lee & Associates of St. Louis represented the buyer in the transaction.

May 26, 2015

Midwest Missouri Multifamily

TriStar Properties Begins Development of 204-Unit Bramblett Hills

by Amy Works May 19, 2015

O’FALLON, MO. — St. Louis-based TriStar Properties is developing Bramblett Hills, a 204-unit apartment community located near the intersection of Highway K and Mexico Road in O’Fallon. Contegra Construction Co. is serving as general contractor for the project. Situated on 11 acres, Bramblett Hills will feature 17 freestanding three-story buildings with a combination of one-, two- and three-bedroom apartments. Ranging from 770 to 1,330 square feet, the residences will feature full kitchens with stainless steel appliances, granite countertops, vinyl plank flooring, bay windows and vaulted ceilings in third-floor homes. Additionally, a combination of detached garages and carports will offer covered parking for 204 vehicles and supplement ample open-air parking. Community amenities will include a 2,500-square-foot clubhouse featuring a fitness center, a business center, multi-purpose community spaces, a zero-entry swimming pool with waterfall waterscape, poolside cabanas and trellised outdoor cooking and fireplace lounges. Additional on-site amenities include a dog park and recycling center. The first phase, including the clubhouse and 36 residences, is slated to open in September. Full build-out is scheduled for September 2016.

May 19, 2015

Midwest Missouri Multifamily

Village Green Acquires ICON on the Plaza Apartments in Kansas City

by Amy Works May 19, 2015

KANSAS CITY, MO. — Village Green has acquired ICON on the Plaza Apartments in Kansas City for an undisclosed price. The company plans to redevelop and reposition the three-tower apartment community, located in Country Club Plaza, to be one of its City Apartments brands. The redevelopment community will feature studio, one-, two- and three-bedroom apartments and penthouses; a 24/7 fitness center; Zen garden; resort swimming pools; bark park/dog run; rooftop Sky Club with gourmet kitchen, two-sided fireplace, lounge and bar seating, large television and gaming area; an outdoor Sky Park with fire pit and lounge seating overlooking Country Club Plaza; theater room; business center/conference room; dog wash; and a bike storage and repair area. The property’s new name and models will be announced in June. Village Green Construction is the contractor for the redevelopment project, which is slated for completion in spring 2016.

May 19, 2015

Midwest Missouri Retail

M&M Arranges $2.9M TGI Friday’s Property in Springfield, Mo.

by Danielle Everson May 15, 2015

SPRINGFIELD, MO. — Marcus & Millichap has arranged the $2.9 million sale of TGI Friday’s, an 8,000-square-foot net-leased property located in Springfield. The property is located at 3242 S. Stewart Ave. Chad Lieber and Dominic Sulo of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor. Brett Chetek, a broker in Marcus & Millichap’s St. Louis office, assisted in closing the transaction.

May 15, 2015

Market Reports Midwest Midwest Market Reports Missouri Retail

Shopping Center Developers are Increasingly Active in Metro St. Louis

by Danielle Everson May 14, 2015

Statistically speaking, retail real estate market conditions have remained relatively stable in St. Louis throughout 2014 and early 2015. Close to 88,000 square feet of new retail space was delivered in the first quarter of this year, resulting in a slight uptick in vacancies. At the end of the first quarter, the overall vacancy rate stood at 7.3 percent, up 10 basis points from the prior quarter, according to CoStar Group. The pace of new development is expected to escalate this year, with several new projects on the drawing board: • Pace Properties is under contract in Midtown — across from the IKEA that will soon open — to develop Midtown Station. The project will include 150,000 square feet of retail space. • Summit Development Group is under contract in Richmond Heights to develop a mixed-use project totaling 120,000 square feet that will feature a combination of restaurant and retail space — possibly even a grocer — and a hotel. The project will be known as The Crossings at Richmond Heights. • The city of Kirkwood has approved plans to redevelop the southeast and southwest corners of Lindbergh Boulevard and Manchester Road to make way for a Fresh Thyme Farmers …

May 14, 2015

Hospitality Midwest Missouri

Laurus Completes $10M Renovation to Hilton Kansas City Hotel

by Danielle Everson May 11, 2015

KANSAS CITY, MO. — Laurus Corp. has completed a $10 million renovation on the Hilton Kansas City Airport Hotel. The property is located at 8801 NW 112th St. All 347 guest rooms and guest bathrooms saw renovations including new carpeting, stonework and modern artwork. All three ballrooms include 21,000 square feet of total meeting space and the largest meeting room accommodates up to 700 people in a theater-style setting. The newly renovated indoor/outdoor pool and lounge is designed to create an oasis for guests to relax and unwind. In addition, the restaurant and bar was revamped and now operates as Asado Grill. Surrounded by more than 6 million square feet of office space, including several Fortune 500 companies, the hotel offers proximity to shopping, dining and other entertainment venues.

May 11, 2015

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