Missouri

E-Commerce Drives Demand for Modern Bulk Distribution Centers in Kansas City

by Jeff Shaw September 3, 2015

E-commerce and business-to-consumer companies could overtake the automotive industry when it comes to driving growth in Kansas City’s modern bulk distribution segment of the industrial market. Auto suppliers filled the first wave of new space in the Kansas City industrial market. But now that those needs have primarily been met, new industry sectors are needed to fill the second wave of development. E-commerce and business-to-consumer companies could be the dominant users. These companies are capitalizing on the fact that 85 percent of the U.S. population can be reached from Kansas City in a two-day truck drive, according to KC Smart Port, a nonprofit organization that works to attract freight-based companies to the Kansas City area. Through in-house transportation studies, KC Smart Port is coming to the conclusion that it strategically makes sense for the distribution centers of e-commerce companies to be located in Kansas City. Recommendations from UPS, FedEx and third-party consultants also help e-commerce companies — located on both the East and West coasts — make that decision. Business-to-consumer companies operating a one-, three- or five-building model find that Kansas City works well logistically as it is in the middle of the country. Inherent Advantages Locating in Kansas City allows …

September 3, 2015

Midwest Missouri Office Retail

Gershman Commercial Real Estate Brokers Two Leases In Metro St. Louis Totaling 7,364 SF

by Amy Works September 2, 2015

CHESTERFIELD AND ST. LOUIS, MO. — Gershman Commercial Real Estate has arranged two leases, totaling 7,364 square feet in Missouri. In the first deal, The Vandiver Group Inc. leased 3,864 square feet of office space within the Herman Stemme II Office Building located at 16052 Swingley Ridge Road in Chesterfield. The landlord is Chesterfield Stemme II Inc. Marcia Finch of Gershman Commercial represented the tenant in the lease. In the second deal, PPM Enterprises LLC, doing business as STL One Price Cleaners, inked a lease for 3,500 square feet of retail space within The Adler Lofts at 2035 Washington Ave. in St. Louis. Stephen Symsack and Roger Zigler of Gershman Commercial represented the landlord, Adler Lofts Master Landlord LLC, while Hilliker Corp. and Xsite Real Estate Inc. represented the tenant in the transaction. Additional terms of the transactions were not released.

September 2, 2015

Midwest Missouri Multifamily Ohio Retail

Gershman Commercial Brokers Two Property Sales in Ohio, Missouri

by Amy Works September 1, 2015

HILLIARD, OHIO, AND ST. LOUIS — Gershman Commercial Real Estate has brokered two sales totaling 5,126 square feet in Ohio and Missouri. In the first transaction, Ohio Lube LLC, doing business as Ohio Jiff LLC (Hemco Properties LLC), sold a 2,618-square-foot retail property, located at 3840 Main St. in Hilliard, to Davis & Meyer Ltd. for an undisclosed price. Stephen Symsack and Roger Zigler of Gershman Commercial represented the seller in the transaction. In the second deal, Brian Levine and Jaime Levin acquired 2,508 square feet of multifamily space, located at 4173 Humphrey St. in St. Louis. William Allemann sold the property for an undisclosed price. Lily Seymour of Gershman Commercial represented the seller in the transaction. Additional details of the transactions were not released.

September 1, 2015

Midwest Missouri Retail

RCG Ventures Acquires 118,080 SF Shop ’n Save Center in Missouri

by Amy Works August 28, 2015

ELLSVILLE, MO. — RCG Ventures (Fund III) has acquired Shop ’n Save Shopping Center located in Ellsville, a city west of St. Louis, for an undisclosed price. The 118,080-square-foot center is situated along Manchester Road, one of the most established retail thoroughfares in St. Louis. Chase Young of CBRE represented the undisclosed seller, while Jeff Miller provided in-house representation for the buyer.

August 28, 2015

Market Reports Midwest Midwest Market Reports Missouri Retail

Hungry to Expand, Fresh-Format Grocers Boldly Enter St. Louis Market

by Jeff Shaw August 27, 2015

Family-owned grocers Schnucks and Dierbergs solidified their position as the primary grocers across the St. Louis metro area when Schnucks acquired 57 stores from National Supermarkets in 1995. But after several years of these two chains dominating the grocery sector, an influx of fresh-format grocery stores is shaking up the market by offering shoppers fresh, local, organic — and in some cases more affordable — whole food choices. These new chains — typically half the size of traditional grocers — appeal to a younger customer, as well as those looking to supplement their grocery shopping or find items for special occasions. Consumers interested in the offerings of fresh-format grocers are willing to drive farther to shop at their stores. New Entrants Abound Fields Foods, a “homegrown” fresh-format grocer, opened its first location in the Lafayette Square neighborhood in January 2014. The newly constructed 37,000-square-foot, stand-alone building is just south of downtown’s central business district. The grocer markets produce provided by farmers within 100 miles of the store, and also features a wine bar and personal shoppers. This unique, full-service grocer is locally owned and was the first fresh-format store to enter the metro area. Fields Foods has plans to expand …

August 27, 2015

Loans Midwest Missouri Multifamily

Walker & Dunlop Arranges $4.3M Freddie Mac Loan for Apartment Community in Kansas City, Mo.

by Jonathan Mehall August 21, 2015

KANSAS CITY, MO. — Walker & Dunlop Inc. has arranged a $4.3 million Freddie Mac loan for Cloverleaf Apartments in Kansas City. The 204-unit affordable housing complex is located near US Highway 71 and features a mix of two- and three-bedroom apartments. Jeff Lawrence and Matt Baptiste of Walker & Dunlop arranged the fixed-rate loan with a 10-year term, two years of interest-only payments and a 30-year amortization schedule. Walker & Dunlop arranged the acquisition loan on behalf of the borrower, Stonebridge Global Partners, a commercial real estate company focusing on acquiring and managing multifamily Section 8 housing projects across the United States.

August 21, 2015

Midwest Missouri Office

DTZ Arranges 117,618 SF Office Lease for Centene in Chesterfield, Mo.

by Jonathan Mehall August 18, 2015

CHESTERFIELD, MO. — DTZ has arranged a 117,618-square-foot office lease for St. Louis-based Centene Corp. at Timberlake Corporate Center II, located at 1370 Timberlake Manor Parkway in Chesterfield. Centene provides a portfolio of services to government-sponsored healthcare programs. Built in 1999 and owned by Franklin Street Properties, Timberlake Corporate Center II is one of three buildings on the campus. Timberlake II features custom-designed suites and covered parking. Before the end of the year, the landlord expects the property to feature a full amenity package, including food service, conference/training room and a fully equipped fitness center. DTZ serves as the property manager. Scott Bazoian of DTZ represented Centene in the lease transaction. Jim Mosby, D.J. Fuchs, and Danielle Grubbs represented Wakefield, Mass.-based Franklin Street Properties.

August 18, 2015

the John E. and Adaline Simon Athletic Center at Maryville University in St. Louis.

Midwest Missouri

KWAME to Manage $1.1M Expansion and Renovation at Maryville University in St. Louis

by Jeff Shaw August 14, 2015

ST. LOUIS — Maryville University has selected KWAME Building Group Inc. to serve as construction project manager on a $1.1 million expansion and athletic office renovation at the university’s John E. and Adaline Simon Athletic Center in St. Louis. The 3,100-square-foot student fitness center will feature new exercise equipment and a new workout room. The 4,260-square-foot athletic staff offices will be relocated to a completely renovated space in the John E. and Adaline Simon Athletic Center and include a conference room for video viewing. The project is scheduled for completion in January 2016. ACI Boland is the project architect.

August 14, 2015

Phelps County Regional Medical Center Waynesville Medical Plaza

Healthcare Midwest Missouri

McCarthy Building Cos. Completes $18M Medical Clinic in Mid-Missouri

by Jeff Shaw August 12, 2015

WAYNESVILLE, MO. — McCarthy Building Cos. Inc. has completed construction of the $18 million, four-story Phelps County Regional Medical Center (PCRMC) Waynesville Medical Plaza in Waynesville. The new facility, visible from I-44 and located next to the Veteran’s Primary Care Clinic in the heart of the Missouri Ozarks, enables PCRMC to offer expanded healthcare services to Pulaski County. Services include a walk-in clinic, a full imaging suite, cardiac testing services, physicians’ offices, physical therapy and a sleep lab. It also provides a physicians’ clinic with 23 exam rooms and space for various services. The Waynesville Medical Plaza is part of a five-year master plan that PCRMC began implementing in 2013 in an effort to expand and improve patient care in the area. As part of the plan, McCarthy also completed the renovation of the pharmacy and cardiac rehabilitation departments at the main medical center in Rolla and broke ground on the new Delbert Day Cancer Institute at PCRMC this spring.

August 12, 2015

Hospitality Midwest Missouri

HREC Arranges Sale of Embassy Suites St. Louis Airport  in Bridgeton, Mo.

by Jonathan Mehall August 4, 2015

BRIDGETON, MO. — HREC has arranged the sale of a 163-room, full-service Embassy Suites St. Louis Airport Hotel in Bridgeton, located about 20 miles northwest of St. Louis. Terms of the transaction were not disclosed. The hotel is situated immediately off I-70 and is less than two miles from Lambert-St. Louis International Airport, a major hub for Southwest Airlines. Monty Levy, Jeff Preston and Scott Stephens of HREC represented the seller, Fairwood Capital LLC, in the transaction. The property was purchased by an institutional buyer and will be managed by Schulte Hospitality Group.

August 4, 2015

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