Missouri

Grand Opening Set for The Heights Linden Square in Gladstone, Mo.

by Danielle Everson April 13, 2015

GLADSTONE, MO. — Flaherty & Collins Properties will host a grand opening ceremony for The Heights Linden Square, a luxury mixed-use development in Gladstone, on Thursday, April 16. The $26 million project features 222 market rate luxury apartments and 10,000 square feet of street-front retail. The property is located 601 NE 70th St. The ground level of The Heights includes 40 two-level apartment homes, each with their own attached single car personal garage. Above the two-level apartments are two levels of flats. The average apartment home is 942 square feet. Community amenities include a fitness center, tanning salon, cyber cafe, business center and a game and leisure center. In addition, the property features a pool that includes a wet deck and an “outdoor living room,” which includes fire pits, grills and outdoor furniture.

April 13, 2015

Hospitality Midwest Missouri

Air Masters to Complete HVAC Retrofit at Hotel Renovation in Lake of the Ozarks, Mo.

by Danielle Everson April 8, 2015

LAKE OF THE OZARKS, MO. — Air Masters Corp. will complete a HVAC retrofit as part of the The Lodge of the Four Seasons hotel’s $11.5 million renovation in Lake of the Ozarks. Air Masters is incorporating a Building Automation System (BAS) to improve the hotel’s energy efficiency and savings. With guest room HVAC monitored by the BAS, hotel management will discover any potential issues before guests are inconvenienced. The hotel renovation includes the remodeling of 194 guestrooms and updating of all public areas including the entry, lobby, restaurants, meeting rooms, atrium and hallways. The project is scheduled for completion in December. The Lodge of Four Seasons offers 359 rooms and more than 60,000 square feet of meeting space. Amenities include 36 holes of golf, a full service marina and five restaurants. The Lodge is also the home of the nationally recognized Spa Shiki.

April 8, 2015

Midwest Missouri

Brennan Investment Group Completes Sale-Leaseback to Swisher Mower & Machine Co.

by Danielle Everson April 6, 2015

WARRENSBURG, MO. — Brennan Investment Group has acquired a mission critical facility of Swisher Mower & Machine Co. in Warrensburg. Swisher is a manufacturer and distributor of branded specialty lawn and garden power equipment and accessories. “This sale-leaseback transaction illustrates our ability to find solutions that allow companies to grow by concentrating on their core competencies,” says Robert Vanecko, Brennan Investment Group’s managing principal and the head of the firm’s single-tenant, net lease division. “In addition, this acquisition supports our investment objective of producing stable, long-term cash flow for our investors.” Brennan Investment Group is a private real estate investment firm that acquires and operates industrial properties on a national basis.

April 6, 2015

Midwest Missouri

Intelica CRE Arranges 1,444 SF Office Lease in St. Charles, Mo.

by Danielle Everson March 11, 2015

ST. CHARLES, MO.— Intelica CRE has arranged the lease of a 1,444-square-foot office space in St. Charles. HealthCare Risk Services Group LLC will occupy the space within The Streets of St. Charles shopping center located at 1520 S. Fifth St. Intelica CRE’s Joel Meyer represented the tenant in this lease.

March 11, 2015

Industrial Midwest Missouri

Investors Purchase Seven Industrial Buildings from Prologis for $13M

by Danielle Everson March 10, 2015

ST. LOUIS – An investor group led by Nelson Grumney of Neland Investment Management and Mark Nelson of Nelson McBride Development has purchased a portfolio of seven industrial buildings in the St. Louis area for approximately $13 million. The portfolio totals 541,000 square feet and is 91 percent occupied. The investors intend to retain the portfolio as a long-term investment. Prologis, an international industrial real estate firm based in San Francisco, Calif., sold the portfolio. Ranging in size from 41,000 to 126,000 square feet and totaling 541,000 square feet, the office/warehouse, distribution and light manufacturing buildings are located in the Earth City, Westport and Brown Campus industrial submarkets of St. Louis County. Nelson McBride will manage the buildings. Central Bank of St. Louis provided acquisition financing.

March 10, 2015

Market Reports Midwest Midwest Market Reports Missouri Office

A New Round of Office Development Appears Imminent in Metro St. Louis

by Danielle Everson February 26, 2015

The big story in the St. Louis office market is that available Class A space continues to become more scarce. As we watch the larger blocks of space being absorbed, and as Class A asking rates continue to increase, the probability for new development seems inevitable, leaving some property owners wondering if they should move forward and build. Although little new office construction is underway, the tightening market has undoubtedly prompted conversations. Expect projects to surface once developers land their first major tenant. The most likely submarkets for new development are in Clayton and West County, where many tenants requiring more than 25,000 contiguous square feet of office space are looking. You cannot have a full recovery for office occupancy until employment increases and the abundance of empty desks is absorbed. The local unemployment rate reached its peak of 10.9 percent in February 2010. The good news is that the unemployment rate hit a six-year low of 5.4 percent in October 2014. This significant drop can be attributed to the gain of over 11,000 jobs since January 2014 in the professional and business services sector. The St. Louis office market ended the year at a 10.5 vacancy rate, with Class …

February 26, 2015

Midwest Missouri

Brown Ave. Holdings Signs Lease for 52,937 SF in St. Louis

by Danielle Everson February 25, 2015

ST. LOUIS — Intelica CRE has arranged the lease of a 52,937-square-foot industrial space in St. Louis. Holdings LLC will occupy space located at 5485 Brown Ave. at Union Seventy Center. Intelica CRE represented both parties in the lease transaction.

February 25, 2015

Midwest Missouri Retail

Block & Co. Arranges Sale of 15,418 Retail Property in Independence, Mo.

by Danielle Everson February 19, 2015

INDEPENDENCE, MO. — Block & Co. Inc. has brokered the sale of Guitar Center, a 15,418-square-foot retail property in Independence. The property is located at 3911 Bolger Road. The freestanding building sits at the at the entrance drive to Walmart Supercenter, PetSmart and Sam’s Club and is across the street from Independence Center Mall. Guitar Center is a guitar retailer that operates 225 stores in the United States. David Block, Max Kosoglad and John Cobb of Block & Co. represented the buyer, a private investor who purchased the property in a 1031 tax-deferred exchange.

February 19, 2015

Midwest Missouri Retail

Chambers Real Estate Services Arranges Sale of 112,000 SF Shopping Center

by Danielle Everson February 17, 2015

SPRINGFIELD, MO. — Chambers Real Estate Services LLC has arranged the sale of a 112,000-square-foot shopping center in Springfield. A local investor purchased the property for an undisclosed price. Brentwood Center is located at 2620-2752 S. Glenstone Ave. and is across the street from Battlefield Mall, the area’s sole regional mall. Chambers Real Estate Services represented the seller, a fourth generation family who originally developed the property.

February 17, 2015

Midwest Missouri

Holland Begins Construction on New Football Facility at Missouri Baptist University

by Danielle Everson February 17, 2015

ST. LOUIS — Holland Construction Services has begun construction on Missouri Baptist University’s new football facility and practice field in St. Louis. Holland is serving as the construction manager on the $8.2 million project, which includes the addition of an artificial turf field and an 11,500-square-foot facility, which will house coaches’ offices and locker rooms. The project is expected to be completed early this summer. Ittner Architects is providing architectural services for the project.

February 17, 2015

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