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AcquisitionsMidwestMissouriMultifamilyNorthmarq

Northmarq Arranges Sale of 456-Unit Multifamily Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Northmarq has arranged the sale of Timberlane Village in Kansas City for an undisclosed price. Built in 1987, the 456-unit multifamily community consists of 40 buildings across 27 acres. Units range from 704 to 1,253 square feet. Amenities include a pool, tennis court, fitness center, sauna, clubhouse, covered parking and green space. Gabe Tovar, Jeff Lamott, Parker Stewart and Dominic Martinez of Northmarq represented the seller, the property’s original developer. Daniel Stickane of Northmarq arranged acquisition financing on behalf of the buyer, Venterra Realty. The Fannie Mae loan features a fixed interest rate. The transaction marks the first time the property was on the market and the first acquisition for Venterra in the Kansas City market.

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CivicDevelopmentMidwestMissouri

New $1.5B Terminal Opens at Kansas City International Airport

by Kristin Harlow

KANSAS CITY, MO. — The new 40-gate terminal at Kansas City International Airport has opened for commercial air service. At just over 1 million square feet and a budget of $1.5 billion, the terminal marks the largest single infrastructure project in the city’s history, according to the airport. The new terminal features spacious gate areas, nearly 50 local and national food and beverage concepts, and shopping experiences. Two moving walkways expedite transfers between the two concourses. Consolidated and flexible security checkpoints with 16 lanes were designed to accommodate the ebb and flow of passenger volume. A new 6,200-space garage is adjacent to the terminal with covered parking. The new terminal replaces the previous three-terminal format at the airport. Terminal A was razed to make way for construction of the new terminal and garage. Terminals B and C remained in operation, but they officially close with the opening of the new terminal. The two old terminals will be razed. The Terminal B garage will remain open and serve as employee parking, and the Terminal C garage will be used for public parking in the future. Led by developer Edgemoor Infrastructure & Real Estate and its design-build partner Clark | Weitz | …

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CivicDevelopmentMidwestMissouri

New $1.5B Terminal Opens at Kansas City International Airport

by Kristin Harlow

KANSAS CITY, MO. — The new 40-gate terminal at Kansas City International Airport has opened for commercial air service. At just over 1 million square feet and a budget of $1.5 billion, the terminal marks the largest single infrastructure project in the city’s history, according to the airport. The new terminal features spacious gate areas, nearly 50 local and national food and beverage concepts, and shopping experiences. Two moving walkways expedite transfers between the two concourses. Consolidated and flexible security checkpoints with 16 lanes were designed to accommodate the ebb and flow of passenger volume. A new 6,200-space garage is adjacent to the terminal with covered parking. The new terminal replaces the previous three-terminal format at the airport. Terminal A was razed to make way for construction of the new terminal and garage. Terminals B and C remained in operation, but they officially close with the opening of the new terminal. The two old terminals will be razed. The Terminal B garage will remain open and serve as employee parking, and the Terminal C garage will be used for public parking in the future. Led by developer Edgemoor Infrastructure & Real Estate and its design-build partner Clark | Weitz | …

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DevelopmentMidwestMissouriMixed-UseMultifamilyOfficeRestaurantRetailTop StoriesUncategorized

Brain Group, Mercier Street Begin $250M Mixed-Use Redevelopment Project at Former Middle and High School in Kansas City

by Jaime Lackey

KANSAS CITY, MO. — Co-developers Brain Group and Mercier Street are underway on the conversion of the former Westport Middle and Westport High School campuses in Kansas City into Park 39, a $250 million mixed-use development. The live-work-play campus will be situated on 16 acres at 39th and McGee streets in the city’s Midtown district. Anchoring the project is The Residences at Park 39, a 138-unit apartment community within the four-story former Westport High School. Upon completion, The Residences will include flexible work areas, a fitness center and mailroom, auditorium transformed into modules, conference rooms and library and event spaces for groups large and small. Individual residences will have open floor plans with high ceilings and modern finishes for kitchens, bathrooms and living areas. Each unit will have its own washer and dryer and will range from 400 square feet to 1,600 square feet in size, with expected monthly rents ranging from $950 to $2,000. The building’s new infrastructure will include smart technology and updated electrical, plumbing and fire alarm and protection systems. The original brick-and-stone façade and the front entry of the high school’s original 1908-era building are being preserved and restored, as are the original hardwood floors and …

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DevelopmentMidwestMissouriMixed-UseTop Stories

Brain Group, Mercier Street Begin $250M Mixed-Use Redevelopment Project at Former Middle and High School in Kansas City

by John Nelson

KANSAS CITY, MO. — Co-developers Brain Group and Mercier Street are underway on the conversion of the former Westport Middle and Westport High School campuses in Kansas City into Park 39, a $250 million mixed-use development. The live-work-play campus will be situated on 16 acres at 39th and McGee streets in the city’s Midtown district. Anchoring the project is The Residences at Park 39, a 138-unit apartment community within the four-story former Westport High School. Upon completion, The Residences will include flexible work areas, a fitness center and mailroom, auditorium transformed into modules, conference rooms and library and event spaces for groups large and small. Individual residences will have open floor plans with high ceilings and modern finishes for kitchens, bathrooms and living areas. Each unit will have its own washer and dryer and will range from 400 square feet to 1,600 square feet in size, with expected monthly rents ranging from $950 to $2,000. The building’s new infrastructure will include smart technology and updated electrical, plumbing and fire alarm and protection systems. The original brick-and-stone façade and the front entry of the 1908-era high school are being preserved and restored, as are the original hardwood floors and ceramic tile. …

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DevelopmentMidwestMissouriMultifamilySeniors Housing

Spellman Brady & Co. Completes Interior Design for Memory Care Addition in Shrewsbury, Missouri

by Kristin Harlow

SHREWSBURY, MO. — Spellman Brady & Co. (SBC) has completed the interior design for the addition to Our Mother of Perpetual Help Memory Care at the Cardinal Ritter Senior Service’s campus in Shrewsbury, a western suburb of St. Louis. SBC selected the project’s interior finishes as well as the furnishings and artwork. The single-story memory care addition features two memory care households consisting of 13 private units each. Bright door colors were used in the hallways to help residents locate their units. SBC collaborated with Vessel Architecture, which developed the building addition, and BSI Constructors, the general contractor.

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DevelopmentIndustrialMidwestMissouri

Refresco Invests $20M to Expand Beverage Manufacturing Facility in Truesdale, Missouri

by Kristin Harlow

TRUESDALE, MO. — Refresco, a global independent beverage solutions provider, is investing more than $20 million to expand capacity at its beverage manufacturing facility in Truesdale, about 58 miles west of St. Louis. Refresco plans to increase production capabilities through the installation of an additional production line. The Truesdale facility is Refresco’s fourth and largest plant in Missouri. The company maintains 74 production locations across North America, Europe and Australia.

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AcquisitionsMidwestMissouriMultifamilyNorthmarq

Northmarq Arranges $11M Sale of Multifamily Portfolio in Metro Kansas City

by Kristin Harlow

ST. JOSEPH, MO. — Northmarq has arranged the $11 million sale of a 194-unit multifamily portfolio in St. Joseph, a northern suburb of Kansas City. The portfolio includes City View Lofts, Summit Place, Eugene Field and Frederick Apartments. City View Lofts was originally built in 1915 as St. Joseph Junior College before being redeveloped into lofts. The other properties date back to the early 1900s as well. Jeff Lamott and Gabe Tovar of Northmarq represented the seller, Worcester Investments. The buyer was undisclosed.

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DevelopmentMidwestMissouriMultifamilyStudent Housing

Aptitude Development to Break Ground on 508-Bed Student Housing Community Near St. Louis University

by Kristin Harlow

ST. LOUIS — Aptitude Development is set to break ground on The Marshall St. Louis, a 508-bed student housing community located near St. Louis University. Construction is scheduled to begin this spring, with completion anticipated for fall 2025. Amenities will include an expansive hot tub, fitness facility, gaming lounge, collaborative and individual study spaces, café areas and fire pits. Aptitude is a student housing developer based in Elmwood Park, N.J.

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AcquisitionsMidwestMissouriRetail

Marcus & Millichap Brokers $1.2M Sale of Dollar General-Occupied Property in Troy, Missouri

by Kristin Harlow

TROY, MO. — Marcus & Millichap has brokered the $1.2 million sale of a 9,026-square-foot retail property occupied by Dollar General in Troy, about 55 miles northwest of St. Louis. The net-leased building is located at 6054 Creech Lane. Karl Hinkel, Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the seller, a limited liability company. The property sold to a 1031 exchange buyer at 100 percent of the list price. Dollar General had more than seven years remaining on its lease term at the time of sale.

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