Monday, June 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Missouri

LoansMidwestMissouriMultifamily

Gantry Secures $10M Loan for Refinancing of Multifamily Property in Suburban Kansas City

by Kristin Harlow

INDEPENDENCE, MO. — Gantry has secured a $10 million loan for the refinancing of Hillside Apartments in the Kansas City suburb of Independence. The garden-style, three-story property features 108 multifamily units across 14 buildings at 111 Hillside Drive. The fully stabilized asset underwent a complex-wide renovation. Mark Reichter and Alec Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. Fannie Mae provided the seven-year, fixed-rate loan, which features an interest-only introductory period followed by a 30-year amortization.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMultifamilySeniors Housing

Avenue Opens 161-Unit Active Adult Community in Suburban St. Louis

by Kristin Harlow

ST. PETERS, MO. — Seniors housing developer Avenue has opened its first Viva Bene active adult community in the St. Louis suburb of St. Peters. Viva Bene is Avenue’s active adult brand and is focused on offering midmarket-priced rental rates. At nearly 200,000 square feet, the St. Peters property offers 161 units. In the three months since its soft opening, the community is 50 percent leased. In addition to providing readily available preventive healthcare, Viva Bene provides a holistic wellness hub with fitness, yoga and meditation classes, a fully appointed gym, healthy cooking workshops and other wellness-focused experiential education. Residents can enjoy pools, pickleball courts and picnic areas. Unique to the Viva Bene model is a third-party collaboration with Sevi Health for preventive health services. Residents can opt to receive care navigation and chronic care management services from Sevi Health and also access primary care from the medical practice’s providers. Viva Bene leases are based on each metropolitan area’s midmarket rental pricing. At Viva Bene St. Peters, one-bedroom units start in the $1600s per month. Garage parking and additional storage units are the only add-on fees. This differs from continuum-of-care communities where monthly prices average $3,450 and fees for buy-in …

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMidwestMissouriOffice

Baker Sterchi Cowden & Rice Signs 22,800 SF Office Lease at Deloitte Building in St. Louis

by Kristin Harlow

ST. LOUIS — Baker Sterchi Cowden & Rice LLC, a civil litigation defense and trial law firm, has signed a 22,800-square-foot office lease to occupy the entire ninth floor of the Deloitte Building in downtown St. Louis. The firm is relocating from 100 North Broadway. Owner Stanton Road Capital (SRC) is delivering The Outpost, its tenant amenity package, at the Deloitte Building. Scheduled for completion by the end of the year, The Outpost will include a fully modernized fitness center, 100-person conference facility, Wi-Fi-enabled tenant lounge and fresh grab-and-go food-and-beverage options. With the new lease, there has been 72,800 square feet of leasing activity at the Deloitte Building in the last six months. Brandon Wappelhorst, Nick Fiquette and Tom Bajardi of Sansone Group represented SRC in the lease with Baker Sterchi Cowden & Rice. Rick Messey and Rollie Fors of CBRE represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriRetail

FNRP Acquires Schnucks-Anchored Shopping Center in Florissant, Missouri

by Kristin Harlow

FLORISSANT, MO. — First National Realty Partners (FNRP) has acquired Florissant Marketplace, a grocery-anchored shopping center in the St. Louis suburb of Florissant. The property is 98 percent leased and anchored by a 70,262-square-foot Schnucks store. The grocer, which maintains over 115 stores in the Midwest, has operated at Florissant Marketplace for more than 20 years. Additional tenants include Crunch Fitness, Pet Supplies Plus, Wing Stop and AT&T. Current inline tenants have a weighted average tenure exceeding 11 years. Chase Young of CBRE represented the undisclosed seller. FNRP now owns four grocery-anchored centers totaling over 950,000 square feet in Missouri. All are located within metro St. Louis.

Continue Reading
FacebookTwitterLinkedinEmail
CivicDevelopmentMidwestMissouri

Tarlton Completes $27.5M Renovation of Old Courthouse in St. Louis

by Kristin Harlow

ST. LOUIS — Tarlton has completed a $27.5 million renovation of the Old Courthouse in St. Louis. Slated to open to the public this spring, the historic destination has only been renovated twice. The building was originally constructed from 1839 to 1862. The renovation project is jointly funded through a public-private partnership between the National Park Service and Gateway Arch Park Foundation. Tarlton improved safety and accessibility of the site, installing an elevator to make the second floor accessible for the first time in the building’s history. Critical updates also included installation of new heating, air conditioning and fire suppression systems and restoration of all windows. The renovations are the final component of the $380 million CityArchRiver project, the largest public-private partnership in the history of the National Park Service that has resulted in revitalizations to Gateway Arch park grounds, the Arch Visitor Center, Museum at the Gateway Arch, St. Louis Riverfront, Luther Ely Smith Square and Kiener Plaza.

Continue Reading
FacebookTwitterLinkedinEmail
Residences at The Streets of St. Charles
AcquisitionsIllinoisIndianaKentuckyMichiganMidwestMissouriOhioOklahomaSoutheastTennesseeTexasTop Stories

Morgan Properties Acquires 11-Property Midwest Multifamily Portfolio for $501M

by Channing Hamilton

CONSHOHOCKEN, PA. — Morgan Properties has acquired a portfolio of 3,054 apartment units across 11 communities in eight states. Chicago-based Trilogy Real Estate Group was the seller in the deal, which was valued at $501 million. The communities — which are located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma and Tennessee — were built between 1989 and 2018. Adam Doneger and Josh King of Newmark brokered the sale of 10 of the communities in the portfolio, while Walker & Dunlop brokered the sale of one property. Morgan Properties states that the firm plans to implement a value-add strategy to increase the marketability and comfort of the properties. Interior upgrades will include the installation of new flooring, appliances, cabinets and countertops, as well as smart home features. The new owner will also expand and refresh the onsite amenities. The acquisition expands Morgan Properties’ apartment holdings to more than 100,000 units across the nation. The Conshohocken-based development and investment firm now owns and operates roughly 360 communities in 22 states. “As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment,” said Jonathan Morgan and Jason Morgan, co-presidents of Morgan Properties. “Morgan Properties has a proven …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriRetail

Marcus & Millichap Arranges $22.1M Sale of Retail Power Center in Suburban St. Louis

by Kristin Harlow

ST. PETERS, MO. — Marcus & Millichap has arranged the sale of Cave Springs Shopping Center in the St. Louis suburb of St. Peters for $22.1 million. The retail power center totals 176,804 square feet. Anchor tenant Hobby Lobby has operated at the property since 2003. The Edge Fitness Club serves as a co-anchor at the property, which was fully leased at the time of sale. Additional tenants include Office Depot, Cycle Gear and LongHorn Steakhouse. Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap’s Institutional Properties Advisors division procured a local buyer completing a 1031 exchange. The sale included four outparcel buildings that the buyer can spin off during the hold period if desired, according to Wiles.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMidwestMissouriRetail

Block & Co. Secures 35,000 SF Location for Me 2 You Career Academy in Raytown, Missouri

by Kristin Harlow

RAYTOWN, MO. — Block & Co. Inc. Realtors has secured a 35,000-square-foot location for Me 2 You Career Academy in the Kansas City suburb of Raytown. The fast-track healthcare program that provides debt-free education has moved to 9808 E. 66th Terrace and 9817 E. 66th St. Me 2 You is a Missouri Department of Higher Education-accredited institution established in 2021. The new location provides a larger and improved space to support the academy’s employees, students and overall program growth. Garrett Cohoon of Block & Co. represented the tenant in the lease, while Bill Maas of Block & Co. represented the undisclosed landlord.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestMissouri

Wieland Expands Operations in Metro St. Louis with $500M Manufacturing Facility

by Kristin Harlow

ST. LOUIS — Wieland, a global supplier of high-quality copper and copper alloy solutions, is expanding its operations in the St. Louis region, investing $500 million in a new facility. Construction began in early March. The expansion will retain 800 jobs. Wieland, which manufactures products for the electric vehicle industry, contributes to the nearly 16,000 skilled metals industry workers in the area. The company also makes parts for construction, munitions, coinage and electronics. Wieland maintains recycling facilities in Granite City and produces welded copper tubes in Cuba, Mo. The St. Louis region ranks second in the United States for minerals and ores exports, primarily including metals and metal products, according to the St. Louis Regional Freightway.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestMissouri

Arch Street, Artemis Acquire 2.4 MSF Industrial Portfolio in Metro Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Arch Street Capital Advisors and Artemis Real Estate Partners have acquired a 2.4 million-square-foot industrial portfolio in metro Kansas City for an undisclosed price. The portfolio consists of four Class A properties that are all fully leased and situated near the BNSF intermodal facility. Further details regarding the transaction were not provided.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts