Thursday, October 16, 2025
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Missouri

DevelopmentHospitalityMidwestMissouri

Midas Building Group Completes $20M Dual-Branded Hotel Project Near St. Louis Airport

by Kristin Harlow

ST. LOUIS — Midas Building Group has completed a $20 million dual-branded hotel at 10300 Natural Bridge Road serving the nearby St. Louis Lambert International Airport. Lawrence Group was the architect, and Lodging Hospitality Management was the developer. The project connects the existing St. Louis Airport Hilton hotel built in the 1960s with a new 78,957-square-foot Hampton Inn hotel. In addition to architecture, Lawrence Group provided interior design, furniture procurement and landscape architecture on the project, which also included extensive interior renovations to the Hilton’s existing 18,100-square-foot, first-floor public areas. The Hilton’s four-story wing was replaced with a new six-story, 128-bed Hampton Inn hotel designed to operate independently from the adjacent Hilton hotel. Hampton Inn guests are able to utilize amenities within the renovated Hilton, including the fitness center, business center and indoor pool. Construction of the Hampton Inn portion was coordinated to not disrupt operations of the Hilton hotel, which provides an additional 397 rooms.

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DevelopmentIndustrialMidwestMissouri

Ace Hardware Opens 1.5 MSF Retail Support Center at KCI 29 Logistics Park in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Ace Hardware has opened its new 1.5 million-square-foot retail support center at Hunt Midwest’s KCI 29 Logistics Park in Kansas City. The project marks the first completed development at the 3,300-acre industrial park. The retail support center will support Ace’s growing network of more than 5,000 locally owned retail locations. Measuring a half mile from end to end, the new facility is the largest distribution center in Kansas City by building footprint and is almost twice the size of Ace’s average retail support center, according to Hunt Midwest. Clayco served as general contractor for the build-to-suit facility, and BZI Steel installed the roof. Ace has installed automation and advanced warehouse technology systems to streamline operations and minimize environmental impact. KCI 29 Logistics Park is located in almost the exact center of the continental U.S. on I-29 and is adjacent to the Kansas City International Airport. The industrial park can support up to 17.8 million additional square feet of build-to-suit development.

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DevelopmentIndustrialMidwestMissouriSelf-Storage

Inland, Devon Complete 797-Unit Self-Storage Adaptive Reuse Project in St. Louis

by Kristin Harlow

ST. LOUIS — Inland Real Estate Investment Corp. and Devon Self Storage have completed an 80,217-square-foot self-storage facility with 797 units in St. Louis. The project at 4222 Union Blvd. involved the conversion of a warehouse into a climate-controlled self-storage property. The three-story facility features a 24-hour security system and is situated near I-70. Approximately 75 percent of St. Louis’ self-storage inventory is comprised of converted properties from prior uses, according to Inland, which maintains a self-storage portfolio of more than $1.8 billion in assets under management. Devon currently manages 190 properties across 31 states.

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DevelopmentIndustrialMidwestMissouri

McCarthy Breaks Ground on 740,520 SF Equipment Operations Hub in Metro St. Louis

by Kristin Harlow

MARYLAND HEIGHTS, MO. — McCarthy Building Cos. Inc. has broken ground on a 17-acre equipment and warehouse distribution facility in the St. Louis suburb of Maryland Heights. The McCarthy Equipment Operations Hub will span nearly 740,520 square feet and is designed to support the general contractor’s self-perform capabilities. Located in the new 141 Logistics Center, the project will include a 9.5-acre equipment yard and a 66,400-square-foot building that will include a 32,000-square-foot warehouse, 10,000-square-foot equipment maintenance shop and two-story, 24,400-square-foot office space. Completion is scheduled for 2026. The facility is also designed to support workforce development and training. St. Louis-based McCarthy says it has outgrown its current leased property in Ladue, Mo., which has been in use since the mid-1960s.

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DevelopmentMidwestMissouriMultifamily

MBG Nears Completion of 180-Unit Luxury Apartment Complex in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Builder MBG is nearing completion of Hearthstone at Autumn Hollow, a 180-unit luxury apartment complex in the St. Louis suburb of Wentzville. The first building is slated for occupancy this month, with the entire five-building complex slated for completion in January. Mia Rose Holdings and J.V. Lombardo are co-developing the community. Amenities will include a fitness center, coworking space, resort-style pool, conference room, dog park, clubhouse and walking paths. Capital Eleven Management is the property manager. Additional project partners include Rosemann & Associates, Engenuity, Civil and Environmental Consultants and Landesign.

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Affordable HousingLoansMidwestMissouriMultifamily

Northmarq Secures $18M HUD-Insured Loan for Affordable Housing Community in Metro St. Louis

by Kristin Harlow

O’FALLON, MO. — Northmarq has secured more than $18 million in HUD financing for Southernside Apartments, a 220-unit affordable housing community in the St. Louis suburb of O’Fallon. The property features one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, game room, business center, great room, covered parking and walking trails. Eugene Harris of Northmarq arranged the 35-year loan on behalf of Hennessey Construction Co.

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AcquisitionsHealthcareMidwestMissouri

Marcus & Millichap Arranges $6.3M Sale of St. Louis Medical Office Property

by Kristin Harlow

ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.

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ElmTree-Funds
AcquisitionsCompany NewsMissouriNew YorkTop Stories

BlackRock to Acquire Net-Lease Industrial Investor ElmTree Funds

by Hayden Spiess

NEW YORK CITY AND ST. LOUIS — New York City-based investment manager BlackRock Inc. (NYSE: BLK) has announced plans to acquire net-lease real estate investment firm ElmTree Funds. BlackRock has entered into a definitive agreement with ElmTree, which has $7.3 billion in total assets under management as of March 31. The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and customary closing conditions. Established in 2011 and based in St. Louis, ElmTree owns and operates real estate properties, with a focus on single-tenant, build-to-suit industrial assets. ElmTree’s portfolio includes investments in 122 properties across 31 states.  Additionally, ElmTree’s portfolio includes six office locations. BlackRock’s upfront consideration will be paid primarily in stock, with the potential for additional consideration subject to ElmTree Funds’ performance over the next five years. Additional financial details were not disclosed. Upon closing of the deal, ElmTree will be integrated into Private Financing Solutions (PFS), a new platform created through BlackRock’s combination with HPS Investment Partners. (BlackRock completed its acquisition of investment firm HPS earlier this month.)  “The net lease market is estimated at $1 trillion, and our continued belief in the industrial build-to-suit model is rooted in the mission-critical …

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DevelopmentMidwestMissouriMultifamily

Mia Rose Holdings to Build $60M Luxury Apartment Development in Valley Park, Missouri

by Kristin Harlow

VALLEY PARK, MO. — Mia Rose Holdings LLC will build 44 East, a $60 million luxury apartment development in the western St. Louis suburb of Valley Park. The project is situated on the site of the former Wet Willy’s, a hotspot from the 1980s and 1990s. Mia Rose closed on the land acquisition from Mercy Hospital in June. The community will feature 216 apartment units. As the sister project to 44 West Luxury Living, the development reflects community feedback by offering a greater mix of two- and three-bedroom units alongside one-bedroom options. Residents will enjoy coworking lounges and resort-style amenities. The project team includes equity partner Argos Capital Partner; debt partners Commerce Bank and First Bank; design partners Rosemann & Associates, Engenuity, The Sterling Co. and SCI Engineering; and building partners Karrenbrock Construction for sitework and Midas Building Group for vertical construction.

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Leasing ActivityMidwestMissouriOffice

JLL Negotiates Five Office Leases Totaling 120,000 SF in Fenton, Missouri

by Kristin Harlow

FENTON, MO. — JLL has negotiated five new office leases totaling more than 120,000 square feet at 1400 S. Highway Drive in Fenton near St. Louis. The building is now 95 percent leased. The tenants come from a wide range of industries, with Delta Dental being the largest lease at 69,000 square feet. The Maritz family, a local owner, is the landlord. The family’s company, Maritz, also operates on the campus.

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