ST. LOUIS — Shive-Hattery has acquired KdG Architects, a 20-person architecture, engineering and interior design firm based in St. Louis. KdG’s national portfolio of hospitality and gaming projects was attractive to Shive-Hattery, which is currently serving these industries regionally, according to President Jennifer Bennett. KdG will operate as a division of Shive-Hattery, which is a 450-person architecture and engineering firm headquartered in Iowa with 14 design offices in Arizona, Illinois, Indiana, Iowa, Missouri, Nebraska, Ohio and Wisconsin.
DARDENNE PRAIRIE, MO. — Midas Construction is nearing completion of a $65 million multifamily development known as Dardenne Luxury Apartments on the Prairie in Dardenne Prairie, about 37 miles northwest of St. Louis. The five-building property will include 180 units. Amenities will include a pool, outdoor lounge, clubhouse, business room, coffee bar, fitness center and dog park. Additionally, Benton Homebuilders is constructing villas at the property. Mia Rose Holdings is the developer, Rosemann & Associates PC is the architect and Premier Design Group is the civil engineer. 2B Residential is underway on the lease-up process and will manage the property, which is slated to open later this summer. Monthly rents start at $1,250.
KANSAS CITY, MO. — Made in KC, a local retailer offering gifts and apparel, has signed a lease to open its 11th brick-and-mortar location at Red Bridge Shopping Center in Kansas City. The roughly 1,000-square-foot space is situated next to China Dragon and Cookies and Creamery. Made in KC expects to open by September. No two Made in KC locations are alike. The Red Bridge location will feature the work of more than 200 local artists. The shopping center owner, LANE4 Property Group, redeveloped the asset in 2016.
KIRKWOOD, MO. — High Street Residential, a subsidiary of Trammell Crow Co., has unveiled plans to build its first multifamily project in the greater St. Louis area. Located at 416 N. Kirkwood Road in Kirkwood, The James will rise five stories with 152 apartment units and more than 7,000 square feet of ground-floor retail space. Completion is slated for early 2024. Amenities will include a clubroom, fitness center, work-from-home center, pet wash and an amenity terrace with a pool and grill stations. The development will offer 285 parking spaces. ESG Architecture & Design is the architect and Brinkmann Constructors is the general contractor.
ST. LOUIS — Newmark has arranged a $72 million loan for the refinancing of the Marriott St. Louis Grand hotel in the central business district of St. Louis. The 917-room hotel features 77,000 square feet of meeting space and is situated adjacent to the Americas Center Convention Complex, which is currently undergoing a $210 million renovation. The hotel was originally developed in 1917 as a Statler Hotel. Jordan Roeschlaub, Dustin Stolly, Nick Scribani and Tyler Dumon of Newmark arranged the loan on behalf of the undisclosed borrower, which acquired the hotel in 2014 and renovated it.
LIBERTY, MO. — Contegra Construction Co. is nearing completion of a 1 million-square-foot distribution center at Liberty Commerce Center in Liberty, a northeast suburb of Kansas City. Dubbed Project Luna, the facility will feature a clear height of 40 feet, 112 dock doors, two drive-through doors and 20,000 square feet of office space. Completion is slated for this fall. NorthPoint Development is the developer. Upon full buildout, Liberty Commerce Center will comprise 3.4 million square feet of industrial space.
BRANSON, MO. — Drever Partners has opened The Penleigh – Branson Row, a 324-unit workforce housing property in Branson. The project consisted of the conversion of the former Angel Inn – by the Strip hotel, which Drever Partners acquired. The property offers micro apartment units along with a resident lounge, fitness center, onsite laundry facilities, playground and pool. Monthly rents start at $700. Residents can receive a $25 discount each month for early payment.
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MDH Partners Sells 58-Property Sunbelt Logistics Portfolio Located Across 10 States for $1.3B
ATLANTA — MDH Partners has sold its 58-property Sunbelt Logistics Portfolio to an undisclosed global institutional investor for $1.3 billion. MDH will retain an ownership stake in the portfolio and will continue to operate the properties. The portfolio spans 9.7 million square feet of industrial space across 10 states, including 11 properties in Georgia; 10 properties in Florida; eight properties in Texas; seven properties each in Arizona and Missouri; four properties each in Tennessee and North Carolina; two properties each in South Carolina and Virginia; and one property in Kentucky. The final two properties include nearly 675,000 square feet of newly constructed buildings in Nashville and Charlotte that were constructed with CarbonCure, a technology for the concrete industry that introduces recycled carbon dioxide into fresh concrete to reduce its carbon footprint. The portfolio consists of modern, state-of-the-art industrial and bulk distribution properties with an average size of 169,000 square feet. The properties feature average clear heights of 30 feet with 130-foot truck courts. The portfolio was 97 percent occupied at the time of sale by more than 100 regional, national and international tenants with an average remaining lease term of 5.7 years. “This diversified portfolio provides immediate scale and operating …
CLAYTON, MO. — McCarthy Building Cos. has topped out construction of Forsyth Pointe, a nearly 1 million-square-foot office development in the St. Louis suburb of Clayton. US Capital Development is developing the two-building project, which will feature street-level retail space and views of the adjacent Shaw Park. Commerce Bank Tower will rise 10 stories and span 265,000 square feet. The other building will rise eight stories and total 210,000 square feet. The development will also feature 20,000 square feet of retail space and a seven-level parking garage accommodating 1,250 cars. Designed to achieve LEED Silver certification, the project will include a 45,000-square-foot garden terrace built over the parking structure. Additional amenities will include a 10,000-square-foot fitness center and a ground-floor arts and entertainment venue. A timeline for completion was not provided.
BRANSON, MO. — Outside the Lines (OTL), a design-build construction company that specializes in water features, fountains, rockwork and themed environments, has completed a water-effects show fountain at Branson Boardwalk in Missouri. The water feature is in a cascading lake situated adjacent to the Aquarium at the Boardwalk, the first attraction developed at the entertainment complex that opened in fall 2020. The fountain plays two fully choreographed shows every half hour from 8 a.m. to 10:30 p.m. seven days a week. Branson Boardwalk is a dining, shopping and entertainment destination that is opening in phases.