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Missouri

DevelopmentMidwestMissouriMultifamily

Draper and Kramer Begins Pre-Leasing 225-Unit Apartment Development in St. Louis

by Kristin Harlow

ST. LOUIS — Draper and Kramer Inc. has begun pre-leasing Moda at The Hill, a 225-unit apartment development in The Hill neighborhood of St. Louis. Residents can begin moving in this summer. The four-story building offers units that range in size from 600 to 1,200 square feet. Monthly rents start at $1,270. Amenities include a fitness center, game room, coworking spaces, grilling stations, fire pits, pool and hot tub. Moda at The Hill is part of a larger 11-acre master plan led by Draper and Kramer that includes single-family homes by McBride Homes and a community park.

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AcquisitionsMidwestMissouriRestaurantRetail

Marcus & Millichap Negotiates $3.1M Sale of Chipotle-Occupied Property in St. Louis

by Kristin Harlow

ST. LOUIS — Marcus & Millichap has negotiated the sale of a Chipotle-occupied retail property in St. Louis for $3.1 million. The 2,415-square-foot building, located at 3547 Hampton Ave., features a “Chipotlane” drive-thru. Chipotle opened for business at the location in 2020. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. The buyer was not disclosed.

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Leasing ActivityMidwestMissouriOffice

Hunt Midwest to Occupy Second Floor of Corrigan Station II in Kansas City, Missouri

by Kristin Harlow

KANSAS CITY, MO. — Commercial real estate firm Hunt Midwest will take occupancy of the entire second floor of Corrigan Station II in Kansas City beginning this summer. The newly constructed office building rises three stories and spans 22,910 square feet at 1881 Main St. Hunt Midwest will utilize the space as a satellite office for its main headquarters, which is located in SubTropolis, an underground business park in Kansas City. Copaken Brooks owns Corrigan Station II, which offers direct access to one of the city’s streetcar stops. John Coe and Ryan Biery of Copaken Brooks represented ownership, while Hunt Midwest was represented by its management team.

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AcquisitionsMidwestMissouriMultifamily

CBRE Arranges Sale of 126-Unit Luxury Apartment Community in Downtown Kansas City

by Kristin Harlow

KANSAS CITY, MO. — CBRE has arranged the sale of Arterra, a 126-unit luxury apartment community in Kansas City’s Crossroads Arts District. An affiliate of a Florida-based sovereign wealth fund purchased the property from Arterra LLC, a joint venture between St. Louis-based Altus Properties and Kansas City-based Copaken Brooks. The sales price was undisclosed. Jeff Stingley and Max Helgeson of CBRE represented the seller. Arterra features amenities such as a sun terrace deck, infinity pool, Luxor package system, fitness center and attached parking structure.

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AcquisitionsHealthcareMidwestMissouri

JLL Income Property Trust Acquires Kansas City Medical Office Portfolio for $22.2M

by Kristin Harlow

KANSAS CITY, MO. — JLL Income Property Trust has acquired a medical office portfolio in metro Kansas City for $22.2 million. The portfolio comprises three properties spanning more than 50,000 square feet. Roeland Park is a nearly 30,000-square-foot building constructed in 2021. Its largest tenant is AdventHealth Shawnee Mission, a subsidiary of AdventHealth. Northland Women’s Healthcare is a 10,000-square-foot property constructed in 2021 that is fully leased to the women’s healthcare provider. Blue Springs Pediatrics is a 10,500-square-foot building that was redeveloped in 2021. It is leased to a physician group that is a subsidiary of Children’s Mercy. JLL Income Property Trust now owns 12 healthcare properties totaling more than 1.1 million square feet that are valued in excess of $450 million and represent approximately 8 percent of its overall portfolio.

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DevelopmentIndustrialMidwestMissouri

Hunt Midwest to Build 3,300-Acre Logistics Park in Kansas City, Missouri

by Kristin Harlow

KANSAS CITY, MO. — Hunt Midwest has closed on the acquisition of more than 1,300 acres located adjacent to the Kansas City International Airport. The land is contiguous with roughly 2,000 acres already owned by Hunt Midwest, which plans to build the largest logistics park in the state of Missouri. Dubbed KCI 29 Logistics Park, the project will support up to 18 million square feet of Class A logistics and manufacturing space, along with more than 20 acres of commercial mixed-use space. Hunt Midwest says the site has the potential to attract more than 8,000 employees with an overall capital investment of nearly $1.3 billion over the next decade. The project will be situated near KCI Air Cargo operations, which includes hubs for UPS, FedEx and USPS.

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Data CentersDevelopmentIndustrialMidwestMissouri

Meta to Build $800M Data Center in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Meta Platforms Inc., formerly known as Facebook Inc., plans to build a nearly 1 million-square-foot data center in Kansas City. Meta will invest more than $800 million for the project, which will support up to 100 jobs. The facility is expected to be operational in 2024. The data center will be located in Golden Plains Technology Park, a 5.5 million-square-foot data center campus. The site will be supported by 100 percent renewable energy. Meta plans to use the Data Center Sales Tax Exemption Program, a tool that incentivizes the location and expansion of data centers in the state of Missouri.

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AcquisitionsMidwestMissouriNet LeaseRetail

Marcus & Millichap Arranges $3.4M Sale of Planet Fitness-Occupied Property Near St. Louis

by Kristin Harlow

SHREWSBURY, MO. — Marcus & Millichap has arranged the $3.4 million sale of a 20,000-square-foot property net leased to Planet Fitness in Shrewsbury, a western suburb of St. Louis. The building is located at 7521 Watson Road. Dominic Sulo and Benjamin Bach of Marcus & Millichap represented the seller, a limited liability company. A West Coast-based buyer purchased the property while completing a 1031 exchange.

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DevelopmentMidwestMissouriOffice

Franklin Partners Unveils Renovation Plans for The Plaza Office Building in Clayton, Missouri

by Kristin Harlow

CLAYTON, MO. — Franklin Partners has unveiled plans to renovate The Plaza in Clayton, a western suburb of St. Louis. The firm acquired the 340,529-square-foot office building in October 2017. The property was completed in 2001. Franklin Partners expects to bring approximately 160,000 square feet of renovated space to market in April 2023. There will also be a new amenity space named The Plaza Six. Offerings will include flexible spaces, private meeting rooms, two lounges, a game room, golf simulator, fitness center, rooftop deck and a tenant experience app. Mark Palmer and Artie Kerckhoff of CBRE are the leasing agents for the property. Wright Heerema Architects is the project architect.  

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AcquisitionsMidwestMissouriMultifamily

Curry Real Estate Services Acquires Four Apartment Complexes in Missouri

by Kristin Harlow

BLUE SPRINGS AND INDEPENDENCE, MO. — Curry Real Estate Services has acquired four apartment complexes in Missouri for an undisclosed price. The acquisition includes the 69-unit Blue Springs Apartments and the 28-unit Millwood Apartments in Blue Springs, as well as Chrysler Garden and Chrysler Garden II Apartments in Independence that total 120 units. Hawley Realty was the seller. Some of the properties had been managed by Curry since 2006.

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