BELTON, MO. — NorthPoint Development has received approval from Belton City Council to move forward with its $30 million expansion of Southview Commerce Center in metro Kansas City. The development currently includes three industrial buildings that are fully leased. The expansion will enable access to the business park from 155th Street and include the construction of Building 4 on the long-vacant Century Concrete plant. The new 501,000-square-foot building will be identical in design to the other buildings. Belton City Council also approved a preliminary application for single-family lots near the project. Belton’s public-private partnership with NorthPoint also calls for the creation of a workforce development center, which will provide training to ensure a prepared workforce for the business park. NorthPoint has also agreed to fund the design and engineering as well as fund half of the construction costs to replace 1.2 miles of old cast iron water pipe along Allen Avenue.
KANSAS CITY, MO. — Hunt Midwest has unveiled plans to build out an additional 700,000 square feet of Class A space in SubTropolis, the world’s largest underground business complex, located in Kansas City. The expansion, built on a speculative basis, will provide tenants with space for warehousing and distribution operations. With more than 7 million square feet of industrial space, SubTropolis offers lower operations and leasing costs than traditional above-ground industrial buildings, according to Hunt Midwest. It also offers a naturally temperature-controlled climate, helpful for storing inventory with a limited lifespan or specific temperature needs. A substantial portion of the business complex is currently utilized for e-commerce; archival and document storage; pharmaceutical and animal health facilities; and food distribution.
Cordish Cos. to Break Ground on Two Multifamily Developments in Kansas City’s Power & Light District
KANSAS CITY, MO. — The Cordish Cos. has announced plans to break ground on two multifamily developments in Kansas City’s Power & Light District. Projects include Three Light Luxury Apartments, a $140 million, 26-story tower set to offer 288 units at the corner of Truman Road and Main Street; and Midland Lofts, a repositioning of the historic Midland office building to offer 139 affordable housing units. Three Light Luxury Apartments will feature 19 floors of studio, one- and two-bedroom units alongside penthouse-style apartments; a seven-story garage with 472 parking spaces; and 7,600 square feet of ground-floor retail. Amenities are set to include a deck overlooking 14th Street, an infinity pool, bar, demonstration kitchen, theater room and a sky bridge above Walnut Street linking to the company’s Two Light multifamily community, allowing residents of both towers to share building amenities. The groundbreaking for the project to be built by JE Dunn Construction is scheduled to take place this May, with completion slated for May 2023. The Midland office building has been vacant for more than 20 years. Following renovations, Midland Lofts will offer a mix of studio and one-bedroom units with rents starting at $700 per-month. Amenities will include a coffee …
CHESTERFIELD, MO. — KeyBank Real Estate Capital has secured $54 million of fixed-rate Fannie Mae financing for the acquisition of The Parq at Chesterfield in suburban St. Louis. Irvine, Calif.-based Passco Cos. was the borrower. Built in 2019, the 345-unit apartment complex spans three buildings on 13 acres. Amenities include a pool, spa, fitness center, business center, clubhouse and corporate suites. Caleb Marten and Chris Neil of KeyBank structured the financing.
INDEPENDENCE, MO. — A Block & Co. Inc. Realtors investment group has repurposed a former FedEx facility in Independence into multi-tenant retail space. Block acquired the 8,385-square-foot property, located at 3721 Noland Road, in March 2020. It now features four tenant spaces, three of which have been leased to Little Caesars, Cricket Wireless and Grassroots Dispensary. The project also included the construction of a new parking lot and building façade. Phil Peck and Marshal Blount of Block led the investment group.
ST. LOUIS — Mac Properties, a multifamily residential developer with offices in Chicago, Kansas City and St. Louis, has delivered a luxury apartment tower in St. Louis called One Hundred Above the Park. Clayco was the general contractor for the 36-story project, which overlooks Forest Park within the city’s Central West End neighborhood. “We are proud to have completed this world-class landmark for St. Louis in the midst of the pandemic,” says Matt McKenna, Clayco’s vice president of residential construction. “The project’s success is the result of months-long planning, scheduling and logistical collaboration between all stakeholders.” Mac Properties worked closely with St. Louis Development Corp. and the City of St. Louis to bring One Hundred Above the Park to fruition, and Clayco kept construction on schedule by completing one floor per week. Architect Jeanne Gang of Studio Gang designed One Hundred Above the Park with a “scalloped” glass façade. The angled exterior gives each of the 316 apartments a corner living room with double windows, which helps Mac Properties to improve energy efficiency by promoting natural lighting. Each floorplate is designed into a leaf-shaped pattern, which gives the tower a tiered look. “We hope residents enjoy this distinctive high-rise for …
CLAYTON, MO. — Midas Construction has broken ground on a $47 million Residence Inn by Marriott hotel in Clayton, a suburb of St. Louis. The extended-stay hotel will rise 12 stories with 170 rooms. Completion is slated for 2022. A street-level bar will include indoor and outdoor seating. There will also be 3,300 square feet of meeting space with an outdoor terrace and bar. Guests will enjoy complimentary breakfast and access to a 1,500-square-foot fitness center. Joining Midas on the project team are CECO Concrete Construction Inc., SSC Engineering and Castle Contracting LLC.
ST. PETERS, MO. — Ryan Cos. US Inc. has broken ground on a 46,000-square-foot medical office building in St. Peters, about 30 miles northwest of St. Louis. The project is fully pre-leased to St. Peters Ambulatory Surgery Center, Advanced Bone & Joint, St. Luke’s Hospital Center for Diagnostic Imaging and Axes Physical Therapy. The development is situated at 5200 Executive Centre Parkway, about a half-mile from Barnes-Jewish St. Peters Hospital. Ryan Architecture + Engineering designed the building, and Ryan Cos. is serving as developer and builder. This is Ryan’s second project in St. Peters and sixth project in partnership with Surgery Partners. Completion is slated for March 2022.
CREVE COEUR, MO. — Clayco has completed the construction of EDGE@WEST, a four-story, 125,000-square-foot office building in Creve Coeur within metro St. Louis. Seneca Commercial Real Estate was the developer for the Class A project. Designed by Lamar Johnson Collaborative, the development features enhanced mechanical systems that increase healthy air flow as well as touchless doors and self-cleaning antimicrobial surfaces. Floor-to-ceiling glass provides natural light. Amenities include a fitness center, coffee bar, fireplace area, outdoor lounges and collaboration space.
ST. LOUIS — Founders Properties LLC has acquired a 537,753-square-foot industrial facility in St. Louis for an undisclosed price. The acquisition marks Founders’ first venture into Missouri. The newly constructed property is fully leased to CIRX 360 Logistics as well as a consumer food products company. It is situated within NorthPark, a 550-acre business park. It also offers convenient access to Lambert-St. Louis International Airport and major highways such as I-70 and I-170. CRG was the seller of the Class A property. Mike Caprile and Zach Graham of CBRE brokered the deal.