Missouri

Contegra Construction Completes 367,000 SF Headquarters for Melton Machine in Missouri

by Kristin Harlow October 15, 2020

WASHINGTON, MO. — Contegra Construction Co. has completed building a new headquarters and manufacturing facility for Melton Machine & Control Co. in Washington, about 50 miles west of St. Louis. The 367,000-square-foot project more than doubles the size of the company’s existing 154,000-square-foot operations. The development includes a 74,000-square-foot corporate office, training and conference space, and is designed to improve collaboration and support with nearby subsidiary Computech Manufacturing Co. The headquarters is situated on 42 acres within Heidmann Industrial Park. Joining Contegra on the project team were Gray Design Group, 21 Design Group, Case Structural Engineering, RJP Electric, Wiegmann Associates, Heggemann Plumbing, Bi-State Fire Protection and Washington Engineering & Architecture. Melton designs and builds automated welding systems for a variety of industries. The company employs 132 workers and plans to add another 20 employees at the new facility.

October 15, 2020

Illinois Industrial Market Reports Midwest Midwest Market Reports Missouri

Missouri, Illinois Ports Collaborate to Grow Business on Inland Waterways

by Kristin Harlow October 15, 2020

By Mary Lamie, Bi-State Development The key to current and future success for four ports in Missouri and Illinois is collaboration. As ports continue to play a critical role in the global supply chain, the special working relationship between the directors of the ports in St. Louis and Kansas City is helping to keep operations flowing on the inland waterways, even in the midst of the COVID-19 pandemic. Significant investments in each port are also fueling growth at each facility. “Like many others in the freight industry, we are classified as essential. We have access to six Class I railroads, two multimodal harbors, four interstate highways and millions of square feet of warehouse space, plus manufacturing areas and developable sites,” says Dennis Wilmsmeyer, executive director of America’s Central Port (ACP), where the constant level of activity reinforces the significance of all ports as the COVID-19 pandemic continues. With its location just north of St. Louis on the Illinois bank of the Mississippi River and its many transportation and logistical advantages, ACP has attracted 80-plus commercial tenants. Its harbor operators transport more than 3 million tons of goods valued at more than $1.1 billion annually. Though the pandemic has resulted in …

October 15, 2020

Industrial Market Reports Midwest Midwest Market Reports Missouri

Demand Drives Bulk Industrial Construction in St. Louis Region’s I-70 Corridor

by Kristin Harlow October 8, 2020

By Allison Gray, Steadfast City Economic & Community Partners The growing demand for distribution space and the related importance of freight logistics and a healthy supply chain have remained steady even though the COVID-19 pandemic continues to shake up markets across the U.S. and around the globe. This demand is evident in the bi-state St. Louis region, where more inventory of bulk distribution space has been added in the five-year period between 2015 and 2019 than at any other point in St. Louis history, totaling more than 18 million square feet of top-of-the-line modern bulk space. Recent construction and development trends in the bi-state St. Louis area reveal that bulk distribution buildings — those that top 250,000 square feet — have been the highest growing sector for the regional inventory. Since 2016, 94 percent of all bulk construction has been focused along the vital I-70 corridor, while 90 percent of the new major industrial parks with significant construction are located within 10 minutes of the I-70 corridor. This corridor, which includes portions of I-170, I-270 and I-370, is a development hotspot that links Illinois and Missouri. It has emerged as a major logistics corridor supported with more than $600 million …

October 8, 2020

Acquisitions Midwest Missouri Multifamily

Abacus Capital Group Acquires 398-Unit Luxury Apartment Community Near Kansas City’s Country Club Plaza

by Kristin Harlow October 7, 2020

KANSAS CITY, MO. — An affiliate of Abacus Capital Group has acquired Fountain View, a 398-unit luxury apartment community located adjacent to the Country Club Plaza shopping center in Kansas City. The purchase price was undisclosed. The property was built in 1998. Jeff Stingley, Max Helgeson and Michael Spero of CBRE represented the seller, a global investment advisor. The planned southern extension of Kansas City’s streetcar line will make Fountain View a transit-oriented development, according to CBRE.

October 7, 2020

Development Midwest Missouri Multifamily

Opus Opens 254-Unit Luxury Apartment Complex in Kansas City’s Westport Neighborhood

by Kristin Harlow October 1, 2020

KANSAS CITY, MO. — The Opus Group has completed Westley on Broadway, a 254-unit luxury apartment complex in Kansas City’s historic Westport neighborhood. Located at the corner of Westport Road and Broadway Boulevard, the six-story project features three levels of underground parking and 10,000 square feet of retail space. Floor plans vary from studios to two-bedroom units. Amenities include a pool, podcast lab, fitness center, pet spa, coworking spaces and onsite storage. Many of the existing buildings in Westport date back to the late 19th century and feature red brick. Opus selected a blend of red brick to complement the building’s surroundings. Opus served as developer, design-builder, interior designer and structural engineer. Monthly rents start at $1,139 for studios.

October 1, 2020

Market Reports Midwest Midwest Market Reports Missouri Office

St. Louis Office Market Remains Flexible Amid COVID-19

by Kristin Harlow October 1, 2020

By Brandon Wappelhorst, Sansone Group In nearly every aspect of our personal and professional lives, 2020 could unequivocally be summarized as certainly uncertain. The rapid onset of the COVID-19 pandemic has taken its toll on the world and has caused significant disruption to everyday life. While likely further down the list of today’s topical issues, the overall effect of COVID-19 on the office market in St. Louis is still to be determined — but it will undoubtedly have an impact. Over the last few years, the commercial real estate market in St. Louis, much like the rest of the country, had been riding a wave of economic success. Demand for office space was high and the region was experiencing record-low vacancy rates, increasing rental rates, positive absorption, increased volume of office sale transactions and new buildings coming out of the ground. Construction of Edge@West, a 110,000-square-foot office building in Creve Coeur, began in late 2019 after a lease was signed with lead tenant SM Global. Breaking ground at less than 25 percent pre-leased was indicative of the strength of the office market at the time. Clayton, the strongest submarket in the St. Louis metro area, also saw the beginnings of …

October 1, 2020

Midwest Missouri Restaurant Retail Video Webinar

Webinar: Greater Kansas City Retail Outlook: How is the Greater Kansas City Area Retail Sector Responding to COVID-19?

by Sarah Daniels September 27, 2020

Shopping Center Business and Heartland Real Estate Business hosted a webinar entitled Greater Kansas City Retail Outlook— How is the Greater Kansas City Area Retail Sector Responding to COVID-19?, covering the impacts of COVID-19 and what panelists expect for the rest of 2020. See a list of some topics covered below: As a city that straddles state lines, how has Kansas City been impacted by the pandemic, compared with other Midwest markets? What restrictions are in place for retailers and restaurants? How are retail property owners and tenants ensuring the safety of customers and staff? What are property owners and managers doing to work with retail tenants during these difficult circumstances? What do retailers need to recover? How will retail rents and property values be affected? What are the predictions for retail vacancy rates in the coming year? What will be the impact on new development and investment sales in the retail sector in the near term? Panelists: David E. Waters, Lathrop GPM LLP (moderator) Erin Johnston, Copaken Brooks Andy Crimmins, Crossroads Retail Group Tyler Enders, Made in KC Dan Lowe, Legacy Development David Block, Block & Company Webinar sponsors: Block & Company, Inc.: Block & Company, Inc., Realtors is …

September 27, 2020

Features Heartland Feature Archive Kansas Midwest Missouri Retail

COVID-19 Continues to Put Tenant-Landlord Relationships Under Microscope, Say Kansas City Retail Webinar Panelists

by Kristin Harlow September 22, 2020

KANSAS CITY, MO. — The COVID-19 pandemic has continued to highlight the importance of strong tenant-landlord relationships, particularly in the retail sector. Tyler Enders, co-owner of local Kansas City shop Made in KC, works with roughly 10 different landlords and has experienced a variety of different approaches to the COVID-19 conversation. “Some local landlords have been very communicative and have come to us with a creative solution. Others have been responding late and are bogged down,” said Enders. “Ultimately, we’ll continue to look at vibrant centers, but we’re going to care way more about who owns it than we have in the past.” Enders’ comments are indicative of the importance of relationships in today’s marketplace. Enders joined a panel of retail experts Wednesday, Sept. 16 for a webinar entitled “Greater Kansas City Retail Outlook” hosted by Heartland Real Estate Business and Shopping Center Business. Fellow panelists included David Block, principal and president of Block & Co.; Erin Johnston, vice president of retail brokerage for Copaken Brooks Commercial Real Estate; Dan Lowe, managing partner for Legacy Development; and Andy Crimmins, founding partner of Crossroads Retail Group. David Waters, partner with Lathrop GPM, moderated the discussion. Block said that his firm has …

September 22, 2020

Development Hospitality Midwest Missouri

Midas Hospitality to Debut $40M Element by Westin Hotel in St. Louis

by Kristin Harlow September 16, 2020

ST. LOUIS — Midas Hospitality is set to open the first Element by Westin hotel in St. Louis on Friday, Oct. 30. The $40 million hotel rises seven stories with 153 extended-stay rooms. Located at 3763 Forest Park Ave., the property will feature a rooftop bar known as Upbar. Signature cocktails were created in partnership with Luxco, a St. Louis-based beverage company. Hotworx, a 24-hour fitness studio, is the first tenant for the hotel’s 10,000-square-foot retail space. Hotworx will occupy nearly 1,900 square feet. Amenities at the hotel include a fitness center, pool and bike rental program. Element hotels feature a nature-influenced environment and are constructed with efficiency and sustainability in mind, according to Midas. Regarding COVID-19, Upbar will be open and Midas intends to abide by all city and state regulations, including the potential removal of barstools or tables to provide for proper social distancing. The fitness center will also be open, following all restrictions by the city and state.

September 16, 2020

Acquisitions Midwest Missouri Multifamily

Zovest Capital Acquires 56-Unit Apartment Community in Kansas City

by Kristin Harlow September 9, 2020

KANSAS CITY, MO. — Zovest Capital has acquired Chapel Hill Apartments in Kansas City for an undisclosed price. The 56-unit apartment community features floor plans that average 1,067 square feet. The value-add property was 96 percent occupied at the time of sale. Max Helgeson, Michael Spero and Jeff Stingley of CBRE represented the private seller. Ben Weddington of CBRE arranged acquisition financing on behalf of the buyer through Freddie Mac.

September 9, 2020

Newer Posts

Older Posts