Missouri

Provender Partners Sells 232,556 SF Distribution Center in Berkeley, Missouri

by Kristin Harlow August 12, 2020

BERKELEY, MO. — Provender Partners has sold a 232,556-square-foot distribution center leased to Dollar General in Berkeley near St. Louis. Provender also sold a separate Dollar General-occupied distribution center in San Antonio along with the Berkeley facility for a total of nearly $64 million. Provender acquired both facilities in 2019 and invested more than $6 million in improvements and renovations before securing 10-year leases with Dollar General for both properties. With freezer, cooler and dry storage space, the properties are part of Dollar General’s new DG Fresh initiative to bring logistics capabilities in-house. Guy Ponticello and Robert Gibson of CBRE and Scott Delphey of Food Properties Group represented Provender in the sale. The buyer was undisclosed.

August 12, 2020

Development Industrial Midwest Missouri

Opus Breaks Ground on 13.5-Acre Industrial Development in Earth City, Missouri

by Kristin Harlow August 7, 2020

EARTH CITY, MO. — The Opus Group has broken ground on a 13.5-acre industrial development in Earth City, about 20 miles northwest of St. Louis. Johnstone Supply, a wholesale distributor of HVAC equipment, will occupy four acres with a new 45,000-square-foot headquarters and distribution center. Opus will also construct an 111,000-square-foot speculative industrial building on the remaining 9.5 acres. Johnstone’s space will include a training room and product showroom. The spec building will feature 139 car parking stalls, 27 dock positions and a clear height of 32 feet. Construction on both buildings is slated to begin this month with completion scheduled for spring 2021. Opus is the developer, design-builder, architect and engineer. Jake Corrigan and Vince Bajardi of Sansone Group will market the project for lease.

August 7, 2020

Development Industrial Midwest Missouri Office

Kadean Construction Completes New Headquarters, Logistics Center for 1st Phorm in Fenton, Missouri

by Kristin Harlow August 6, 2020

FENTON, MO. — Kadean Construction has completed construction of a new 185,590-square-foot headquarters and logistics facility for 1st Phorm, a manufacturer and distributor of nutrition supplements and athletic apparel. The multi-million-dollar facility is located in Fenton Logistics Park in Fenton, a southwest suburb of St. Louis. The project includes corporate offices, 16 Zoom rooms, a 222-seat education and training auditorium, private library, podcast studio and a 16,000-square-foot athletic facility with a weight training room, basketball court and batting cages. The company is relocating from its headquarters in South St. Louis County and consolidating several warehouses around the St. Louis area. More than 400 employees will work at the building. U.S. Capital Development is the developer and owner of the project. M+H Architects served as architect.

August 6, 2020

Industrial Midwest Missouri

Hunt Midwest Unveils Promotions, New Hires to Support Volume of Industrial Projects

by Kristin Harlow August 4, 2020

KANSAS CITY, MO. — Kansas City-based developer Hunt Midwest has promoted two members of its management team and hired three new employees. The move is in effort “to support the volume of development projects underway and in the pipeline,” according to a release from the company. Earlier this year, Hunt Midwest completed construction of 400,000 square feet of speculative Class A industrial space at SubTropolis, the world’s largest underground business complex. The addition brought the amount of leasable space in SubTropolis to more than 6.5 million square feet. There is more than 7.5 million square feet available for development at the site. Justin White has been promoted to senior director of operations and will continue oversight of facilities, security, property management and capital improvements for SubTropolis. Tony Borchers has been promoted to senior director of acquisitions and development. Borchers was instrumental in expanding Hunt Midwest’s industrial footprint to Louisville, Ky. Tyler Schyvinck has joined the commercial division as manager of facilities. He will supervise ongoing maintenance, light construction and grounds operations for SubTropolis and portions of the Hunt Midwest Business Center. Bret Richardson has joined the corporate services division as asset manager. He will guide third-party management and operations of …

August 4, 2020

Leasing Activity Midwest Missouri Restaurant Retail

Napoli III to Join Tenant Lineup at Streets of St. Charles in Suburban St. Louis

by Kristin Harlow July 31, 2020

ST. CHARLES, MO. — Napoli III will join the tenant lineup at Streets of St. Charles, a 27-acre mixed-use development owned by Cullinan Properties in suburban St. Louis. Napoli III is the third restaurant from the Pietoso family and an extension of the family’s original Café Napoli. The new restaurant will occupy 4,500 square feet and feature a private room as well as outdoor dining. The menu will offer fresh seafood and pasta as well as favorites such as the veal chop and penne a la vodka. Buildout of the space for Napoli III is set to begin in August. An opening date has not yet been released.

July 31, 2020

Acquisitions Indiana Midwest Missouri Ohio Retail Wisconsin

Gorjian Acquisitions Sells 500,000 SF Midwest Retail Portfolio for $25M

by Kristin Harlow July 29, 2020

OHIO, WISCONSIN, INDIANA AND MISSOURI — Gorjian Acquisitions has sold eight retail and mixed-use properties totaling more than 500,000 square feet for $25 million. The portfolio includes the following Midwest properties: Saint Clairsville Plaza in Saint Clairsville, Ohio; Bradley Square in Milwaukee; Cabool Center in Cabool, Mo.; a single-tenant Dunkin’ property in Gary, Ind.; and Lafayette Center in Indianapolis. The portfolio also includes a mixed-use building in Brooklyn, N.Y.; a single-tenant Family Dollar property in Danville, Va.; and Oglethorpe Plaza in Albany, Ga. Gorjian Acquisitions, based in Great Neck, N.Y., is led by Joel J. Gorjian. The privately held commercial real estate investment and management firm holds an ownership interest in 75 properties nationwide. Buyer information was not disclosed.

July 29, 2020

Development Midwest Missouri Mixed-Use Top Stories

Clayco to Redevelop Vacant Hospital into $100M Mixed-Use Project in St. Louis

by Kristin Harlow July 29, 2020

ST. LOUIS — Clayco is underway on Delmar Divine, a $100 million redevelopment of a long-vacated hospital campus along Delmar Boulevard in St. Louis. The 500,000-square-foot project will become “a hub for innovation and enterprise,” according to Clayco. Completion is slated for fall 2021. The first phase will establish a nonprofit working space, a café and residential apartments. The 150 multifamily units will be geared toward professionals in fields such as social work, nursing and policing. More office space and services such as early childhood education will follow. The developers hope to attract a myriad of nonprofits, foundations and community support organizations to the project. The name “Delmar Divine” draws a sharp contrast to how the area has historically been negatively perceived, according to Clayco. For many years, the area was referred to as the “Delmar Divide” due to racial and income stratifications that existed on the north and south ends of the street. “We want to enhance growth and investment in this neighborhood,” says Bob Clark, executive chairman and founder of Clayco. “At the same time, we want to do it responsibly so we’re not displacing people or relocating anyone, but bringing prosperity, jobs and the type of development …

July 29, 2020

Industrial Leasing Activity Midwest Missouri

Avison Young Negotiates 124,952 SF Industrial Lease for Elite Printing & Packaging in Suburban St. Louis

by Kristin Harlow July 28, 2020

HAZELWOOD, MO. — Avison Young has negotiated a 124,952-square-foot industrial lease on behalf of Elite Printing & Packaging at Hazelwood TradePort in Hazelwood, about 20 miles northwest of St. Louis. Elite outgrew its former space in Wentzville. Timothy Convy and Brian Kelley of Avison Young represented Elite in the lease at Hazelwood TradePort, which is owned by NorthPoint Development. The long-term lease is for space at 1601 TradePort Drive.

July 28, 2020

Development Midwest Missouri Office Top Stories

McCarthy Breaks Ground on 1 MSF Forsyth Pointe Mixed-Use Development Near St. Louis

by Kristin Harlow July 22, 2020

CLAYTON, MO. — McCarthy Building Cos. Inc. has broken ground on Forsyth Pointe, an office and retail development in the central business district of Clayton, just west of St. Louis. Developed by US Capital Development, the project will include two Class A office towers with more than 20,000 square feet of street-level retail space. The office portion will rest atop a seven-story parking structure, bringing the project’s total square footage to nearly 1 million square feet. A 10-story, 265,000-square-foot east tower will occupy the corner of Forsyth Boulevard and Meramec Avenue. An eight-story, 210,000-square-foot west tower will reside at Brentwood and Forsyth boulevards. In addition to a 45,000-square-foot garden terrace, amenities will include a 10,000-square-foot fitness center and an arts and entertainment venue. Completion is slated for summer 2022. Project costs were not disclosed. “Forsyth Pointe will add prime office space and innovative retail space, increasing street vitality and the pedestrian experience on a prominent corner across from Shaw Park, one of our city’s crown jewels,” says Clayton Mayor Michelle Harris. Established in 1935, the 47.5-acre Shaw Park is the city’s oldest and largest park. The Forsyth Pointe project team includes Christner Architects, Cedergreen LLC, Alper Audi, Stock & Associates, …

July 22, 2020

Acquisitions Midwest Missouri Multifamily

Berkadia Arranges $81.5M Sale of Multifamily Property in Kansas City

by Kristin Harlow July 21, 2020

KANSAS CITY, MO. — Berkadia has arranged the sale of Coach House in Kansas City for $81.5 million. The 807-unit, garden-style multifamily property is located at 655 E. Minor Drive and features one-, two- and three-bedroom floor plans. Amenities include a pool and tennis court. Alex Blagojevich, Michael Sullivan, Brett Meinzer and Dominic Martinez of Berkadia arranged the sale on behalf of the seller, Virginia-based Harbor Group International. The company had purchased the property as part of a $1.8 billion portfolio of assets in early 2020, but Coach House does not align with Harbor’s “strategic and geographic focus,” according to Berkadia. A San Francisco-based private buyer purchased Coach House.

July 21, 2020

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