Missouri

Watermark Residential Begins Development of 276-Unit Apartment Community in Kansas City

by Kristin Harlow March 25, 2020

KANSAS CITY, MO. — Watermark Residential, a wholly owned affiliate of development and construction company Thompson Thrift, has acquired 23 acres in Kansas City with plans to develop The Element by Watermark, a 276-unit Class A apartment community. Located in Platte County at 8101 Northwest Barrybrooke Drive, the community will consist of three-story, garden-style buildings. Amenities will include a clubhouse, 24-hour fitness center, swimming pool, bark park and dog spa. Element, slated for completion in November 2021, will be Watermark’s third multifamily development in the state of Missouri.

March 25, 2020

Development Midwest Missouri Mixed-Use

CapStone Holdings Invests $40M in City Foundry STL Development in Downtown St. Louis

by Kristin Harlow March 5, 2020

ST. LOUIS — CapStone Holdings Inc., a business incubator and investment group, has acquired a $40 million stake in City Foundry STL, a food hall and office project set to open in downtown St. Louis this summer. CapStone represents one of the largest single-entity investors in the $210 million first phase of the project, which will feature 122,000 square feet of restaurant and entertainment space, 105,000 square feet of retail and 107,000 square feet of office. City Foundry is a redevelopment of the former Federal Mogul factory. The Lawrence Group is the developer for the 15-acre project.

March 5, 2020

Development Industrial Midwest Missouri

U.S. Capital Development Breaks Ground on 190,350 SF Spec Building Within Fenton Logistics Park in Missouri

by Kristin Harlow February 27, 2020

FENTON, MO. — U.S. Capital Development has broken ground on Building 7 within Fenton Logistics Park. The 190,350-square-foot building is designed for office, warehouse and manufacturing uses. It is slated for completion in the third quarter of this year. The spec building will feature a clear height of 28 feet, 46 trailer dock doors and more than 330 auto parking spaces. Impact Strategies is the general contractor. Since 2017, U.S. Capital Development has developed five buildings within the park, which is situated on the site of a former Chrysler assembly plant. Current tenants include BASF, BJC Medical Group, 1st Phorm, Nexius and Alkem Laboratories. Jon Hinds and Katie Haywood of CBRE market the park for lease.

February 27, 2020

Acquisitions Midwest Missouri Office Retail

Block & Co. Arranges $1.1M Sale of Office, Retail Building in Kansas City

by Kristin Harlow February 27, 2020

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of a 12,000-square-foot office and retail building in Kansas City for $1.1 million. The property is located at 7208 Wornall Road within the Waldo District. Domino’s Pizza and Injury Chiropractic occupy the 4,000 square feet of retail space on the first floor. The second-floor office space of 5,500 square feet is currently available for lease. Marshal Blount of Block & Co. brokered the sale. An investment group purchased the asset.

February 27, 2020

Acquisitions Industrial Midwest Missouri

Stan Johnson Co. Brokers $12.5M Sale of Industrial Facility in St. Louis

by Kristin Harlow February 26, 2020

ST. LOUIS — Stan Johnson Co. has brokered the sale of a 56,021-square-foot industrial facility in St. Louis for $12.5 million. Located at 420 E. Carrie Ave., the property is fully occupied by Central States Thermo King Inc. (CSTK). Constructed in 2015, the facility serves as CSTK’s regional headquarters. At the time of sale, there were more than 10 years remaining on the original lease. Zach Harris and Brad Pepin of Stan Johnson represented the seller, Green Street St. Louis. A subsidiary of Global Net Lease Inc. purchased the asset. CSTK is a solutions provider for transportation companies, fleets, owner operators and other vehicle or heavy equipment users.

February 26, 2020

Acquisitions Midwest Missouri Retail

Hanley Investment Group Brokers $2M Sale of Two-Tenant Retail Building in Missouri

by Kristin Harlow February 18, 2020

POPLAR BLUFF, MO. — Hanley Investment Group Real Estate Advisors has brokered the $2 million sale of a two-tenant retail building in Poplar Bluff in southeastern Missouri. The 3,750-square-foot property serves as an outparcel to Mansion Mall. Built in 2018, the building is leased to Starbucks and Verizon. Jeff Lefko and Dylan Mallory of Hanley represented the seller, a local private investor. Craig Dunkle of Marcus & Millichap represented the buyer, a New Jersey-based private investor. The sales price represents a cap rate of 6.4 percent.

February 18, 2020

Acquisitions Midwest Missouri Retail

Block & Co. Arranges $9.2M Sale of Grocery Asset in Grain Valley, Missouri

by Kristin Harlow February 14, 2020

GRAIN VALLEY, MO. — Block & Co. Inc. Realtors has arranged the $9.2 million sale of a 60,000-square-foot shopping center in Grain Valley, about 25 miles east of Kansas City. Price Chopper and Starbucks occupy the property, which is situated on 7.3 acres on McQuerry Road. William Glasgow of Block & Co. represented the undisclosed buyer as well as the seller, Star Development Corp., which constructed the building in 2017.

February 14, 2020

Acquisitions Civic Midwest Missouri

Avison Young Brokers Sale of Historic School Building in St. Louis

by Kristin Harlow February 14, 2020

ST. LOUIS — Avison Young has brokered the sale of 9221 Minnesota Ave., a 22,259-square-foot, historic school building in St. Louis, for an undisclosed price. Known as Carondelet School, the property was built in 1871 and is listed on the National Register of Historic Places. It underwent a $4.8 million renovation in 2009. The buyer, goBrandgo, is a marketing and brand management firm. Steve Stradal of Avison Young represented the seller, Carondelet Holdings LLC. Gershman Commercial Real Estate represented the buyer.

February 14, 2020

Acquisitions Industrial Midwest Missouri

NGZ Brokers Sale of Seven-Building Industrial Flex Portfolio in Kansas City’s Executive Park

by Kristin Harlow February 7, 2020

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has brokered the sale of a seven-building industrial flex portfolio located in Kansas City’s Executive Park. The 210,751-square-foot portfolio is home to 17 tenants and was 89 percent occupied at the time of sale. Mark Long and John Hassler of NGZ represented the seller, Odyssey Real Estate Capital. A local investment group purchased the asset for an undisclosed price.

February 7, 2020

Loans Midwest Missouri Multifamily

Maverick Commercial Arranges $10.2M First Mortgage Loan for Manufactured Housing Community in Missouri

by Kristin Harlow February 5, 2020

HOUSE SPRINGS, MO. — Maverick Commercial Mortgage has arranged a $10.2 million first mortgage loan for Byrnes Mill Farms manufactured housing community in House Springs, located about 30 miles southwest of St. Louis. Built in 1986, the 372-site community features a pool and clubhouse. A national lender provided the bridge loan, which features a 16-month term and a 30-year amortization schedule. Proceeds from the loan refinanced the existing first mortgage, funded a reserve to be used for new house purchases, paid for closing costs and returned equity to the borrower, MHPI.

February 5, 2020

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