Missouri

New Tenants, Developments Signal Strength of Kansas City Industrial Market

by Kristin Harlow January 16, 2020

The Kansas City industrial real estate market recorded very healthy maturation in 2019. When surveying the strength of our market, we typically consider how many new tenants or users entered the market with major investments and how many development deals were announced. Diving into the analytics, it is exciting to see some disciplined characteristics of a solid industrial market, including a slight slowdown in the pace of market expansion, a diverse group of business types demanding space, and the swift adjustment to appropriately balance supply and demand. Users entering the market The highlight reel of industrial deals in 2019 was impressive. Notable transactions include a new 420,000-square-foot water bottling plant for Niagara in South Kansas City, a 2 million-square-foot logistics hub expansion for Kubota Tractor Corp., and a 765,000-square-foot food distribution center for Hostess Brands. Additionally, Walmart just announced plans for a 1.8 million-square-foot distribution center to add to its existing three distribution centers in the area. A variety of new auto suppliers have absorbed over 1 million square feet of space to serve the Ford and General Motors automotive plants. I’m often asked what industries are moving to Kansas City and my response is all of them. The type …

January 16, 2020

Acquisitions Industrial Midwest Missouri Office

ElmTree Sells Majority Interest in $900M Net Lease Portfolio

by Kristin Harlow January 15, 2020

ST. LOUIS — ElmTree Funds has sold a majority position in a portfolio of predominantly industrial and office properties to Guggenheim Investments. The gross asset value of the 18-property portfolio is approximately $900 million. St. Louis-based ElmTree began acquiring and developing the properties in 2016. The build-to-suit, net-leased assets are located in fast-growing metropolitan areas across the United States. ElmTree will manage the assets for Guggenheim and maintain a small equity portion. Notable properties in the portfolio include a 1.5 million-square-foot industrial facility in Dallas net leased to a confectionary manufacturer and a 500,000-square-foot industrial building in St. Louis net leased to a courier delivery services company.

January 15, 2020

Development Midwest Missouri Retail

McCarthy Completes Construction of Two-Story St. Louis Aquarium at Union Station

by Kristin Harlow January 15, 2020

ST. LOUIS — McCarthy Building Cos. has completed construction of the St. Louis Aquarium at Union Station. The 120,000-square-foot, two-story attraction is situated inside a nearly 500,000-square-foot, 19th-century train shed designated as a national landmark. Featuring 1.3 million gallons of water and thousands of aquatic animals, the aquarium is the centerpiece of a $160 million family entertainment complex developed for Union Station by Lodging Hospitality Management. PGAV Destinations designed the project. ZoOceanarium Group will operate and manage the aquarium.

January 15, 2020

Development Industrial Midwest Missouri

Kadean Begins Construction of $13M Distribution Facility in Kansas City

by Kristin Harlow January 10, 2020

KANSAS CITY, MO. — Kadean Construction has broken ground on a new $13 million warehouse and distribution facility at KCI Intermodal Business Centre in Kansas City. Known as Logistics Centre VI, the 349,440-square-foot building will feature a clear height of 32 feet, up to 67 dock positions and parking for 91 trailers and 390 cars. Completion is scheduled for June 2020. M+H Architects and Stock & Associates make up the project team. Trammell Crow Co. is the developer. Kadean previously built Logistics Centre II, III and IV and is in the process of completing Logistics Centre V.

January 10, 2020

Market Reports Midwest Midwest Market Reports Missouri Multifamily

Dynamic St. Louis Multifamily Real Estate Market Is on a Roll

by Kristin Harlow January 9, 2020

The greater St. Louis metropolitan statistical area (MSA) includes the city of St. Louis, St. Louis County, Franklin, Jefferson, Lincoln, Warren and St. Charles County, as well as various counties in Illinois collectively known as the Metro East. The MSA ranks as the 21st largest in the country with a population of approximately 2.8 million residents and features many Fortune 500 and Fortune 1000 companies. St. Louis has a very diverse economy with the largest categories of employment base in transportation, utilities, education, healthcare, defense and professional/business services. The per capita income for approximately 1.5 million workers in the MSA is approximately $60,000 per year. With an unemployment rate of 3.6 percent, the MSA has had almost 11 quarters of sub-4 percent unemployment. In 2019 alone, payrolls across the MSA expanded 1.7 percent with a net gain of 23,100 jobs created. Of these, 1,500 jobs alone were created with the 2019 completion of Amazon’s first Missouri fulfillment center in St. Peters, which is a western suburb of St. Louis. Other major job creators include the 295-acre redevelopment project called Fenton Logistics Park in Fenton, which is at the forefront of transforming the logistics and manufacturing industries with 2.5 million square …

January 9, 2020

Acquisitions Midwest Missouri Multifamily

Newmark Grubb Zimmer Arranges Sale of 36-Unit Multifamily Property in Suburban Kansas City

by Kristin Harlow January 8, 2020

GRAIN VALLEY, MO. — Newmark Grubb Zimmer has arranged the sale of a 36-unit multifamily property in Grain Valley, an eastern suburb of Kansas City. The sales price was undisclosed. The property, located on Barr Road, was fully occupied at the time of sale. Chris Robertson and Trenton Wahl of Newmark Grubb Zimmer brokered the transaction. T&T Real Estate LLC sold the asset to a Utah-based investor.

January 8, 2020

Industrial Leasing Activity Midwest Missouri

Distribution Management Signs 375,200 SF Industrial Lease in St. Peters, Missouri

by Kristin Harlow January 7, 2020

ST. PETERS, MO. — Distribution Management Inc. has signed an industrial lease to occupy an entire 375,200-square-foot warehouse within Premier 370 Business Park in St. Peters. The building is situated at 1001 Premier Parkway, about 30 miles west of St. Louis. The landlord and developer, Duke Realty Corp., has now completed the lease-up of the five buildings within the 2.5 million-square-foot park. Art Leichner and Andrew Crites of Newmark Knight Frank along with Kevin McLaughlin and Dan Lesinski of Newmark Grubb Zimmer represented the tenant in the lease transaction. Geoff Orf of Colliers International served as the property’s listing agent. Distribution Management is an imaging supplies distributor and order fulfillment company.

January 7, 2020

Development Hospitality Midwest Missouri

82-Room Fairfield Inn & Suites Opens in Belton, Missouri

by Kristin Harlow January 6, 2020

BELTON, MO. — An 82-room Fairfield Inn & Suites hotel has opened in Belton, about 20 miles south of Kansas City. Located just north of Highway 58 between Mullen Road and I-49, the four-story property features complimentary Wi-Fi, meeting rooms, free parking and electric car charging stations. Other amenities include a fitness center, indoor swimming pool and valet laundry. The hotel will operate as a Marriott franchise, owned and managed by Kansas Hospitality Management Services.

January 6, 2020

Acquisitions Industrial Midwest Missouri

Colliers Brokers Sale of 37,500 SF Industrial Building in O’Fallon, Missouri

by Kristin Harlow January 6, 2020

O’FALLON, MO. — Colliers International has brokered the sale of a 37,500-square-foot industrial building in O’Fallon, about 37 miles northwest of St. Louis. The sales price was undisclosed. Permian Plastics, a manufacturer of plastic injection molding, occupies the property, which is located at 1477 Hoff Industrial Drive. Chad Burkemper, Joseph Hill and Geoff Orf of Colliers represented the seller, Permian Holdings Inc. The buyer was GK2-Hoff LLC.

January 6, 2020

Acquisitions Industrial Midwest Missouri

Marcus & Millichap Arranges Sale of 26,894 SF Industrial Building in St. Louis

by Kristin Harlow December 24, 2019

ST. LOUIS — Marcus & Millichap has arranged the sale of a 26,894-square-foot industrial building in St. Louis for an undisclosed price. The property sits on 3.9 acres at 373 Marshall Ave. It was built in 2005 and expanded in 2016. ICL North America Inc., a chemical and fertilizer company, occupies the building. Adam Abushagur and Tyler Sharp of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo also secured the private buyer.

December 24, 2019

Newer Posts

Older Posts