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AcquisitionsMidwestMissouriRetail

Mid-America, Pace Properties Negotiate Sale of 53,928 SF Retail Center in Chesterfield, Missouri

by Kristin Harlow

CHESTERFIELD, MO. — Mid-America Real Estate Corp. and Pace Properties have negotiated the sale of Chesterfield Valley Square in Chesterfield, about 20 miles west of St. Louis, for an undisclosed price. The 53,928-square-foot retail center is fully occupied. Tenants include Sherwin Williams, U.S. Bank, Bar Louie, Athletico and Oishi Sushi & Steakhouse. Ben Wineman of Mid-America and Scott Seyfried of Pace represented the seller, a St. Louis-based private investor. The Staenberg Group purchased the asset.

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AcquisitionsMidwestMissouriMultifamily

NorthMarq Arranges $10.4M Sale of Three Multifamily Properties in Missouri

by Kristin Harlow

KANSAS CITY AND RIVERSIDE, MO. — NorthMarq’s investment sales division has arranged the sale of three multifamily properties in Missouri for $10.4 million. Northcrest Apartments is a 151-unit community in Riverside. A Midwest-based buyer purchased the asset. Rock Ridge Ranch and Belton Heights are both located in south Kansas City and total 119 units. A California-based buyer purchased the properties. Jeff Lamott of NorthMarq represented the seller, Worcester Investments, in each transaction.

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DevelopmentMidwestMissouriMultifamilySeniors Housing

Tutera Nears Completion of $55M Senior Living Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Tutera Senior Living & Health Care is nearing completion of the $55 million Tiffany Springs senior living community in Kansas City. Tutera expects the 172 independent living units to be available in June, followed by 89 memory care and assisted living units in July. Community amenities at the 289,000-square-foot property include a spa, pool, outdoor courtyard, yoga studio, art studio, theater room, chapel, dog wash, concierge services and multiple dining venues. The new community will be connected via a breezeway to a rehabilitation and healthcare center that will offer short-term rehabilitation services and extended stays. Nearing Staats Prelogar & Jones Architects, BHC Rhodes and Luke Draily Construction Co. make up the project team.

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DevelopmentMidwestMissouriOffice

Cardinals, Cordish Top Out Class A Office Tower in St. Louis

by Kristin Harlow

ST. LOUIS — The St. Louis Cardinals and The Cordish Companies have celebrated the topping out of the PwC Pennant Building, the Class A office tower that is part of the $260 million expansion of Ballpark Village in St. Louis. The exterior structure of the 11-story building is now completed. The property is scheduled to open this summer. The office tower, designed jointly by HKS Architects, Hord Coplan Macht and Tao & Lee and constructed by PARIC Corp., will feature street-level retail, modern office amenities and more than 460 structured parking spaces. In addition, PwC will have a private rooftop deck that provides views of Busch Stadium, downtown St. Louis and the Gateway Arch. Joining PwC is investment banking firm ButcherJoseph & Co., which will occupy more than 8,000 square feet.

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DevelopmentMidwestMissouriOffice

McCarthy-Led Team to Construct $711.7M Campus for NGA in St. Louis

by Kristin Harlow

ST. LOUIS — McCarthy HITT, a joint venture of McCarthy Building Cos. Inc., HITT Contracting, Black & Veatch Special Projects Corp., Gensler and Akima LLC, has been selected by the National Geospatial-Intelligence Agency (NGA) to build its new campus in north St. Louis. The total project budget of about $1.7 billion includes the McCarthy HITT contract of $711.7 million, land procurement, post-construction outfitting of the building and small business construction projects. Funds are appropriated through the Pentagon’s military construction budget and Congress has authorized spending over several budget cycles. The campus will be built on a 97-acre site at Jefferson and Cass avenues. Designed to replace the current NGA facility located south of downtown, the new development will feature a 712,000-square-foot office building, parking garages, a visitor center, remote inspection facility and access control points. The U.S. Army Corps of Engineers will oversee design and construction. Preliminary work beginning this spring will include various design and pre-construction activities, submittals and joint planning. Major construction work will begin in early 2020, with plans for the campus to be operational in 2025. NGA has had a presence in St. Louis for seven decades and currently employs more than 3,000 workers locally.

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AcquisitionsMidwestMissouriMultifamily

Hamilton Zanze Acquires 420-Unit Apartment Property in Metro Kansas City

by Kristin Harlow

INDEPENDENCE, MO. — Hamilton Zanze has acquired Cornerstone Apartments in Independence near Kansas City for an undisclosed price. Built in 2004, the 420-unit apartment property features 14 buildings. Community amenities include a fitness center, indoor-outdoor pool and spa. Hamilton Zanze plans to upgrade the business center and clubhouse as well as add a dog park and package storage system. Mission Rock Residential will manage the property. The seller was not disclosed.

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DevelopmentMidwestMissouriRestaurantRetail

Raising Cane’s to Open in Belton, Missouri

by Kristin Harlow

BELTON, MO. — Raising Cane Restaurants LLC has received approval from the Belton Planning Commission to build a 3,160-square-foot restaurant near I-49 in Belton. The $1.5 million development will consist of a one-story drive-thru restaurant on a 1.7-acre lot at 1599 E. North Ave. The Raising Cane’s Chicken Fingers restaurant will include an indoor dining room with 80 seats, a covered outdoor area with 25 seats and 36 parking spaces. PM Design Group is the architect and Premier Design Group is the project engineer. The restaurant is slated for a 2020 opening.

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DevelopmentMidwestMissouriMultifamily

Cohen-Esrey Begins Conversion of Kansas City Office Building into Luxury Apartments

by Kristin Harlow

KANSAS CITY, MO. — Cohen-Esrey Development Group is converting a seven-story office building in Kansas City into a luxury apartment project. The first phase of construction, Midtown Plaza, will add 107 luxury one- and two-bedroom units to the Midtown area. Additional phases of construction call for retail and office space and a rooftop restaurant, as well as additional apartments and townhomes. California-based Kartel Capital purchased the property in 2008. Cohen-Esrey is the project developer and Construction Technologies is the general contractor. John Perlik and Don Coleman of CBRE Capstone arranged construction financing through Arvest Bank.

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DevelopmentMidwestMissouriMultifamily

Propper Construction Services Nears Completion of 265-Unit Luxury Apartment Complex in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — Propper Construction Services is nearing completion of 5300 Centre Apartments, a 265-unit luxury apartment complex in St. Peters, about 30 miles west of St. Louis. Slated to open this summer, the two-building property is situated at the intersection of Mexico Road and St. Peters Centre Boulevard near St. Peters City Centre Park. The buildings are connected by a covered bridge. Green space built on top of parking decks features community gardens, individual garden plots, outdoor gaming areas, grilling stations and recreational space. Other amenities include a pool, fitness center, yoga studio, dog park and pet salon. Monthly rental rates will range from $920 for studios to $2,555 for three-bedroom suites. Leasing is underway. Propper is the developer, while Zwick + Gandt Architecture is the architect and S.M. Wilson and Co. is the general contractor.

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DevelopmentIndustrialMidwestMissouri

Cosmos Corp. to Expand in Missouri, Open $25.7M Headquarters

by Kristin Harlow

O’FALLON, MO. — Cosmos Corp., a pet care manufacturing company, has unveiled plans to expand its presence in Missouri with a $25.7 million new headquarters in O’Fallon, about 17 miles east of St. Louis. The 240,000-square-foot property will serve as the site for all administration, manufacturing and distribution operations. The new facility will create approximately 60 full-time jobs. Wentzville-based Cosmos provides a variety of pet grooming, dental and natural flea and tick products under its TropiClean and Naturel Promise brand lines. The company currently employs more than 100 people locally and has outgrown its existing facility. Its nonprofit organization, Gifts of Love, will be co-located at the new O’Fallon headquarters. Completion of the new facility is slated for early 2020.

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