TOWN AND COUNTRY, MO. — Ten Capital Management (TCM) has acquired 575 Maryville, a Class A office building in Town and Country, a suburb of St. Louis. The 258,441-square-foot building includes a fitness center, two conference rooms, on-site dining and parking. The property is currently 97 percent leased to four tenants, including anchor Cushman & Wakefield. Neither the seller nor the sales price was disclosed.
KANSAS CITY, MO. — Berkadia has arranged $30 million in acquisition financing for 909 Walnut, a high-rise apartment building in Kansas City. Located at 909 Walnut St., the property includes 152 apartment units. The bottom four floors consist of office space. Amenities include a rooftop garden and fitness center. The purchase included both the office and apartment portions of the property as well as the parking garage. John Schorgl of Berkadia arranged the financing on behalf of the borrower, Worcester Investments. Fannie Mae provided the 12-year permanent financing, which features an interest-only period and a 30-year amortization schedule. Daniel Burkons, Michael Barron, Joshua Wintermute and Max Helgeson of Marcus & Millichap’s Institutional Property Advisors represented the seller, a Dallas-based private investor.
KANSAS CITY, MO. — The LCP Group LP and Blue Vista Capital Management have acquired the Hilton Kansas City Airport hotel for an undisclosed price. The 347-room hotel is located less than three miles from the Kansas City International Airport. The hotel recently underwent renovations to its guest rooms, public spaces and meeting rooms. In addition to a fitness center and pool, the property features an on-site restaurant, Asado Urban Grill. HEI Hotels & Resorts will manage the hotel.
LIBERTY, MO. — Block & Co. Inc. Realtors has negotiated the sale of a 19,900-square-foot retail building in Liberty, a northeastern suburb of Kansas City. The sales price was not disclosed. The property is located on a one-acre pad site in front of Liberty Commons shopping center. The building is fully leased to Blaze Pizza, Phone Medic, Evolve Juicery & Paleo Kitchen, Chic Nails & Spa, Orange Theory Fitness, Joplimo Mattress and McAlister’s Deli. David Block and Alex Block of Block & Co. represented the buyer, Liberty Commons 2018 LLC. Legacy Liberty LLC was the seller. Block & Co. will handle leasing and property management for the building.
ST. LOUIS — Lawrence Group, the developer for City Foundry STL, has unveiled that the 30,000-square-foot food hall at the mixed-use project is now 50 percent preleased. The lineup of food vendors is exclusive to the development and St. Louis. Tenants include CropCircle, serving country fair-type foods; Good Day, offering crepes and breakfast sandwiches; Hello Poke, serving fresh poke and seafood; Lost & Found, a burger and pizza joint; Juice Box Central, a drink station with juices and smoothies; Mokyu Mokyu, selling ice cream with a Japanese and Korean flair; Press Waffle Co.; serving made-to-order waffles; Sumax, known for its Middle Eastern hummus and wraps; and UKraft; offering breakfast bowls, sandwiches, and soups. City Foundry STL is the adaptive reuse of the former 10-acre Century Electric Foundry complex in St. Louis’ Midtown neighborhood. The $210 million first phase will include 122,000 square feet of restaurant and entertainment space, 105,000 square feet of shops and 107,000 square feet of office space. Additional tenants will be announced this spring. Phase I is slated to begin opening in mid-2019.
KANSAS CITY, MO. — Marcus & Millichap has brokered the sale of View High Lake, a 309-unit multifamily community in Kansas City. The sales price was not disclosed. Built in 1973, the property is situated near I-470 and Highway 350. Nick Fluellen, Bard Hoover and Max Helgeson of Marcus & Millichap brokered the transaction. In addition to the apartment complex, the sale includes a 31-acre parcel to the south and an 18-acre parcel to the north that will enable the new owner to construct common area amenities, additional apartment buildings or single-family homes, according to Fluellen.
ST. LOUIS — One Liberty Properties Inc. (NYSE: OLP) has purchased an Ashley Furniture distribution center in St. Louis from an affiliate of Mohegan Capital for $10 million. The 119,680-square-foot, single-tenant property is located at 9791 Green Park Industrial Drive and features a clear height of 38 feet. Jason Powell and Colin Couch of Stan Johnson Co. represented the seller. The transaction represents a cap rate of 7.2 percent. The buyer also owns the tenant’s headquarters in Memphis, Tenn.
PEORIA, ILL. AND JEFFERSON CITY, MO. — Affiliates of Phoenix Investors have purchased two industrial properties in Peoria and Jefferson City. The Peoria property consists of four industrial buildings totaling approximately 478,400 square feet. Constructed between 1977 and 2003, the buildings are situated on nearly 40 acres. At the close of the sale, Superior Consolidated Industries entered into a sale-leaseback agreement for the entire property. Headquartered in Peoria, the company provides third-party logistics support to U.S.-based manufacturers. The Jefferson City property is a 276,180-square-foot industrial building situated on 59.4 acres. Automotive seat manufacturer Adient US LLC primarily occupies the facility, which was built in 1974 and underwent expansions in 1978 and 1992. The sellers were not disclosed.
LEE’S SUMMIT, MO. — Block & Co. Inc. Realtors has arranged the sale of Valle Vista shopping center in Lee’s Summit for an undisclosed price. The property sits on 5.4 acres on the southwest corner of 291 Highway and Chipman Road. Tenants at the fully occupied property include IHOP, Celsius Tannery, Ted’s Café Escondido, Vintage Stock and Five Guys. David Block and Max DiCarlo of Block represented the buyer, LS Valle Vista 2018 LLC. Block & Co. will handle leasing and property management for the new owner. Block Real Estate Services represented the seller.
KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has arranged the sale of Northpointe Tower in Kansas City for an undisclosed price. The 109,193-square-foot office building is located at 10220 N. Ambassador Drive. The property is 25 percent occupied after anchor tenant Dairy Farmers of America moved its headquarters to Kansas City, Kan. Michael VanBuskirk and Chris Robertson of NGZ brokered the sale. A local investor group purchased the asset from BACM 2006-5 North Ambassador Drive LLC.
