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.
KIRKWOOD, MO. — Hanley Investment Group Real Estate Advisors has brokered the sale of Kirkwood Square near St. Louis for $8.2 million. Built in 2017, the 15,944-square-foot retail center is situated on 1.3 acres on Manchester Road in Kirkwood. Mercyhealth Family Medicine, Mercy-GoHealth Urgent Care, AT&T, Treats Unleashed and Sport Clips fully occupy the property. Jeff Lefko and Bill Asher of Hanley, along with Kevin Shapiro of L3 Corp., represented the seller, Kirkwood Square LLC. Steve Maynard of Maynard Group represented the buyer, a Los Angeles-based private investor.
ST. LOUIS — Tremont Mortgage Trust has provided a $29.5 million bridge loan for the acquisition of a three-building office portfolio in St. Louis. The portfolio includes West Park I, West Park II and Pine View Point. The buildings span a total of 299,000 square feet. The three-year, floating-rate loan includes a future funding allowance of $3.1 million for property improvements and leasing capital. The loan-to-value ratio is 71 percent. The borrower was not disclosed.
FENTON, MO. — Keystone Construction has completed the renovation of UniGroup’s headquarters in Fenton. UniGroup, the parent company of multiple transportation-related companies, is offering excess office space for lease. The campus totals approximately 450,000 square feet and is situated near the interchange of I-270 and I-44. The multi-million dollar renovation included upgrades to the HVAC system, roof, façade, windows, workout facility and cafeteria. Keystone Construction served as contractor and ACI Boland was the architect. NAI DESCO has been hired to market the 50,000-square-foot vacant space at One Premier Drive.
MARYLAND HEIGHTS, MO. — World Wide Technology Inc. has purchased a 207,503-square-foot industrial building in Maryland Heights for an undisclosed price. The global IT services company has occupied space within the multi-tenant building since 2011. The building, located at 687 Fee Fee Road, is adjacent to the company’s suburban St. Louis campus and less than one mile from its newly built headquarters. The building’s other tenant, Cowley Distributing Inc., is a book and magazine distributor that occupies 50,295 square feet for its warehousing needs. Erik Foster, Mike Wilson, Tim Convy and Steve Stradal of Avison Young represented the seller, Fee Fee Investments.
FENTON, MO. — Two new tenants have signed industrial leases totaling just under 100,000 square feet at Fenton Logistics Park in Missouri. Skin Specialty Solutions Inc. has leased the remaining 48,080 square feet in Fenton Logistics Park I. The first speculative building within the park totals 159,950 square feet. The online skincare company expects to move into its space in February 2019 and create 100 new jobs. Nexius Solutions Inc. has leased 51,772 square feet within Fenton Logistics Park III. The 169,543-square-foot building is now 77 percent leased. The technology company plans to occupy the space in February 2019 and create 50 new jobs. Jon Hinds and Katie Haywood of CBRE represented the landlord, US Capital Development, in both lease transactions. Hal Ball of Hiliker Corp. represented Skin Specialty Solutions, while Jeff Hawley and Brandon Duncan of Block Hawley represented Nexius Solutions. Fenton Logistics Park is a $250 million redevelopment of the former Chrysler plant in Fenton, Mo. Upon full build-out, the development will span 2.5 million square feet.
GLADSTONE, MO. — KCP Acquisition LLC has purchased the Northland Innovation Campus in Gladstone, a northern suburb of Kansas City. The purchase price was not disclosed, but the Kansas City Business Journal reports that the property was valued at $20 million as of March 2017. The Class A building features collaborative office space and an education center. The five-story, 86,778-square-foot office building is 92 percent leased to the North Kansas City School District, Northwest Missouri State University and Edward Jones. Gary Carr, Gina Anderson and Robert Hill of CBRE represented the seller, Gladstone Capital LLC.
LEE’S SUMMIT, MO. — Marcus & Millichap has arranged the sale of Summit Oak, a 94-unit apartment property in Lee’s Summit, for $5.4 million. The property is located at 805 SW Mill St. and consists of eight buildings on nearly six acres. The unit mix includes 20 one-bedroom, 54 two-bedroom and 20 three-bedroom units. Bradley Barham and Max Helgeson of Marcus & Millichap represented the undisclosed buyer and seller.