Missouri

Midas Hospitality Opens $11M Hampton Inn Hotel in Sikeston, Missouri

by Kristin Harlow September 5, 2018

SIKESTON, MO. — Midas Hospitality has opened a new Hampton Inn hotel in Sikeston in southeastern Missouri. The $11 million project spans 57,000 square feet and four stories. The 92-room hotel features an indoor swimming pool, fitness center, business center and meeting rooms. The hotel is located within the 100-acre Cotton Ridge development, which will include restaurants, a movie theater and other retail tenants. Midas Hospitality will own and manage the hotel. Sister company MC Hotel Construction was the general contractor for the project. Gray Design served as the architect. Bank of Missouri financed the project. Hampton Inn is part of the Hilton chain of hotels.

September 5, 2018

Development Midwest Missouri Office

HDA Architects Designs New Headquarters for ADB Cos. in Pacific, Missouri

by Kristin Harlow September 4, 2018

PACIFIC, MO. — HDA Architects has designed a new corporate headquarters for ADB Cos. in Pacific, about 35 miles west of St. Louis. ADB is part of the Keeley family of companies, which also includes a construction arm and development group. The project consists of a 36,852-square-foot office building and a 24,137-square-foot maintenance building. Plans call for a two-story lobby entrance and a lounge space. Completion of construction is slated for December.

September 4, 2018

Development Midwest Missouri Multifamily

Tarlton Completes $28M Apartment Conversion Project in St. Louis

by Kristin Harlow August 30, 2018

ST. LOUIS — Tarlton Corp. has completed a $28 million renovation of two historic buildings that formerly housed Shriners Hospital for Children and Central Institute for the Deaf in St. Louis. The general contractor converted the adjacent buildings into a 160-unit apartment property known as The Core Apartment Residences. Amenities include common kitchens, a community room, game room, media lounge, fitness center and music practice space. The scope of work included restoring the existing masonry facade, window repair or replacement, installation of new mechanicals, plumbing, electrical systems and fire protection, paving and landscaping. The Shriners and CID buildings, both of which originally opened in the 1920s, are listed on the National Register of Historic Places. BOBB was the developer and Lawrence Group served as the project architect.

August 30, 2018

Civic Development Midwest Missouri

Soldiers Memorial Military Museum in St. Louis Undergoes $30M Renovation

by Kristin Harlow August 27, 2018

ST. LOUIS — The Missouri Historical Society is nearing completion of a $30 million renovation of the Soldiers Memorial Military Museum in downtown St. Louis. Wiegmann Associates has completed work on the HVAC system and provided design services to KAI, the mechanical engineer of record, to reduce equipment costs and develop an energy-efficient system that protects historical exhibits. BSI Constructors is the general contractor for the project. The museum’s lower level was refurbished to increase exhibition space and the second floor has been converted into office space and meeting rooms. President Franklin D. Roosevelt dedicated the memorial site in 1936 and the museum opened in 1938. A reopening is currently scheduled for Nov. 3.

August 27, 2018

Development Midwest Missouri

Tarlton to Renovate The Muny Outdoor Musical Theater in St. Louis

by Kristin Harlow August 23, 2018

ST. LOUIS — Tarlton Corp. is serving as construction manager for renovations to The Muny, an outdoor musical theater in St. Louis. Public fundraising efforts have raised $100 million for capital improvements and ongoing maintenance of the 11.5-acre property. The scope of the work, which is currently underway, includes rebuilding and revamping the century-old stage. A new revolving platform will help move sets and actors more efficiently. A new climate-controlled orchestra pit will accommodate musicians. Tarlton will construct a full basement, new electrical and mechanical systems, new elevators, restrooms, locker rooms and general storage spaces. H3 Architects is the project architect. The project is slated for completion prior to the start of The Muny’s 2019 season. The Muny is a non-profit 501(c)3 organization.

August 23, 2018

Acquisitions Midwest Missouri

Parking REIT Sells Two Adjacent Surface Lots in Kansas City for $4M

by Kristin Harlow August 21, 2018

KANSAS CITY, MO. — The Parking REIT Inc. has sold two adjacent surface parking lots in Kansas City for a combined price of $4 million. The sale included 1130 Holmes St., a 1.2-acre lot with 164 spaces; and 1101 Cherry St., a half-acre lot with 84 spaces. Block 66 LLC acquired the assets. The Parking REIT, formerly known as MVP REIT II Inc., had acquired the surface lots for approximately $2.8 million in December 2017.

August 21, 2018

Acquisitions Midwest Missouri Multifamily

L5 Investments, BH Equities Acquire 300-Unit Apartment Community in Suburban St. Louis

by Kristin Harlow August 20, 2018

CHESTERFIELD, MO. — L5 Investments and BH Equities have acquired Schoettler Village Apartments in Chesterfield, a western suburb of St. Louis. The purchase price was not disclosed. The new ownership plans to embark on an $8.4 million capital improvement program over the next three years to upgrade unit interiors. Built in 1978 and located at 15480 Elk Ridge Lane, the property is situated on 26 acres and includes 46 three-story buildings. There are 255 two-bedroom units and 45 three-bedroom units. Community amenities include a business center, pool, clubhouse, fitness center, fenced dog park, playground and picnic areas. Andrea Kendrick and Ken Aston of Berkadia brokered the transaction on behalf of the buyers and the undisclosed seller.

August 20, 2018

Loans Midwest Missouri Retail

NorthMarq Arranges $3M Refinancing for Retail Building in Missouri

by Kristin Harlow August 7, 2018

HOLLAND, MO. — NorthMarq Capital has arranged a $3 million loan for the refinancing of a retail building occupied by D&W Fresh Market in Holland in southeastern Missouri. The 62,139-square-foot retail property is located at 50 Douglas Ave. Susan Branscome of NorthMarq arranged the 20-year loan, which is fully amortized. A life insurance company provided the loan.

August 7, 2018

Acquisitions Midwest Missouri Retail

Block & Co. Acquires Retail Property in Kansas City, Plans Redevelopment

by Kristin Harlow August 6, 2018

KANSAS CITY, MO. — Rainbow 73 Wornall LLC, a local investment group headed by David Block of Block & Co. Inc. Realtors, has acquired a retail building and .58-acre land site in Kansas City for an undisclosed price. Pride Cleaners currently occupies the 3,000-square-foot building, which is located at 7300 Wornall Road. Block & Co. plans to redevelop the site as a multi-tenant retail center or freestanding restaurant. Pride Cleaners plans to relocate to the corner of 75th Street and Wornall Road. David Block and Marshal Blount of Block & Co. brokered the sale. SNSC Properties LLC was the seller.

August 6, 2018

Acquisitions Midwest Missouri Multifamily

Ridgehouse Capital Acquires Apartment Building Near St. Louis University for $8.4M

by Kristin Harlow August 2, 2018

ST. LOUIS — Ridgehouse Capital has acquired PW Shoe Loft Apartments in midtown St. Louis for $8.4 million. The property features 34 lofts and is located at 3433 Locust St. adjacent to St. Louis University. The property is fully occupied. Bobby Mills, Mike Hanrahan and Paul Hilton of Cushman & Wakefield represented the seller, PW Shoe Lofts LP.

August 2, 2018

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