ST. LOUIS — The renamed McKnight Place Assisted Living & Memory Care in St. Louis has undergone a $32 million renovation. The project’s first phase included a three-story, 102,000-square-foot expansion featuring 90 apartment units. The second phase included a 74,000-square-foot renovated space with 18 additional assisted living suites and 27 separate memory care suites. Amenities include a main-floor dining room, café bistro, fitness center, chapel, billiard room, beauty salon, art room and greenhouse. The property is located on the 15-acre care campus at The Gatesworth, which now totals more than 1 million square feet of space for seniors. GateCo Development was the general contractor for the project. Greystone provided financing.
ST. LOUIS — S.M. Wilson has begun construction of Phase I of the City Foundry STL mixed-use project in St. Louis. Plans call for the construction and renovation of six buildings, improvements to the 10-acre site and the construction of more than 60 tenant spaces. The $185 million Phase I includes 122,000 square feet of restaurant and entertainment space, 105,000 square feet of retail space and 110,000 square feet of office space. Steve Smith and London-based Caparo are the developers. Lawrence Group is the architect. Tenants are expected to begin opening at the property in mid-2019. The tenants disclosed by the developer include Alamo Drafthouse Theaters, Punch Bowl Social and McNellies Group. The project is the adaptive reuse of the former Century Electric Foundry complex.
FENTON, MO. — Hubbell-Killark, a provider of integrated electrical industrial products, and BASF, a chemical producer, have signed leases at Fenton Logistics Park in suburban St. Louis. Hubbell-Killark will occupy a 160,000-square-foot building, while the agricultural services division of BASF will occupy 80,000 square feet at another building. The tenant spaces are slated for delivery by the end of this year. KP Development has invested nearly $75 million in the development of Fenton Logistics Park at the former Chrysler site. Nearly one-third of the park is now leased.
KANSAS CITY, MO. — Lingerfelt CommonWealth Partners LLC, in a joint venture with CrossHarbor Capital Partners LLC, has acquired a 28-story, 538,741-square-foot office tower in Kansas City. The purchase price was not disclosed. The seller was Franklin Street Partners, according to the Kansas City Business Journal. Gina Anderson, Gary Carr, Robert Hill and Russell Ingrum of CBRE arranged the transaction on behalf of the seller. The Class A property, located at 2345 Grand Blvd., includes a parking garage and an adjacent four-story annex building. Architect Mies van der Rohe designed the property, which was developed by Shorenstein Co. in 1977. Anchored by law firm Lathrop Gage, the tower is approximately 73 percent occupied. Lingerfelt plans to make a capital investment in the building with a renovation of the lobby and common areas, as well as a reconfiguration and renovation of the ground-floor retail portion of the annex building. Upgrades are planned for the fitness center, locker room, conference center and tenant lounge. Commonwealth Commercial Partners, the company’s property management affiliate, will handle all aspects of the day-to-day asset and property management. Miles McCune, Jeff Winters and Travis Helgeson of Cushman & Wakefield will handle the leasing and marketing of the building’s available …
ST. LOUIS — The Cordish Companies, the St. Louis Cardinals and Loews Hotels & Co. have broken ground on the new $65 million Live! by Loews hotel in St. Louis. The hotel will be located inside the second phase of Ballpark Village, a mixed-use development surrounding the Cardinals’ Busch Stadium. The eight-story hotel will feature 216 rooms, including 19 suites. An outdoor terrace will feature a bar called “Gashouse Gang,” a nickname given to the Cardinals baseball team that ultimately won the World Series in 1934. The hotel will also include a wine bar, bourbon bar, second-level terrace bar and open display kitchen. The second level will include 17,000 square feet of meeting and event space. HKS Architects Hospitality Studio designed the hotel. The $260 million second phase of Ballpark Village also features a 29-story apartment tower, a Class A office tower anchored by PricewaterhouseCoopers and a three-story retail pavilion anchored by Onelife Fitness.
KANSAS CITY, MO. — NorthMarq Capital has arranged a $251.3 million Fannie Mae loan for the refinancing of a 12-property multifamily portfolio located in metro Kansas City and Dallas. The portfolio totals 3,165 units. Price Brothers was the borrower, but property names were not disclosed. The 15-year loan features a 30-year amortization schedule. Greg Duvall of NorthMarq’s Kansas City regional office arranged the loan.
ST. LOUIS — McCarthy Building Cos. Inc. has completed a 47,000-square-foot subterranean expansion and renovation of the Museum of the Gateway Arch. This is the final component of a $380 million redevelopment of the monument in downtown St. Louis. McCarthy also oversaw the transformation of the north and south grounds surrounding the Arch. The renovated museum and visitor’s center opened to the public on Tuesday, July 3. A new circular entrance and upper-level lobby replaces the previous underground entrances at the base of each leg of the Arch. The landmark remained open and fully operational throughout the three-year construction project. Cooper Robertson, James Carpenter Associates and Trivers Associates designed the museum expansion. Michael Van Valkenburgh Associates oversaw the landscape design. Gateway Arch Park Foundation and the National Park Service led the Gateway Arch Park redevelopment projects. Built as a monument to the westward expansion of the United States, the 630-foot Arch was completed in 1965.
KANSAS CITY, MO. — Brain Development Group has purchased Belletower, a five-story, 80,615-square-foot office building in Kansas City. The purchase price was not disclosed. The property is located in Country Club Plaza, five miles south of the city’s central business district. The property, built in 1986, includes a 180-space, four-level parking garage beneath the building and an additional 41-space surface parking lot. At the time of sale, Belletower was 67 percent leased to tenants such as MidCountry Bank and Reynolds Law Firm LLC. Two new tenants have since boosted occupancy to 76 percent, according to the Kansas City Business Journal. Amenities include a fitness center and tenant storage. Gina Anderson, Gary Carr and Robert Hill of CBRE represented the seller, Advent Belleview LLC.
BELTON, MO. — Ross Dress for Less is opening a new store at Belton Gateway in Belton, approximately 21 miles south of Kansas City, on July 21. The store will span 22,000 square feet at the shopping center, which is located near I-49. With this new opening, Ross will operate 25 stores in Missouri and a total of 1,435 locations.
ST. PETERS, MO. — GBT Realty Corp. has unveiled new tenants at the Shoppes of Mid Rivers in the suburban St. Louis community of St. Peters. Outback Steakhouse is currently under construction and a Blaze Fast Fire’d Pizza is slated to join the tenant lineup. Other new leases include Nail Lounge, SSM Physical Therapy and Uptown Cheapskate. These tenants are expected to open later this year. Current tenants at the 270,000-square-foot retail center include Academy Sports + Outdoor, HomeGoods, Ross Dress for Less, Marshalls and Ulta Beauty. The property is currently 92 percent leased.