KANSAS CITY, MO. — Block & Co. Inc. Realtors has negotiated the sale of Two Ten Center in North Kansas City for $2.8 million. The 15,057-square-foot shopping center is located on the northeast corner of I-29 and Armour Road. The property is 90 percent leased to tenants such as Quiznos, Care ATC, Donut King and Insure One. Max DiCarlo of Block & Co. negotiated the sale on behalf of the buyer, Mariam LLC. Block & Co. will handle leasing and property management for the center.
ST. CHARLES, MO. — Cullinan Properties Ltd. has begun development of a new 60,000-square-foot building at the Streets of St. Charles near St. Louis. The mixed-use building will feature 20,000 square feet of ground-floor retail space and 40,000 square feet of office space. Additional parking is also under construction as part of the project. The building is slated to open in spring 2019. Cullinan Properties is leasing the retail space, while Colliers International is marketing the office space for lease. Architecture firm Oculus Inc. designed the building, and the general contractor for the project is Brinkmann Constructors. The Streets of St. Charles is a 27-acre mixed-use community with retail, dining, entertainment, hospitality, multifamily and office space.
ST. LOUIS — Save-A-Lot has selected a new location in St. Louis for its corporate headquarters. Currently located in Earth City, the supermarket chain is planning to move to The Crossings at Northwest mixed-use development and expand its headquarters workforce by approximately 64 people. The Crossings at Northwest, formerly Northwest Plaza shopping mall, is now home to companies such as Charter Communications, Starbucks and Menards, as well as a wide range of St. Louis County government services. Save-A-Lot has been headquartered in St. Louis for more than 40 years.
KANSAS CITY, MO. — Hunt Mortgage Group has provided a $5 million Freddie Mac small balance loan for the acquisition of Holly Ridge Townhomes in Kansas City. The 54-unit apartment property consists of 27 three-story townhome buildings. Built in 2007, the property is currently 94 percent occupied. The 10-year loan features a 30-year amortization schedule. PI Holly Ridge LLC was the borrower.
ST. LOUIS — A joint venture between Elite Street Capital and Rialto Capital Management has acquired the Lofts at the Highlands in St. Louis for an undisclosed price. The 200-unit apartment property is situated on 2.8 acres at 1031 Highlands Plaza Drive. Completed in 2006, the property features units that average 1,233 square feet. Amenities include a hot tub, grilling area, courtyard, fitness center, business center and recreation room. The complex was 95 percent occupied at the time of sale. Matthew Lawton, Sean Fogarty, Marty O’Connell and Wickliffe Kirby of HFF marketed the property on behalf of the seller, KBS Legacy Partners Apartment REIT Inc., which is a public, non-traded real estate investment trust sponsored by KBS Capital Advisors LLC and affiliates of Legacy Partners Residential Realty LLC.
ST. LOUIS — Select Strategies Realty has acquired a five-property retail portfolio in metro St. Louis for an undisclosed price. The portfolio spans 700,000 square feet. The properties are located at 955 Woodcrest Executive Drive, 4650 Lansdowne Ave., 1000 Lemay Ferry Road and 8901 Page Ave. Overall, the portfolio is 97 percent leased to tenants such as The Home Depot, Fresh Thyme Farmers Market, Office Max, Kohl’s, HomeGoods, Dick’s Sporting Goods, Burlington, Hobby Lobby and Planet Fitness. Jeremy Sain of HFF arranged acquisition financing on behalf of the borrower. Prime Finance provided the loan.
ST. LOUIS — Lee & Associates has negotiated the sale of a 672,000-square-foot industrial property in St. Louis for an undisclosed price. The multi-tenant building is located at 4327 Gustine Ave. Herb Feldmann of Lee & Associates represented the buyer, SOA Gustine LLC. Will Mura of CBRE represented the seller, Gustine Avenue LLC.
ST. LOUIS — Confluent Development and Draper and Kramer Inc. are planning to redevelop the former Southwest Bank property in the Reber Place Historic District of St. Louis. Upon completion, the project will be home to a 4,200-square-foot BMO Harris Bank, a 10,000-square-foot Walgreens and a 2,700-square-foot space for an additional retailer. Completion is slated for spring 2019. Rosemann & Associates is serving as the project architect.
KANSAS CITY, MO. — Windsor Aughtry Hotel Group has begun development of a Hampton Inn and Suites by Hilton in Kansas City. The 132-room, seven-story hotel will be located at 1571 Main St. Designed by McMillan Pazdan Smith Architecture, the hotel will include a Starbucks on the ground floor. Crossland Construction Co. is the general contractor and Hospitality America Inc. will manage the property. Completion is slated for early 2019. This is Windsor Aughtry’s first hotel in the Midwest.
PEVELY, MO. — Mumford Co. has arranged the sale of a Super 8 hotel in Pevely, about 29 miles south of St. Louis. The sales price was not disclosed. The three-story hotel features an indoor pool. George Arvanitis and Justin Pinkard of Mumford Co. represented the seller, Faiz Awana LLC. Investment Property Exchange Services Inc. purchased the asset.
