BELTON, MO. — Furniture Deals, a family-owned furniture retailer, has opened a 50,000-square-foot showroom in the North Cass Shopping Center in Belton, located about 21 miles south of Kansas City. Furniture Deals replaces Price Chopper as the anchor tenant of the shopping center. The showroom doubles the size of the company’s original Belton location at 1737 E. North Ave. Founded in 2004, Furniture Deals now employs 100 people and offers a selection of furniture, mattresses and home decor.
ST. LOUIS — Select Strategies Retail Holdings V LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, has purchased a seven-property shopping center portfolio in metro St. Louis for $78.4 million. The 1.1 million-square-foot portfolio is 91 percent leased to tenants such as Aldi, Fresh Thyme Farmers Market, Burlington and Planet Fitness. The properties include Creve Coeur, Kings Highway, LeMay Shopping Center, Gravois Plaza, Kirkwood Crossing, Overland Crossing and Fairview City Centre. Jeremy Sain of HFF represented Select Strategies. The seller was not disclosed.
ST. LOUIS — Developer Propper Construction Services has completed the 1400 Russell Apartments in the Soulard neighborhood of St. Louis. The 130-unit apartment property is located on the site of a former warehouse. Amenities include a rooftop pool, lounge, courtyard, fitness center, business center and concierge services. Monthly rents range from $965 to $3,070. More than 40 percent of the units are leased. Trivers Associates Architects designed the property and Paric Corp. was the general contractor.
KANSAS CITY, MO. — The Opus Group has begun construction on a 256-unit apartment complex in the Westport neighborhood of Kansas City. The development, located at the corner of Westport Road and Broadway Boulevard, will also include 10,000 square feet of ground-level retail space. An array of amenities will feature a pool, fitness center, dog wash station, lounge areas, conference rooms and bike storage. The project is slated for completion in spring 2020. Additional project partners include Central Bank of the Midwest and CTK Real Estate.
KANSAS CITY, MO. — Berkadia has arranged the sale of Plaza East, a garden- and townhome-style apartment community in Kansas City. Located at 1500 E. 46th St., Plaza East is convenient to The Country Club Plaza, Nelson Atkins Museum of Art and The University of Missouri-Kansas City. The 380-unit property was originally constructed in 1950 and has been partially upgraded over the last three years. Brett Meinzer and Michael Sullivan of Berkadia arranged the sale on behalf of a local private partnership. Time Equities Inc. purchased the asset for an undisclosed price.
ST. LOUIS — Pinnacle Real Estate Advisors LLC has brokered the sale of a three-property dollar store portfolio in metro St. Louis for $3.2 million. The portfolio includes a Dollar General store at 7900 Olive St. in University City; a Dollar General store at 10 Fee Fee Road in Maryland Heights; and a Family Dollar store at 9474 Lackland Road in Overland. Zach Wright of Pinnacle’s Edwards | Ethington Team represented the buyer, a Colorado-based investor completing a 1031 tax-deferred exchange. A local real estate company was the seller.
KANSAS CITY, MO. — Hunt Midwest has begun construction of the third building at Hunt Midwest Business Center in Kansas City. Slated to open in March 2019, HMBC Logistics III will span 217,783 square feet with a clear height of 32 feet. The developer has also secured the necessary permits for HMBC Logistics IV, which will span 425,000 square feet with a clear height of 36 feet. The first two buildings at the park are now fully leased to Vanguard Packaging, Great Plains Packaging, Online Labels, Wurth DMB and Voss Lighting.
ST. LOUIS — Knoebel Construction has completed construction of the new $2 million HopCat restaurant and craft beer bar in St. Louis’ Delmar Loop, which is an entertainment and dining district. The 8,580-square-foot restaurant features seating for 245 guests, a draft bar and outdoor beer garden. The project consisted of renovating the existing building while preserving as much of the original structure as possible, including wood beams and exposed brick. Knoebel rebuilt the entire roof structure, upgraded all utilities and removed windows on the second floor in order to install commercial kitchen equipment. BarFly Ventures was the project developer and Cuhaci & Peterson was the architect. HopCat now has 17 locations across the country.
KANSAS CITY, MO. — City Club Apartments (CCA) has broken ground on a project in Kansas City’s Crossroads district, which is located directly south of the downtown loop and known for its art galleries, shops and restaurants. Located at the corner of Main and 20th streets, the seven-story apartment property will include 283 units with 50 different floor plans. Among the amenities will be a rooftop pool, outdoor theater, fitness center, zen garden, bark park and nearly 300 underground parking spaces. CCA has lease commitments with a local restaurant and wine bar, a specialty market and other local retailers. Those tenants will be announced at a later date. The hotel-style lobby will include a lounge, business center and concierge service. Residents are expected to begin moving into the property in the fall of 2019.
KANSAS CITY, MO. —Ross Dress for Less, Petco and Ulta are scheduled to open in the coming months at Twin Creeks Center in Kansas City. The retailer additions are part of a $15 million renovation to the 409,060-square-foot retail center, which is currently anchored by Target and Kohl’s. The expansion will add 200,000 square feet to the property, which is situated on 16 acres. Ulta opened its 10,000-square-foot store earlier this month. Ross is slated to open its 24,946-square-foot store in October, followed by Petco in February 2019. United Development Co. and Falcon Realty Advisors are the property owners. Tom O’Leary and Wes Buckley of Lane4 Property Group are the leasing brokers for the property.
