Missouri

NGZ Brokers Sale of Historic 32,624 SF Office Building in Kansas City, Missouri

by Kristin Harlow November 15, 2017

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has brokered the sale of a historic, 32,624-square-foot office building in downtown Kansas City. The sales price was not disclosed. Originally constructed in 1903, the property is located at 908 Broadway Blvd. Google Fiber is the anchor tenant and occupies more than 23,000 square feet. Kansas City-based ER Marketing also occupies a full floor. After a full-floor lease to Coury Hospitality, the property is now fully leased. Michael VanBuskirk and Chris Robertson of NGZ brokered the sale on behalf of the seller, a California-based private investor group. A Colorado-based private investor purchased the property.

November 15, 2017

Industrial Midwest Missouri

Lanter Distributing Signs 126,000 SF Industrial Lease at SubTropolis in Kansas City, Missouri

by Kristin Harlow November 13, 2017

KANSAS CITY, MO. — Lanter Distributing LLC has signed a 126,000-square-foot industrial lease to consolidate its regional operations into a single warehouse at SubTropolis in Kansas City. The provider of freight consolidation, pool distribution and less-than-truckload deliveries for food, pharmaceutical and health and beauty manufacturers initially leased 21,000 square feet at the underground business complex in 2012. Eight 3PL companies have located in SubTropolis to date, including Advanced Logistics Fulfillment, American Central Transport, FW Warehousing, Ground Freight Expeditors, Hallmark Cards, Paris Brothers and Rossi Motor Freight. Hunt Midwest owns the 6 million-square-foot property.

November 13, 2017

Industrial Midwest Missouri

Fairlane Industry Signs 91,000 SF Industrial Lease Renewal in St. Louis

by Kristin Harlow November 10, 2017

ST. LOUIS — Fairlane Industry Inc. has signed a 91,000-square-foot industrial lease renewal in St. Louis. The property is located at 5033 Southwest Ave. The gasket manufacturer plans to consolidate its other two St. Louis locations into the Southwest Avenue property. H. Meade Summers III of Hilliker Corp. represented the landlord, Van Velzer LLC, in the lease transaction. Ray Ragland, owner of Fairlane Industry, leased the property.

November 10, 2017

Healthcare Midwest Missouri

Bamboo Equity Partners Acquires 52,000 SF Medical Office Building in Sunset Hills, Missouri

by Kristin Harlow November 6, 2017

SUNSET HILLS, MO. — Bamboo Equity Partners has acquired a 52,000-square-foot medical office building in Sunset Hills, about 15 miles southwest of St. Louis. The building, located at 10777 Sunset Office Drive, is 91 percent occupied. Tenants include Mercy Hospitals, SSM and Sisters of St. Joseph. Bamboo plans to renovate the property, built in 1978, to improve common areas used by patients and healthcare providers. Bamboo Micro Opportunity Fund I LP was the entity used to acquire the property. The seller was not disclosed.

November 6, 2017

Hospitality Illinois Loans Midwest Missouri Wisconsin

Aries Conlon Capital Arranges $62.4M Refinancing for Hotel Portfolio

by Kristin Harlow October 31, 2017

CHICAGO — Chicago-based Aries Conlon Capital has arranged a $62.4 million non-recourse loan for the refinancing of a seven-hotel portfolio in seven states. The portfolio, owned by Inner Circle Investments, includes six Radisson hotels, which are located in Cromwell, Conn.; Billings, Mont.; Highpoint, N.C.; Albany, N.Y.; Appleton, Wis.; and Cheyenne, Wyo; as well as one independent, boutique hotel in St. Louis. Rushi Shah of Aries Conlon arranged the interest-only loan with an international investment bank. Instead of refinancing its assets as fee-simple properties, Inner Circle split ownership of the land parcels and the hotels into leased-fee and leasehold entities respectively, entered into 99-year leases with its hotels as tenants and then refinanced the land/leased-fee portions at a higher loan-to-value ratio and more attractive terms. Aries Conlon is now refinancing the corresponding leaseholds to effectively close the loop.

October 31, 2017

Industrial Midwest Missouri

Binswanger Brokers Sale of 250,000 SF Industrial Building in Boonville, Missouri

by Kristin Harlow October 31, 2017

BOONVILLE, MO. — Binswanger has brokered the sale of a 250,000-square-foot industrial building in Boonville, about 25 miles west of Columbia. The sales price was not disclosed. The property is located at 2501 Boonslick Drive. Constructed in 1979 with renovations in 1988, the facility features 30-foot clear heights, 14,050 square feet of office space, 22 dock doors, two drive-in doors and parking for 310 vehicles. An individual buyer, Daniel E. Smith, purchased the property with plans to use it for speculative leasing of manufacturing or warehousing uses. Jim Medbery of Binswanger represented the undisclosed seller.

October 31, 2017

Midwest Missouri Office

Franklin Partners Acquires 325,172 SF Office Building in Clayton, Missouri

by Kristin Harlow October 25, 2017

CLAYTON, MO. — Franklin Partners has acquired The Plaza in Clayton, a 325,172-square-foot office building in Clayton, about nine miles west of St. Louis. The purchase price was not disclosed. The 16-story property is located at 190 Carondelet Plaza. Smallwood, Reynolds, Stewart, Stewart designed the building, while St. Louis-based THF Realty developed the property in 2001. Paul Lundstedt, Dan Deuter, Mark Palmer, Artie Kerckoff and TJ Redmond of CBRE represented the seller, KBS REIT.

October 25, 2017

Midwest Missouri Mixed-Use

Cullinan Properties Unveils Plans for Second Phase of Streets of St. Charles in Missouri

by Kristin Harlow October 24, 2017

ST. CHARLES, MO. — Cullinan Properties Ltd. has unveiled plans for the next phase of construction at Streets of St. Charles, which is located about 25 miles northwest of St. Louis. Phase II will include a 60,000-square-foot, three-story building designed to accommodate more retail and office tenants. Construction is slated to begin in spring 2018. The building, located at the northeast corner of Beale and Lombard streets, will incorporate 20,000 square feet of ground-floor retail space and 40,000 square feet of office space. Cullinan Properties will handle leasing efforts for the retail space, while Balke Brown Transwestern will market the office space. Streets of St. Charles, which opened in 2012, features tenants such as Prasino, Tucanos Brazilian Grill, Firebirds Wood Fired Grill, Leopard Boutique, Olivino Tasting Bar and Sole & Blues.

October 24, 2017

Loans Midwest Missouri Multifamily

NorthMarq Arranges $7.6M Refinancing for Apartment Property in Arnold, Missouri

by Kristin Harlow October 23, 2017

ARNOLD, MO. — NorthMarq Capital has arranged a $7.6 million Freddie Mac loan for the refinancing of Richardson Place Apartments in Arnold, about 18 miles south of St. Louis. The 162-unit apartment property is located at 105 Richardson Place Drive. David Garfinkel of NorthMarq arranged the 10-year loan. The borrower was not disclosed.

October 23, 2017

Midwest Missouri Retail

Block & Co. Negotiates $3M Sale of Shopping Center in Lee’s Summit, Missouri

by Kristin Harlow October 16, 2017

LEE’S SUMMIT, MO. — Block & Co. Inc. Realtors has arranged the sale of Chapel Ridge Retail Center in Lee’s Summit for $3 million. The 35,000-square-foot shopping center is located at 3680 Akin Drive. The property is 90 percent occupied by tenants including Total Body Fitness, Allstate Insurance, Foxy Nails, Quilter’s Station, KC Salt Mines and Jimmy John’s. William Glasgow of Block & Co. negotiated the sale on behalf of the seller, Rocky Top Holdings LLC. VAAP Chapel Ridge LLC purchased the property. Block & Co. will continue to handle leasing efforts for the new owners.

October 16, 2017

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