ST. PETERS, MO. — Knoebel Construction Inc. has broken ground on the Shoppes at Mid Rivers in St. Peters. The $54 million project consists of 14 buildings within the 270,000-square-foot shopping center located just north of I-70, about 30 miles northwest of St Louis. Completion is slated for this fall. Confirmed tenants include Academy Sports + Outdoors, Burlington, Ross Dress for Less, Marshalls, HomeGoods, ULTA Beauty, Five Below and Famous Footwear. The property is located across from Mid Rivers Mall, the only regional mall in St. Charles County. GBT Realty Corp. is the developer of the project designed by MJM Architects. Knoebel Construction has divided the work into subprojects with separate management teams in order to complete the center in time for the 2017 holiday shopping season.
KANSAS CITY, MO. — Hunt Midwest has closed on the sale of two hotel sites within Hunt Midwest Commerce Center (HMCC). A 90-room SpringHill Suites by Marriott and a 126-room Holiday Inn Hotel & Suites will be constructed and open on the sites. Both hotels are slated to open in 2018. KMG Hotels will operate the SpringHill Suites by Marriott, which it is developing under the name of Park Hospitality LLC. Elite Hotel Group LLC will own and operate the Holiday Inn Hotel & Suites. HMCC is a 2,500-acre development home to hotels, restaurants and retail stores.
SPRINGFIELD, MO. — Mid-America Real Estate Corp. has brokered the sale of Morris Corners in Springfield in southwestern Missouri. The sales price was not disclosed. The 56,033-square-foot retail center is located at the corner of Battlefield Road and Fremont Avenue. Tenants include Toys “R” Us and Massage Envy. Carly Gallagher and Ben Wineman of Mid-America represented the seller, Ohio-based DDR. A private buyer purchased the property.
BRIDGETON, MO. — McGrath & Associates has completed a $1.3 million renovation of a Montgomery Bank in Bridgeton, about 24 miles northwest of St. Louis. The construction included a redesign of the branch and the addition of an AT&T retail store. McGrath’s renovation of the 5,100-square-foot building included exterior finishes and ACM panels, modern interior finishes, drive-thru lanes and canopy, new HVAC air handlers, and utility services. Verve Design Studio was the architect.
Without a doubt, 2016 was a year to remember for the Kansas City apartment market. Employers, builders, operators and investors all had an eye on the flourishing metropolitan area and contributed to its ongoing strength, leading to a 20-year high for apartment occupancy. But in order to assess if 2017 will be as fruitful, a review of how each of these groups fared in 2016 and an analysis of the current economic climate should be taken into account. Employers A healthy economy underscored by an active employment market generates a cyclical effect whereby employers seek talent, talent seeks housing, and developers seek residents. According to Moody’s Analytics, total nonfarm payroll employment in the Kansas City metropolitan area in 2016 expanded by 1.5 percent following a 1.3 percent increase in 2015. Virgin Mobile USA, to name one active area employer, relocated its corporate headquarters from Warren, N.J., to downtown Kansas City as part of the company’s re-launch of its new brand under Sprint. The long-term location for the new headquarters is undetermined, but temporarily at least 50 new employees now work out of the One Kansas City Place building at 12th and Main streets. By year-end 2017, Berkadia Research projects total …
ST. LOUIS — Bridgetown Trucking has moved its St. Louis warehouse to the Union Seventy Center Business Park. Bridgetown will occupy 22,000 square feet at 3901 Union Blvd. Bridgetown previously occupied 4,000 square feet in Chesterfield. The Union Seventy Center Business Park totals approximately 161 acres. The business park is located between downtown St. Louis and Lambert-St. Louis International Airport. Brendan O’Brien of Hilliker Corp. represented the tenant and the landlord, Union Seventy Center Business Park. Bridgetown focuses on airfreight, flat bed and full truckloads, warehouse storage with pick and pack services, and order fulfillment.
GRANDVIEW, MO. — Colliers International has arranged the sale of an industrial building in Grandview, about 17 miles south of Kansas City. The sales price was not disclosed. The 8,000-square-foot building is located at 12410 S. 71 Highway. John Stafford of Colliers represented the buyer, Vala Properties LLC. The R.H. Johnson Co. represented the seller, TM Grandview LLC.
ROLLA, MO. — McCarthy Building Cos. Inc. has completed construction of the Delbert Day Cancer Institute at Phelps County Regional Medical Center in Rolla in central Missouri. The 37,000-square-foot cancer care facility occupies the first two levels of the new, four-story, 100,470-square-foot building constructed by McCarthy. Located at the north side of the main hospital campus, the $31.3 million building is connected to an adjacent medical office building via a pedestrian bridge.The new facility includes more than 63,000 square feet of medical office space to accommodate future tenants. The institute houses radiation therapies, nuclear medicine, infusion therapy, medical oncology and supporting lab and pharmacy services. To optimize efficiency, the project team employed Lean construction techniques, including the construction of prefabricated mechanical, engineering and plumbing systems, using building information modeling to reduce site waste. McCarthy also used advanced construction technologies such as a semi-automated robotic mason to enhance the efficiency of bricklaying. BSA LifeStructures designed the building.
Nearly all of Kansas City is seeing a significant increase in retail and restaurant construction, with many new development projects now coming to fruition. Several of these new construction projects incorporate apartments and other types of entertainment, office or residential space above first-floor retail. Propelled by the recent opening of the streetcar and new apartment complexes across the city, retail in downtown Kansas City received a lot of leasing attention in 2016, according to CoStar Group. “More people are moving downtown for walkability and a taste of urban living, so retail positioned near the streetcar route or on the ground level of apartment buildings could see more demand,” wrote CoStar in its third-quarter overview of the Kansas City retail market. “In the area running from River Market down to Country Club Plaza, as much space leased in the first three quarters of 2016 as did in all of 2015.” Meanwhile, we are experiencing a number of projects where the traditional, older enclosed malls and retail strip centers are being torn down and redeveloped as mixed-use properties across the Kansas City retail market. Standout submarkets, corridors Annual deliveries in greater Kansas City averaged just over 1 million square feet per year …
An influx of new workers and residents is expected in the Clayton submarket of St. Louis thanks to more than $630 million in office, residential and mixed-use development that is in the planning stages or currently under way. Health insurer Centene Corp. has announced that it will build a new 16-acre, $450 million campus expansion on the east edge of downtown Clayton at Hanley Road, Forsyth Boulevard and Carondelet Plaza. The project, set to break ground early this year, stands to effectively shift the center of Clayton while adding a mixed-use, Class A office-anchored business and lifestyle development to the submarket. Delivery of the 500,000-square-foot Phase I tower is set for late 2019. At the opposite end of the submarket, Koman Group expects to break ground on its proposed 330,000-square-foot, 14-story office and retail project, situated at the corner of Forsyth and Brentwood boulevards. Just across the street is another $68 million, 233,000-square-foot office project likely to begin in 2018. Proposed by Jared Novelly and Apogee Associates, the project would bring the total proposed office development to a robust 1 million square feet of new Class A space in downtown Clayton. As the premier office submarket in St. Louis, Clayton …