KANSAS CITY, MO. — MOD Pizza has leased three 3,000-square-foot locations in the greater Kansas City metro. The new restaurants will be located at 1937 Foxwood Drive in Raymore; 5315 NE Antioch Road in North Kansas City; and 1112 NE Coronado Drive in Blue Springs. All three leases are for 10 years. MOD Pizza currently has over 200 locations nationally, and makes artisan style pizzas and salads. David M. Block and Mark McConahay of Block & Co. Inc. Realtors negotiated the lease transactions on behalf of the tenant.
RAYTOWN, MO. — Block & Co. Inc. Realtors has brokered the sale of three shopping centers in Raytown, about 10 miles southeast of Kansas City, for $4.9 million. The centers are located at 5200-5254 Blue Ridge Blvd., 6204-6240 Raytown Trafficway and 6215-6249 Blue Ridge Blvd. The centers are all nearly 100 percent occupied. 1340 East 9th Street Realty Corp. purchased the properties from Monopoly Acquisitions. Bill Maas and Jay Friedman of Block & Co. brokered the sale on behalf of the seller. Block & Co. will continue to handle leasing on behalf of the new owner for the shopping center located at 6204-6240 Raytown Trafficway.
JENNINGS, MO. — Store Here Self Storage has acquired a climate-controlled, self-storage facility in Jennings, about 10 miles north of St. Louis. The purchase price was not disclosed. The multi-story building, located at 8319 Jennings Station Road, was formerly a Schnuck’s grocery store before being converted into a self-storage facility in 2016. The building consists of two loading docks and 600 self-storage units, and a total net rentable area of 64,315 square feet. Steve Mellon and Brian Somoza of JLL represented the seller, Jennings Storage Solutions LLC.
CHESTERFIELD, MO. — Berkadia has arranged the sale of and financing for Watermark at Chesterfield Village, a 12.7-acre multifamily site located in Chesterfield. Watermark Residential purchased the land site with plans to complete construction in late 2018. The property will be located at the southwest corner of Chesterfield Parkway and Lydia Hill Drive. Sachs Properties was the seller. Kenneth Aston and Andrea Kendrick of Berkadia completed the land sale on behalf of the buyer. Kevin Kozminske and Michael Duggan of Berkadia arranged the financing, securing a $52 million loan through Simmons Bank.
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.