KANSAS CITY, MO. — Newmark Zimmer has arranged the sale of a 340,000-square-foot office building in Kansas City’s central business district for an undisclosed price. AT&T formerly occupied the property, which is located at 500 E. 8th St. and now sits vacant. Michael VanBuskirk, Chris Robertson, John Hoefer and Raegen Root of Newmark represented the seller, Maxus Properties. The buyer, Washington, D.C.-based The Bernstein Cos., plans to convert the building into apartments.
ST. CHARLES, ILL. — Marcus & Millichap has brokered the sale of Fox Run Apartments in St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. The 220-unit apartment complex was built in 1971 and underwent a renovation program in 2008. Amenities include a pool, 342 parking spaces and four laundry facilities. Roughly 95 percent of the units feature updated kitchens, bathrooms and flooring. Ryan Engle, Andrean Angelov and Zack Mahoney of Marcus & Millichap represented the seller and procured the buyer, neither of which were disclosed.
CRESTWOOD, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate, an investment fund sponsored by Harbert Management Corp., has acquired a four-building industrial portfolio in the Chicago suburb of Crestwood for an undisclosed price. The portfolio spans 131,733 square feet and is 88 percent leased to 19 tenants. The buildings were constructed between 1989 and 1991. Walter Murphy of Lee & Associates represented the undisclosed seller.
WAUKEGAN, ILL. — Nonprofit developer Over the Rainbow (OTR) has selected McShane Construction Co. to build Kirwan Apartments, a 24-unit affordable housing community in Waukegan. The project is designed to enable adults with physical disabilities to live independently. The development is named for Leo Kirwan, an OTR board member and advocate for accessible housing. The three-story building will feature one-bedroom residences, and amenities will include a community room, laundry facilities and 20 parking spaces. Completion is slated for January 2023. Weese Langley Weese Architects is providing architectural services. OTR apartments are specifically designed for low-income individuals with physical disabilities and come with rental subsidies.
LENEXA, KAN. — Martin City Pizza and Taproom will open at the Hampton Building within Lenexa City Center in Kansas. The brewery and restaurant, which is slated to open in late spring or early summer, will span more than 6,000 square feet and feature an outdoor patio. Martin City has three other locations in Martin City, Lee’s Summit and Mission Farms. Copaken Brooks owns Lenexa City Center, which will consist of office, retail and residential space upon full buildout. Erin Johnston of Copaken Brooks represented ownership on an internal basis.
DALLAS — Dallas-based SRS Real Estate Partners has negotiated the sale of a portfolio of eight single-tenant properties occupied by Fresenius Medical Care for $56.5 million. The properties, which total more than 94,000 square feet, are located in Virginia, New York, Ohio, Texas, Georgia and Missouri. Matthew Mousavi, Patrick Luther and Stephen Sullivan of SRS represented the seller, Kingsbarn Realty Capital. The buyer was undisclosed. Fresenius provides products and services for individuals with renal diseases.
MINNEAPOLIS — Walker & Dunlop has arranged the sale of five Class A seniors housing communities in Minneapolis. Minnetonka-based Roers Cos. developed the communities, which Walker Methodist and Jaybird Senior Living operate. The communities opened between 2018 and 2021. The portfolio consists of 567 independent living, assisted living and memory care units. The buyer, an affiliate of Lone Star Funds, will utilize Grace Management to oversee daily operational responsibilities. The sales price was not disclosed. Alex Vice, Joshua Jandris, Brett Gardner and Mark Myers of Walker & Dunlop provided advisory services and facilitated the disposition of the portfolio.
COLUMBUS, OHIO — Mid-America Real Estate Corp. has brokered the sale of Market at Stelzer in Columbus for an undisclosed price. Giant Eagle anchors the 116,707-square-foot shopping center. Other tenants include Subway, Wingstop, WellNow Hometown Urgent Care, El Rodeo Mexican restaurant, The UPS Store and Marco’s Pizza. Joe Girardi and Emily Gadomski of Mid-America, along with Andrew Montooth of Newmark, represented the seller, Continental Real Estate Cos. The asset sold to a private buyer.
CHICAGO — Axiom Consulting Partners has expanded its office lease at 200 West Adams in Chicago’s central business district. The firm committed to a 19,954-square-foot lease, which marks a 10,000-square-foot expansion from the current space. Tony Karmin of Colliers and Michael Marrion of Cresa represented Axiom, which advises senior leaders of Fortune 500 and major professional firms on revenue growth opportunities and strategies. Completed in 1985 and renovated in 2017, 200 West Adams is a 30-story office tower.
LENEXA, KAN. — Topcoat Nail Bar has opened at The District at Lenexa City Center in Kansas. Topcoat’s new space spans 2,000 square feet and is located on the south side of City Center Drive. Topcoat provides a full suite of nail and waxing services. Erin Johnston of Copaken Brooks represented ownership on an internal basis. When fully developed, Lenexa City Center will consist of more than 2 million square feet, including civic components for the City of Lenexa; nearly 1 million square feet of office and retail space; and 375 residential units.
