KANSAS CITY, MO. — Block & Company Realtors has brokered the sale of Wornall Plaza, a shopping center located at 7960-7970 Wornall Road in Kansas City. Solar Success acquired the property from Wornall Plaza 91 LLC for $2.1 million The 13,320-square-foot center is fully occupied by Sherwin-Williams Paints, Papa John’s Pizza, 9Round Boxing, Cricket Wireless and 5th Avenue Cleaners. Dimitri Rodopoulous of Block & Company represented the seller in the transaction.
KANSAS CITY, MO. — Cushman & Wakefield has brokered the $5.7 million sale of a 207,421-square-foot office building in downtown Kansas City. Stencil Group sold the Executive Plaza Office Building, more commonly known as The Flashcube, to Worcester Investments. HOK designed the facility, which was built in 1974. The buyer plans to convert the building into a 181-unit residential property, a project expected to cost $43 million. The property is located at 710-720 Main St., and the sale included an adjacent surface parking lot.
LEE’S SUMMIT, MO. — A joint venture between BIG Shopping Centers USA and RED Development has acquired Summit Fair, a 516,268-square-foot shopping center, for an undisclosed price. Located 25 miles southeast of Kansas City in Lee’s Summit, Summit Fair is anchored by Macy’s and JCPenney. Other tenants in the open-air lifestyle center include Victoria’s Secret, Chico’s, Francesca’s and LOFT. Summit Fair boasts approximately 50 tenants. Along with the news of the acquisition, the joint venture also announced a 50,000-square-foot DICK’S Sporting Goods and a 20,000-square-foot H&M will open at Summit Fair in spring 2017. DICK’S Sporting Goods will relocate to Summit Fair from its existing store currently open at RED’s sister property, SummitWoods Crossing. An additional 5,000 square feet of space is available in the H&M building. “Summit Fair is already a dynamic, high-performing retail property serving a vibrant market, and the addition of DICK’S Sporting Goods, H&M and other top-drawing retail concepts sets the stage for continued success,” says Mike Ebert, managing partner at RED Development. The joint venture, known as BIG RED Portfolio LLC, has a portfolio consisting of 10 retail assets totaling over 3.5 million square feet in four states. Within the joint venture, BIG USA, acts primarily as a co-investment …
SUNSET HILLS, MO. — Senior Lifestyle Corp. has broken ground on The Sheridan at Laumeier Park, a 69,000-square-foot seniors housing community in Sunset Hills, approximately 15 miles southwest of St. Louis. The project, expected to be complete in early 2017, will feature 43 assisted-living apartments plus 41 memory care residences. The Sheridan at Laumeier Park will be situated on 3.9 acres at 12470 Rott Road. Residents will have access to nearly 38,000 square feet of amenity space, which will include living rooms, a dining room, entertainment room, fitness center and art studio.
ST. LOUIS — Lawrence Group has started construction of City Foundry Saint Louis at Cortex, a $340 million mixed-use redevelopment. The building was the former site of the Federal Mogul Foundry in St. Louis, and environmental remediation work on the property is underway. The first phase of the project will include 48,000 square feet of restaurant and food hall space with approximately 20 food stalls and up to four full-service restaurants; 124,000 square feet of creative office space; 133,000 square feet of retail space accommodating up to 45 retailers; a 511-car parking garage in addition to surface spaces; a connector trail to the Great Rivers Greenway Trail System; and amenities such as public plaza spaces, bike sharing, electric recharging stations and a dedicated ride sharing drop-off. The Cortex District is a 200-acre section of Midtown St. Louis centered around several research and technology buildings. A nonprofit joint venture between Washington University in St. Louis, BJC Healthcare, University of Missouri – St. Louis, St. Louis University, and the Missouri Botanical Garden operates the district. “The City Foundry Saint Louis redevelopment represents another example of the continued investment and expansion of the Cortex brand. This will be a tremendous amenity to the …
LIBERTY, MO. — Senior Living Investment Brokerage has arranged the $2 million sale of an undisclosed skilled nursing facility in the Kansas City suburb of Liberty. The facility is currently vacant, having been closed by the Centers for Medicare & Medicaid Services in 2015. It was built in 1992 and features 143 beds. The buyer is a private equity group that partnered with a regional operator. Matthew Alley, Patrick Byrne and Toby Seifert of Senior Living Investment Brokerage arranged the transaction.
KANSAS CITY, MO. — MIRASON Properties LLC has begun renovations on the 40,200-square-foot Watts Mill Shopping Center in Kansas City. Located at the corner of 103rd Street and State Line Road, the shopping center features tenants such as Jasper’s Italian Restaurant, Ugly Joe’s Bar & Grill and Goodyear Tires. Updates to the center will include a new façade, architectural elements, LED lighting, landscaping, signage and a restriped parking lot. Block & Company Inc. oversees management and leasing for the property. The project is slated for completion this October.
ST. LOUIS — A joint venture between AFL-CIO Building Investment Trust and Balke Brown Transwestern has broken ground on Encore at Forest Park, a $51 million, 247-unit apartment property. The five-story building will offer studio, one-, two- and three-bedroom apartments. Community amenities will include a pool, parking garage and fitness center. The apartment building will be the final phase at The Highlands at Forest Park, a mixed-use development. Encore at Forest Park will be situated on three acres at 5700 Highlands Plaza Drive.
KANSAS CITY, MO. — CBRE has brokered the sale of two office buildings in Kansas City in separate transactions. In the first deal, Highwoods Properties Inc. sold an 82,365-square-foot building to Price Brothers Development Co. for an undisclosed price. Park Plaza is located at 801 W. 47th St. In the second deal, a joint venture between Highwoods Properties Inc. and an investment group led by Angelo Mariani sold a 265,000-square-foot, Class A building to Stanton Road Capital LLC. Plaza West, located at 4600 Madison Ave., is currently 91 percent leased. Gina Anderson and Gary Carr of CBRE represented the seller in both transactions. The sales price in both transactions was undisclosed.
KANSAS CITY, MO. — McCarthy Building Companies Inc. will complete a $14.5 million renovation for the University of Missouri-Kansas City (UMKC). The project will modernize 75,000 square feet of laboratory space in the Spenser Chemistry and Biological Sciences Building, which was originally constructed in 1968. The facility was last renovated in the 1980s. Construction will begin this December, and the project is slated for completion by July 2018.
