BELTON, MO. — An 82-room Fairfield Inn & Suites hotel has opened in Belton, about 20 miles south of Kansas City. Located just north of Highway 58 between Mullen Road and I-49, the four-story property features complimentary Wi-Fi, meeting rooms, free parking and electric car charging stations. Other amenities include a fitness center, indoor swimming pool and valet laundry. The hotel will operate as a Marriott franchise, owned and managed by Kansas Hospitality Management Services.
O’FALLON, MO. — Colliers International has brokered the sale of a 37,500-square-foot industrial building in O’Fallon, about 37 miles northwest of St. Louis. The sales price was undisclosed. Permian Plastics, a manufacturer of plastic injection molding, occupies the property, which is located at 1477 Hoff Industrial Drive. Chad Burkemper, Joseph Hill and Geoff Orf of Colliers represented the seller, Permian Holdings Inc. The buyer was GK2-Hoff LLC.
ST. LOUIS — Marcus & Millichap has arranged the sale of a 26,894-square-foot industrial building in St. Louis for an undisclosed price. The property sits on 3.9 acres at 373 Marshall Ave. It was built in 2005 and expanded in 2016. ICL North America Inc., a chemical and fertilizer company, occupies the building. Adam Abushagur and Tyler Sharp of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The duo also secured the private buyer.
FENTON, MO. — JLL has arranged the sale of Gravois Place in Fenton, about 20 miles southwest of downtown St. Louis, for an undisclosed price. The 86,931-square-foot retail center is fully leased and anchored by Gold’s Gym. Situated at 635 Gravois Road, the property is also home to SkyZone Trampoline Park and St. Vincent DePaul. Aaron Johnson, Chris Murphy, Ross Crawford and Danny Kaufman of JLL marketed the property on behalf of the seller, RBR Real Estate Holdings LLC. Mark Sher of KW Commercial represented the undisclosed buyer.
CHESTERFIELD, MO. — NorthMarq has arranged a $12 million loan for the refinancing of Hilltown Village Center in Chesterfield, a western suburb of St. Louis. Anchored by Schnucks grocery store, the 141,889-square-foot retail center is located at 101 Hilltown Village Center. Jeff Chaney of NorthMarq arranged the 15-year, fixed-rate loan on behalf of the borrower, RIJO Inc. A life insurance company provided the loan, which is amortized over 25 years.
ST. LOUIS — NorthMarq has arranged a $3.5 million loan for the acquisition of Balmoral Plaza in St. Louis. The two-story property comprises 12,720 square feet of office space above 12,020 square feet of retail space. It is located at 443-465 N. New Ballas Road. Jeffrey Chaney of NorthMarq arranged the 10-year, fixed-rate loan on behalf of the borrower, Cape-Jackson SLB LP. A life insurance company provided the loan.
HAZELWOOD, MO. — Panattoni Development is developing two new industrial buildings at Aviator Business Park in Hazelwood. Construction is underway on the speculative buildings, which will total 640,182 square feet. Aviator 8 will span 224,089 square feet and Aviator 9 will measure 416,093 square feet. Both buildings are slated for completion in summer 2020. The Class A distribution facilities will feature clear heights of 32 feet and can be occupied by a single tenant or divided into spaces as small as 38,000 square feet. Aviator Business Park, located one mile north of St. Louis-Lambert International Airport, is served by Norfolk Southern Railroad. The park is 90 percent leased to tenants such as International Foods, Weekends Only and Silgan Plastics. Katie Haywood and John Frith of CBRE will market the properties for lease on behalf of Panattoni. St. Louis-based Kadean Construction is the general contractor. Kadean previously constructed buildings 3, 4, 7 and 10 in Aviator Business Park.
BELTON, MO. — Quantum Real Estate Advisors Inc. has brokered the $5.4 million sale of a 55,000-square-foot property occupied by Hobby Lobby in Belton, about 20 miles south of Kansas City. The single-tenant building is located at 520 E. Markey Parkway. Hobby Lobby has approximately 12 years remaining on its lease. Dan Waszak and Zack Hilgendorf of Quantum represented the seller, a Kansas City-based developer. A California-based investment fund purchased the asset.
CAPE GIRARDEAU, MO., CARUTHERSVILLE, MO., AND NEW CUMBERLAND, W.V. — VICI Properties Inc. (NYSE: VICI), a New York City-based REIT that specializes in casinos, has acquired three such properties in Missouri and West Virginia. Eldorado Resorts Inc. sold the assets for $278 million in an all-cash deal. In Missouri, Isle Casino Cape Girardeau is located in Cape Girardeau in the southern part of the state, while Lady Luck Casino is a riverboat casino in Caruthersville, located even further south near the Tennessee-Missouri border. Both cities are situated along the Mississippi River. In West Virginia, Mountaineer Casino, Racetrack & Resort is in New Cumberland, a city situated along the Ohio River in the northern part of the state. Isle Casino opened in 2012 and features 41,500 square feet of casino space, three dining venues, a pavilion and an entertainment center. Lady Luck opened 1995 and consists of a dockside casino spanning 21,500 square feet, two restaurants and a 40,000-square-foot pavilion. Mountaineer opened as a racetrack and resort in 1951. The casino debuted in 1994 and offers a 357-room hotel, five dining venues, 1,486 gaming machines and 36 table games. VICI Properties has also entered into an agreement with Colorado-based Century Casinos …
ST. LOUIS — Chesapeake Hospitality has opened an 88-room Hotel Indigo in downtown St. Louis. Located at 501 Olive St., the boutique hotel property features a restaurant, rooftop bar and event spaces. The project involved the redevelopment of the former LaSalle Building, an office building dating back to the early 1900s. Each guest room pays homage to the building’s history and location within its décor. Guests have access to mini-refrigerators, complimentary Wi-Fi and USB charging ports.
