Missouri

Block & Co. Brokers Sale of 25,490 SF Office Building in Independence, Missouri

by Kristin Harlow August 6, 2019

INDEPENDENCE, MO. — Block & Co. Inc. Realtors has brokered the sale of a 25,490-square-foot office building formerly owned by Commerce Bank in Independence, about 10 miles east of Kansas City. The sales price was not disclosed. The multi-tenant property is located at 300 N. Osage St. Current tenants include Habitat for Humanity and Heritage Physicians Group. Bill Maas of Block & Co. represented the undisclosed buyer. In addition, Maas will handle leasing of the building’s 5,000-square-foot first-floor vacancy. Commerce Bank formerly occupied the space.

August 6, 2019

Development Midwest Missouri Multifamily Seniors Housing

Tutera Opens Tiffany Springs Senior Living Community in North Kansas City

by Kristin Harlow August 1, 2019

NORTH KANSAS CITY, MO. — Tutera Senior Living & Health Care has opened the 172-unit independent living portion of Tiffany Springs Senior Living Community in North Kansas City. The $55 million, 289,000-square-foot property is located at 9101 N. Ambassador Drive. Amenities include a day spa, heated pool, outdoor courtyard, yoga studio, art studio, theater room, chapel, dog park, multiple dining venues, concierge and transportation services. A breezeway connects the property to Tutera’s Tiffany Springs Rehabilitation & Health Care Center, which offers both short-term rehabilitation services and extended stays. The project team included Nearing Staats Prelogar & Jones Architects, BHC RHODES and Luke Draily Construction Co. A grand opening event is scheduled for Thursday, Sept. 26 to showcase the completion of the 89 memory care and assisted living units.

August 1, 2019

Acquisitions Industrial Midwest Missouri

Plymouth Industrial REIT Acquires Two-Tenant Building in St. Louis for $5.4M

by Kristin Harlow July 31, 2019

ST. LOUIS — Plymouth Industrial REIT Inc. (NYSE: PLYM) has acquired a Class B industrial building in St. Louis for $5.4 million. Located in the Hazelwood/Airport submarket with convenient access to I-70, the 129,000-square-foot building is fully leased to two tenants. Motor Service Inc. is an industrial equipment supplier, specialized trucking and airfreight hauler, and warehousing and materials handler. Wellfit Parts International Co. is a customer service collision parts and accessory parts distributor, specializing in parts for luxury vehicles. Boston-based Plymouth focuses on the acquisition and operation of single- and multi-tenant industrial properties.

July 31, 2019

Development Industrial Midwest Missouri

Opus Breaks Ground on 155,000 SF Spec Warehouse in St. Louis

by Kristin Harlow July 30, 2019

ST. LOUIS — The Opus Group has broken ground on a 155,000-square-foot speculative warehouse at Soulard Business Park in St. Louis. Completion is slated for the second quarter of 2020. The development, which will sit on approximately eight acres, will feature a clear height of 32 feet and 24 trailer parking stalls. Patrick Reilly and David Branding of JLL will market the property for lease. Soulard Business Park is a project led by Environment Operations Inc. and involves the redevelopment of a former manufacturing facility.

July 30, 2019

Industrial Loans Midwest Missouri

NorthMarq Arranges $3M Acquisition Loan for Manufacturing Facility in St. Louis

by Kristin Harlow July 25, 2019

ST. LOUIS — NorthMarq has arranged a $3 million loan for the acquisition of the Fort Dearborn Co. building in St. Louis. The manufacturing facility spans 87,507 square feet and is located on 5.8 acres at 6880 Heege Road. Fort Dearborn Co. is a label manufacturer for food and household products. Jeffrey Chaney of NorthMarq arranged the 10-year loan, which features a 20-year amortization schedule. A life insurance company provided the loan. White Co. was the borrower.

July 25, 2019

Acquisitions Midwest Missouri Office

Block & Co. Arranges Sale of 27,350 SF Office Building in Kansas City

by Kristin Harlow July 16, 2019

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of the 8301 State Line Professional Building in Kansas City for an undisclosed price. The three-story office building spans approximately 27,350 square feet and is situated just north of Ward Park Center. Notable tenants at the fully occupied property include the Third and Long Foundation, Psychology of Kansas City and Hospice Care of America. Piers Pener of Block & Co. represented the undisclosed buyer. The seller was also undisclosed.

July 16, 2019

Acquisitions Industrial Midwest Missouri

Stan Johnson Co. Brokers $14M Sale of Industrial Facility in Fenton, Missouri

by Kristin Harlow July 12, 2019

FENTON, MO. — Stan Johnson Co. has brokered the sale of Cassens Business Center in Fenton for $14 million. The multi-tenant industrial facility spans 132,279 square feet and is located at 2391 Cassens Drive. At the time of sale, the property was fully leased to two national tenants as well as a regional company. Zach Harris and Brad Pepin of Stan Johnson represented the seller, Green Street St. Louis, a Missouri-based developer. RCRL LLC, a New Jersey-based individual investor, purchased the building.

July 12, 2019

Acquisitions Midwest Mississippi Missouri Retail Southeast Top Stories

Twin River Worldwide Agrees to Acquire Two Casinos from Eldorado Resorts for $230M

by Alex Tostado July 11, 2019

LINCOLN, R.I. — Twin River Worldwide Holdings Inc. (NYSE: TRWH) has entered into an agreement to acquire Isle of Capri Casino Kansas City in Missouri and Lady Luck Casino Vicksburg in Mississippi for $230 million. Eldorado Resorts Inc. (Nasdaq: ERI) is the seller. Isle of Capri is located near downtown Kansas City, overlooking the Missouri River. The property offers 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues. Lady Luck Casino Vicksburg is situated along the Mississippi River. The property features 25,000 square feet of casino space, 603 slot machines, eight electronic table games, three dining venues and an 89-room hotel. “Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets,” says George Papanier, president and CEO of Lincoln, R.I.-based TRWH. “We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans.” Eldorado Resorts expects to use the proceeds from the sale for general corporate purposes, including its proposed $17.3 billion acquisition of Caesars Entertainment Corp. Papanier says TRWH will redevelop Isle of Capri, though he did not …

July 11, 2019

Leasing Activity Midwest Missouri Office

Law Organizations to Share Office Space in Kansas City’s Country Club Plaza

by Kristin Harlow July 8, 2019

KANSAS CITY, MO. — Kirkendall Dwyer LLP and Law Tigers have jointly signed a long-term office lease for 1,474 square feet at the Skelly Building in Kansas City’s Country Club Plaza. The organizations will occupy Suite 208 on the second floor. The building, located at 605 W. 47th St., is now 97 percent occupied. Other tenants include Panera Bread, Bo Lings Chinese restaurant, Footlocker, Roth Living, McDowell Rice Smith & Buchanan, House Park & Dobratz, Block & Co. Inc. Realtors and MegaStar Financial. Alex Block of Block & Co. handled the lease transaction on behalf of property ownership. Kirkendall Dwyer specializes in automotive personal injury. Law Tigers is a national network of motorcycle accident attorneys that focuses more specifically motorcycle personal injury. Block & Co. is the property manager for the Skelly Building.

July 8, 2019

Development Industrial Midwest Missouri

US Capital Development Breaks Ground on $20M Industrial Build-to-Suit for 1st Phorm in Fenton, Missouri

by Kristin Harlow June 27, 2019

FENTON, MO. — US Capital Development has broken ground on a $20 million industrial build-to-suit for 1st Phorm at Fenton Logistics Park in Missouri. The sports nutrition products manufacturer expects to occupy the 182,400-square-foot facility by early next year. Upon completion, the property will house more than 400 employees and feature an auditorium, gym, podcast room, basketball court, kitchen and media rooms in addition to office and warehousing space. With the addition of the new 1st Phorm facility, US Capital Development will have invested more than $111 million in developing Fenton Logistics Park and delivered 50 percent of the industrial space planned within the park. The developer continues to breathe new life into the site of the former Chrysler Plant, which now features 648,411 square feet of completed space, with 88 percent of those buildings occupied. M+H Architects is serving as the architect on the 1st Phorm project, while Stock & Associates is the consulting engineer and Alper Audi Inc. is the structural engineer. CBRE’s Jon Hinds and Katie Haywood represented US Capital Development while Noel Fehr of NAI Desco represented 1st Phorm.

June 27, 2019

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