Missouri

Draper and Kramer Opens Second Phase of Apartment Property in Suburban St. Louis

by Kristin Harlow January 2, 2018

RICHMOND HEIGHTS, MO. — Draper and Kramer Inc. has opened The Flats at EVO in the St. Louis suburb of Richmond Heights. The collection of 46 townhome-inspired rental apartments is the second phase of EVO, a multifamily property that also includes an adjacent four-story, 281-unit apartment complex that opened in 2016. The 46 units include one-, two- and three-bedroom floor plans ranging from 764 to 1,465 square feet. Rents range from $1,375 to $2,570. Currently, renters will receive one month of free rent when signing a 13-month lease. Amenities at the property include an outdoor pool deck with grills, dog spa, fitness room, yoga studio and business center.

January 2, 2018

Midwest Missouri Mixed-Use

St. Louis Cardinals, Cordish Cos. Break Ground on $260M Second Phase of Ballpark Village in St. Louis

by Kristin Harlow December 20, 2017

ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have broken ground on the $260 million second phase of Ballpark Village. The 700,000-square-foot mixed-use expansion project will complete a full build-out of Clark Street. New buildings will be constructed on both the east and west sides of the existing Phase I development. A new street, running from 8th to Broadway streets, will be called Cardinal Way. On the east end of Cardinal Way will be a 29-story luxury residential tower called One Cardinal Way. On the west end will be a Class A office building, anchored by PricewaterhouseCoopers, and a convention hotel, Live! by Loews-St. Louis. In addition, a three-story retail pavilion just north of the existing Busch II Infield and event plaza will connect everything together. This glass pavilion will be anchored by a 31,000-square-foot Onelife Fitness. Designed by Hord Coplan Macht, the 29-story One Cardinal Way will feature 297 apartment units and 10,000 square feet of restaurant and retail space on the first floor. The building will also feature 25,000 square feet of amenity space, including an infinity edge pool, demonstration kitchen, club room, entertainment room, fitness center and conference room. Designed jointly by HKS Architects, HCM and Tao & …

December 20, 2017

Midwest Missouri Retail

Knoebel Completes Construction of $54M Shopping Mall in St. Peters, Missouri

by Kristin Harlow December 20, 2017

ST. PETERS, MO. — Knoebel Construction has completed The Shoppes at Mid Rivers in St. Peters, a suburb of St. Louis. The project is the largest mall to be built in St. Charles County since 2008. The 270,000-square-foot shopping center includes 14 buildings on 28 acres just north of I-70. Academy Sports + Outdoor, Burlington, Marshalls, Home Goods, Ulta Beauty, OshKosh B’gosh, Five Below, Famous Footwear and Aspen Dental have opened at the property. Ross Dress for Less, Sleep Number, Sprint and World Financial are slated to open in early 2018. Approximately 50 subcontractor companies worked on the project. The shopping center will employ 750 full- and part-time employees, according to developer GBT Realty Corp.

December 20, 2017

Loans Midwest Missouri Multifamily

Maverick Arranges $5.4M Bridge Loan for Mobile Home Community in Fenton, Missouri

by Kristin Harlow December 15, 2017

FENTON, MO. — Maverick Commercial Mortgage has arranged $5.4 million in bridge and subsequent permanent financing for Ravinia Estates in Fenton. The 217-site mobile home community spans 74 acres at 1103 Robindale Drive. Maverick arranged the 10-year loan on behalf of the borrower, JWW Robinland LLC. The bridge loan enabled the borrower, a private real estate investment firm, to fully renovate the infrastructure of the park including new signage, retaining walls, perimeter fencing, new office, parking lot, new asphalt, sealcoating and significant tree removal. The borrower invested in excess of $150,000 in capital improvements. Maverick was then able to secure permanent financing that paid off the existing bridge lender, returned equity to the borrower and paid for closing costs.

December 15, 2017

Loans Midwest Missouri Multifamily

Hunt Provides $5.4M Refinancing for Multifamily Property in Hazelwood, Missouri

by Kristin Harlow December 14, 2017

HAZELWOOD, MO. — Hunt Mortgage Group has provided a $5.4 million Freddie Mac loan for the refinancing of Brittany Townhomes and Trotwood Downs in Hazelwood, a suburb of St. Louis. Run as one property, Brittany Townhomes consists of 40 rental townhomes and Trotwood Downs consists of 68 units. Constructed between 1965 and 1968, the property is located at 7200 Brittany Town Place and 8507 Tally Ho Drive. The property is currently 94 percent occupied. The 10-year loan features a 30-year amortization schedule. Nidhi Gardens LLC, a Missouri-based limited liability company, was the borrower.

December 14, 2017

Midwest Missouri

McCarthy Breaks Ground on $25M Renovation of Science Building at Saint Louis University

by Kristin Harlow December 12, 2017

ST. LOUIS — McCarthy Building Cos. Inc. has broken ground on a $25 million renovation of Macelwane Hall, a four-story science building on the campus of Saint Louis University. The 82,770-square-foot project includes the complete renovation of all four floors of the facility after a May 2017 fire and subsequent water damage resulted in the temporary closure of the original building. The facility will include laboratories, classrooms and office space. Completion is slated for December 2018. McCarthy has completed previous work for Saint Louis University. The general contractor oversaw the conversion of a former charter elementary school into an interim science building to accommodate students, faculty and staff while Macelwane Hall remained closed. McCarthy completed that project in seven weeks to ensure the building would be available for the start of fall 2017 classes. Hastings + Chivetta is serving as architect on the Macelwane Hall renovation. Other project team members include 8760 Engineering (MEP engineer), CR2 Engineering (systems engineer), Alper Audi (structural engineer), Rock Hill Mechanical Corp. (mechanical design-build contractor), Guarantee Electric (electrical design-build contractor) and Gateway Fire Protection Systems (fire protection design-build contractor).

December 12, 2017

Midwest Missouri Office

Copaken Brooks, 3D Development Complete Lease-Up of Corrigan Station in Kansas City, Missouri

by Kristin Harlow December 7, 2017

KANSAS CITY, MO. — Copaken Brooks and 3D Development have completed the lease-up of Corrigan Station, a 110,000-square-foot property in Kansas City. CardConnect, a company specializing in advanced payment solutions, has signed an 11,150-square-foot lease on the second floor and is expected to take occupancy in the first quarter of 2018. The construction of Corrigan Station involved the redevelopment of the historic 10-story Corrigan Building and a new adjacent parking structure, which was completed in December 2016. A rooftop penthouse was converted into a glass-walled conference room. Other tenants include WeWork, Holmes Murphy, Hollis and Miller, The Roasterie Café and Corvino Supper Club. Scott Miller and Brian Bacon of CBRE represented CardConnect in the lease transaction. Ryan Biery and John Coe of Copaken Brooks represented ownership.

December 7, 2017

Industrial Midwest Missouri

BJC Healthare, CoreLink Sign Industrial Leases at Fenton Logistics Park in Fenton, Missouri

by Kristin Harlow December 6, 2017

FENTON, MO. — BJC HealthCare’s Clinical Asset Management Division and CoreLink have signed industrial leases totaling 150,000 square feet at Fenton Logistics Park, on the site of the former Chrysler plant in Fenton. Starting in January 2018, BJC will occupy 80,000 square feet in Building I. The 160,000-square-foot facility was completed in May. CoreLink, which designs and manufactures precision surgical instruments and implants, will occupy 67,000 square feet in Building II upon completion next summer. The facility will also total approximately 160,000 square feet. In addition to Buildings I and II, Building III will add an additional 168,000 square feet when it is completed in summer 2018. Building IV has been approved and fully entitled by the city of Fenton. Construction of the 157,500 square-foot building is expected to begin in the first quarter of 2018. The park’s developer, KP Development, acquired the former Chrysler plant in November 2014, and has since invested $12 million in site improvements. The first four buildings represent an additional investment of $65 million. All told, the park is expected to span 2.1 million square feet, including nearly 1.2 million square feet of manufacturing, logistics and warehouse space; 480,000 square feet of office/warehouse and flex …

December 6, 2017

Loans Midwest Missouri Multifamily

MCA Arranges $39.7M Bridge Loan for Apartment Property in Kansas City, Missouri

by Kristin Harlow November 27, 2017

KANSAS CITY, MO. — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $39.7 million bridge loan for East 9 Pickwick Plaza Apartments in Kansas City. The property, formerly home to the Pickwick Hotel, was converted into 260 apartment units and 35,000 square feet of commercial space in July of this year. Amenities include a community room, business center, swimming pool, fitness center and outdoor decks. Charley Babb and Todd McNeill of MCA arranged the loan on behalf of the borrower, a partnership sponsored by Kansas-based Gold Crown Properties. The bridge loan was used to refinance a construction and mezzanine loan in order to help stabilize lease-up prior to permanent financing, according to Babb.

November 27, 2017

Industrial Midwest Missouri

McGrath to Build $5M Warehouse in St. Louis

by Kristin Harlow November 27, 2017

ST. LOUIS — McGrath & Associates is building a new $5 million warehouse for U.S. Paint, a developer and manufacturer of customized automotive and industrial paints, at the company’s facility in downtown St. Louis. McGrath will work in two phases to replace an existing warehouse with a 33,000-square-foot building while the manufacturing facility remains operational. During Phase I, McGrath will erect a new pre-engineered metal building to provide new office space, a maintenance shop, a battery charging area and storage for raw materials. A connecting link will tie the new building into an existing manufacturing building to allow covered access for forklift truck traffic. During Phase II, the existing raw materials warehouse will be demolished and a new building erected to provide space for a quality control lab and liquid materials storage. Japan-based Kansai Paint acquired U.S. Paint last year.

November 27, 2017

Newer Posts

Older Posts