Missouri

Draper and Kramer Oversees Lease-Up of EVO Luxury Apartment Property in Suburban St. Louis

by Kristin Harlow December 14, 2016

RICHMOND HEIGHTS, MO. — Draper and Kramer Inc. continues leasing up the first phase of EVO, a four-phase apartment development that will bring more than 800 luxury apartment units to suburban St. Louis. Located at 9015 Eager Road in Richmond Heights, EVO includes four planned apartment buildings that are scheduled to be completed by 2020. EVO’s first phase of construction, expected to be complete in early 2017, features a four-story apartment complex with 281 units, including studio, one- and two-bedroom residences. Rents start at $1,100 and floor plans measure from 572 to 1,210 square feet. Holland Construction Services Inc. has already broken ground on the second phase, which will include 46 townhome-style residences.

December 14, 2016

Midwest Missouri Restaurant Retail

The Roasterie Signs 1,538 SF Lease at Corrigan Station in Kansas City, Missouri

by Kristin Harlow December 13, 2016

KANSAS CITY, MO. — The Roasterie has signed a 1,538-square-foot retail lease at Corrigan Station, a mixed-use project under construction in Kansas City. Copaken Brooks and 3D Development are the project’s co-developers. The Roasterie Café, which offers coffee, tea and pastries, will be located on the first floor. Construction of the café is slated for completion in March 2017. This is the second retail tenant announced for the historic building since construction began on the project. Corvino Supper Club and Tasting Room, a new concept by chef Michael Corvino, was announced earlier this summer and will be the only other tenant occupying the first floor. The Corrigan Station project includes the redevelopment of the historic 10-story, 110,000-square-foot Corrigan Building and approximately 40,000 square feet of new office and retail space with an adjacent parking structure. The mixed-use property is located on 19th Street connecting Walnut and Main streets in the heart of the Crossroads, the city’s art district.

December 13, 2016

Hospitality Midwest Missouri

Midas Hospitality Acquires Staybridge Suites in Independence, Missouri

by Kristin Harlow December 12, 2016

INDEPENDENCE, MO. — Midas Hospitality has acquired the Staybridge Suites Kansas City-Independence for $9.8 million. The 102-room hotel is located at 19400 E. 39th Place South on I-70. Renovations totaling $1.6 million will begin in January and include a complete interior renovation along with exterior landscape updates. The hotel will remain open during renovation. Midwest Bank of Poplar Bluff is the lender for the renovation project.

December 12, 2016

Midwest Missouri Mixed-Use

Westcott Investment Group Receives Approval for Development of The Grove in Lee’s Summit, Missouri

by Kristin Harlow December 9, 2016

LEE’S SUMMIT, MO. — The Lee’s Summit City Council has approved the rezoning and preliminary development plan for The Grove at Lee’s Summit, a 1 million-square-foot, mixed-use project in Lee’s Summit, about 20 miles southeast of Kansas City. The project developer is Westcott Investment Group. Development on the site begins this month. The 73-acre land site will include retail, restaurant, entertainment, multifamily housing, commercial office, warehouse and light manufacturing space. The first phase of the project includes 500,000 square feet of industrial space near the southern portion of the business park. Klover Architects will serve as architect and BHC Rhodes will provide civil engineering services. Daren Fristoe is project manager and Aaron March of White Goss is the development attorney.

December 9, 2016

Industrial Midwest Missouri

Cushman & Wakefield Negotiates 81,997 SF Industrial Lease in Kansas City, Missouri

by Kristin Harlow November 30, 2016

KANSAS CITY, MO. — Cushman & Wakefield has negotiated the lease of 81,997 square feet of industrial space in Building III at Three Trails Industrial Park in Kansas City. Shuttlewagon Inc., a designer and manufacturer of mobile railcar movers for aggregate, mining and refining industries, will occupy the space located at 8701 Elmwood Ave. for 15 years. At least 60 employees are expected to work in the building. Joe Accurso and Rob Holland of Cushman & Wakefield represented Shuttlewagon in the transaction. Mark Fountain and Nick Tinnel of True North Industrial Realty LLC represented the landlord, NPIF2 Three Trails Building III LLC.

November 30, 2016

Loans Midwest Missouri Retail

Metropolitan Capital Advisors Arranges $14.4M Acquisition Loan for 274,223 SF Shopping Center in Kansas City, Missouri

by Kristin Harlow November 28, 2016

KANSAS CITY, MO. — Metropolitan Capital Advisors Ltd. has arranged $14.4 million in acquisition financing for Barry Towne Shopping Center, a 274,223-square-foot retail center in Kansas City. The property was 47 percent occupied at the time of acquisition to tenants such as Target, Kohl’s and Famous Footwear. The center was built in two phases starting from 1996 to 2001. United Development Company purchased the property and will implement a capital improvement plan to attract new tenants. Sunny Sajnani and Brandon Wilhite of Metropolitan Capital Advisors arranged the bridge acquisition loan with Arkansas-based Centennial Bank.

November 28, 2016

Midwest Missouri Office

CBRE Arranges Sale of 520,431 SF Office Building in Kansas City

by Kristin Harlow November 18, 2016

KANSAS CITY, MO. — CBRE has arranged the sale of Two Pershing Square, a 520,431-square-foot office building in Kansas City. The sales price was not disclosed. The Class A office building, located at 2300 Main St., is 11 stories and anchored by GSA’s Heartland Region office. VanTrust Real Estate LLC purchased the asset from TA Associates. Gina Anderson and Gary Carr of CBRE arranged the transaction on behalf of TA Associates.

November 18, 2016

Hospitality Midwest Missouri

Midas Hospitality to Manage New Staybridge Suites in Maryland Heights, Missouri

by Kristin Harlow November 16, 2016

MARYLAND HEIGHTS, MO. — Midas Hospitality will manage the new $16 million Staybridge Suites hotel located at 25 Progress Parkway in Maryland Heights, a suburb of St. Louis. The 122-room hotel features one- and two-bedroom suites. MC Hotel Construction, a sister company of Midas Hospitality, built the hotel.

November 16, 2016

Midwest Missouri Retail

Hilliker Corp. Brokers Sale of 5,000 SF Retail Property in St. Louis

by Kristin Harlow November 9, 2016

ST. LOUIS, MO. — Hilliker Corp. has brokered the sale of a 5,000-square-foot retail property at 1716 S. Broadway in the Soulard area of St. Louis for $400,000. Grateful Pets purchased the property for its daycare facility, pet training area and grooming room. Rebecca Suen of Hilliker Corp. represented the buyer. Dan Lesinski and Brandon Wappelhorst of Sansone Group represented the seller, 1716 S. Broadway LLC.

November 9, 2016

Midwest Missouri Retail

GBT to Develop New 270,000 SF Shopping Center in St. Peters, Missouri

by Kristin Harlow November 4, 2016

ST. PETERS, MO. — GBT Realty Corp. has acquired a 28-acre piece of land to develop The Shoppes at Mid Rivers in St. Peters, a suburb of St. Louis. National tenants such as Academy Sports + Outdoors, Marshalls, Homegoods and more will occupy the 270,000-square-foot center located north of Interstate 70. An additional 30,000 square feet and four outparcels remain available. The City of St. Peters was heavily involved with the project and approved an incentive package worth up to $10 million, as well as the rezoning of the property. The existing John Deere dealership on the site will move to 3575 Veterans Memorial Parkway in St. Charles, Mo.

November 4, 2016

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