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Cave Springs Shopping Cente
Investment salesMissouriNews

Marcus & Millichap Brokers Sale of 176,804-Square-Foot Power Center in Suburban St. Louis

by Abby Cox

St. Peters, Mo. — Marcus & Millichap has brokered the $22.1 million sale of Cave Springs Shopping Center, a 176,804-square-foot power center located in the northwest suburb of St. Louis. The property — which is co-anchored by The Edge Fitness Club and Hobby Lobby — was fully leased at the time of sale to tenants including Office Depot, Cycle Gear and LongHorn Steakhouse. The sale included four individual, single-tenant, net-leased outparcel buildings. Craig Fuller, Erin Patton and Scott Wiles of IPA sourced a local buyer in the 1031 exchange. David …

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Starbucks Coffee and Dental Care on 7
Investment salesMissouriNet leaseNews

Hanley Brokers Sale of Two Single-Tenant Retail Properties in Blue Springs, Missouri

by Abby Cox

Blue Springs, Mo. — Hanley Investment Group Real Estate Advisors has brokered the sale of two newly constructed, single-tenant retail properties located in Blue Springs, roughly 19 miles southeast of downtown Kansas City. The adjacent properties — which are occupied by Dental Care on 7 and Starbucks Coffee — were sold for more than $5 million to two separate buyers. The transactions had a blended cap rate in the low 6 percent range. Situated on a 0.96-acre parcel, Dental Care on 7 totals 4,200 square feet. Jeff Lefko and Bill …

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Douglas Square
Investment salesMissouriNews

Prudent Growth Acquires Shopping Center in Lee’s Summit, Missouri for $11.6 Million

by Abby Cox

Lee’s Summit, Mo. — North Carolina-based Prudent Growth Partners LLC, has acquired Douglas Square, a 59,451-square-foot shopping center in the Kansas City suburb of Lee’s Summit, for $11.6 million. Built in 1999, the four-building property features a combination of 18 local and national tenants including medical, restaurant and service-oriented businesses. The property was 74 percent leased at the time of sale. The seller was not disclosed.

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Investment salesMissouriNews

Sky Real Estate Acquires 391,000-Square-Foot Retail Center in Central Missouri

by Hayden Spiess

Osage Beach, Mo. — Sky Real Estate has acquired Osage Beach Outlet Marketplace, a 391,000-square-foot retail center located on a 60-acre parcel in Osage Beach. Tenants at the property include Polo Ralph Lauren, Under Armour, Bath & Body Works and LOFT. A subsidiary of Simon Property Group sold the center for an undisclosed price. 

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DevelopmentEntertainmentMissouriNews

Cordish Cos. Plans $10 Million Renovation of Kansas City Live! Entertainment Destination

by Hayden Spiess

Kansas City, Mo. — The Cordish Companies has unveiled plans for a $10 million renovation of Kansas City Live!, an entertainment development within the city’s Power & Light District. The project will include updates to existing spaces, as well as the introduction of a new concept. Upgrades at the Kansas City Live! Block will include a new exterior canopy, the addition of ceiling heaters and misters to the open-air venue, new high-definition ribbon boards, enhanced theatrical lighting, expanded group seating areas, fresh landscaping and expanded bar access. Additionally, Pizza Bar will …

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Investment salesMissouriNews

STRIVE Brokers Sale of 45,260-Square-Foot Retail Center in Harrisonville, Missouri

by Hayden Spiess

Harrisonville, Mo. — STRIVE has brokered the sale of Harrisonville Crossing, a 45,260-square-foot retail center located in Harrisonville. The property was 82 percent occupied at the time of sale. Hudson Lambert of STRIVE represented the seller, a California-based investor, and procured the buyer, a Pennsylvania-based investor, in the transaction. 

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Grocery-anchoredInvestment salesMissouriNews

Cohen & Steers, Phillips Edison Acquire 121,000-Square-Foot Retail Center in Missouri

by Hayden Spiess

Des Peres, Mo. — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Des Peres Corners, a retail center located in Des Peres, in partnership with Phillips Edison & Co. (PECO) The acquisition was made through a programmatic joint venture that is 80 percent owned by CNSREIT and 20 percent owned by PECO. A 74,000-square-foot Schnucks anchors the property, which was built in 2009 and totals 121,000 square feet. The center was 90 percent occupied at the time of sale. 

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Smoothie-Factory-Kitchen
ArizonaCompany newsMissouriNewsRestaurants

BRIX Holdings Enters Four-Unit Franchise Agreement in Arizona, Missouri

by Hayden Spiess

Dallas — Dallas-based food-and-beverage franchising company BRIX Holdings LLC has entered into an agreement with franchise owner Richard Stassi to open four new units in Arizona and Missouri. Stassi will open three Smoothie Factory + Kitchen and Red Mango co-branded shops within the next three years in metro Phoenix and Scottsdale, Arizona. The first of the units is scheduled to open in early 2025. Franchisee Gary Patel signed the fourth deal with Stassi and will open a Red Mango store in Kansas City, Missouri, in early 2025, marking the first entry …

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Grandview-Plaza_Florissant-Mo
Grocery-anchoredInvestment salesMissouriNews

Legacy Brokers $13.5 Million Acquisition of Shopping Center in Missouri 

by Hayden Spiess

Florissant, Mo. — Legacy Realty Group Advisors has brokered the $13.5 million sale of Grandview Plaza, a shopping center located in Florissant. Schnucks and Old Time Pottery anchor the property, which totals 297,257 square feet. Daniel Baruch, Jonah Warshaw and Ari Warshaw of Legacy represented the buyer in the transaction, and Chase Young and Mike Joyce of CBRE represented the seller. 

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KCCurrentDistrict
DevelopmentMissouriMixed-useNews

Kansas City Current Plans $800 Million Riverfront Mixed-Use Development

by Hayden Spiess

Kansas City, Mo. — The Kansas City Current, a professional women’s soccer team famously part-owned by Brittany Mahomes, has unveiled plans for an $800 million mixed-use project on the Missouri riverfront in downtown Kansas City. The development follows completion of CPKC Stadium, a women’s soccer stadium that seats 11,500 people, in March. According to the project team, the $120 million venue is the first soccer stadium to be designed and built exclusively for women. Partners for the mixed-use project include Palmer Square Capital Management, Marquee Development and the Port Authority of …

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