Brentwood, Mo. — CBRE has brokered the sale of The Promenade at Brentwood, a 337,800-square-foot power center in the western St. Louis suburb of Brentwood. The sale price was $71.6 million. Tenants at the property include Target, Trader Joe’s, Burlington, Five Below, PetSmart, Ulta Beauty, World Market and Chase Bank. CBRE’s NRP Midwest team represented the seller, Beachwood, Ohio-based SITE Centers, in the transaction. Haverford Retail Partners was the buyer.
Chesterfield, Mo. — The Staenberg Group is underway with the first phase of redevelopment for the former Chesterfield Mall located in the western St. Louis suburb of Chesterfield. The site of the former mall will be transformed into a 4.5 million-square-foot mixed-use project. Demolition of the mall, excluding the Dillard’s and Macy’s buildings, was completed in April 2025. Phase I of the redevelopment, which will be called Downtown Chesterfied, is expected to take up to 18 months. Upon completion of the development, Downtown Chesterfield will feature up to 2,363 residential …
Florissant, Mo. — First National Realty Partners (FNRP) has acquired Florissant Marketplace, a 146,257-square-foot shopping center located in the northern St. Louis suburb of Florissant. Situated on roughly 20 acres, the center was originally developed in 1973 and renovated in 2018. The property is anchored by a 70,262-square-foot Schnucks grocery store and was 98 percent leased at the time of sale. Additional tenants at the center include Crunch Fitness, Pet Supplies Plus, Wingstop and AT&T. Chase Young of CBRE represented the undisclosed seller in the transaction. With this acquisition, FNRP’s …
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 …
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 …
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.
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.
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 …
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.
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.
