Cincinnati — Neyer Properties has purchased a nearly 400,000-square-foot commercial portfolio occupied by Watson’s in a sale-leaseback transaction. The purchase price was undisclosed. The four-building portfolio consists of three retail assets and one industrial property that are located in the Cincinnati, Florence, Dayton and St. Louis markets. The sale-leaseback will enable Watson’s to free up capital as it looks to expand in additional markets, according to Neyer. Keith Yearout of Newmark represented Watson’s, which is a pool, spa and furniture retailer based in Cincinnati.
St. Louis — Panera Bread has unveiled a new restaurant design featuring increased drive-thru and pick-up access, technological offerings including contactless meal pick-up and an updated dine-in experience in response to COVID-19. The company is the latest chain to announce a refreshed design adapted to the changing needs of consumers during the pandemic. The first next-generation Panera Bread is set to open in the St. Louis suburb of Ballwin this November and will include: • An open kitchen with ovens in full view of restaurant guests; • dual drive-thru and …
South County and Warrenton, Mo. — IMPACT Strategies has completed the construction of two cannabis dispensaries for Proper Brands in Missouri. Both projects involved the repositioning of existing retail buildings located in South County and Warrenton. Both store locations feature specialized security measures and vaults. The interiors feature black and white design with light wood accents and midcentury modern furniture. IMPACT worked with Eddy Design Group and Case Engineering. Proper Brands is a medical marijuana company in the state of Missouri.
Florissant, MO. — First National Realty Partners has acquired The Shoppes at Cross Keys in Florissant, a northern suburb of St. Louis. The 339,464-square-foot shopping center is 93 percent occupied and features a 63,094-square-foot Schnucks and a 98,133-square-foot Home Depot. The seller and sales price were undisclosed.
Independence, Mo. — Block & Co. Inc. Realtors investment group, headed by Phil Peck and Marshal Blount, has acquired a former FedEx facility located at 3721 Noland Road in Independence. The 8,385-square-foot building has been repurposed into a four-unit, multi-tenant retail center. Construction of a brand-new parking lot and building facade was also completed in 2020. Peck and Blount leased three of the four available units to Little Caesars, Grassroots Dispensary and Cricket Wireless. Little Caesars is currently open for business and both Grassroots dispensary and Cricket Wireless anticipate opening …
Liberty, Mo. — Block & Co. Inc. Realtors has acquired a 2,685-square-foot property occupied by Dickey’s Barbecue Pit in Liberty. The purchase price was undisclosed. The net-leased building is located at 600 S. 291 Highway, 15 miles northeast of downtown Kansas City. Block & Co. will serve as the property manager. David Block of Block & Co. internally represented the company in the purchase.
St. Louis — Midwest Retail Properties has rebranded as MRP Capital Group. The St. Louis-based company, founded in 2013, is no longer solely focused on the Midwest region. The private equity real estate firm owns and manages Walmart-anchored shopping centers in secondary and tertiary locations nationwide. MRP’s current portfolio is comprised of more than 1 million square feet of retail space across 15 states.
St. Peters, Mo. — Pappy’s Smokehouse is the latest business to join the tenant roster at The Shoppes at Mid Rivers in the suburban St. Louis community of St. Peters. The 2,800-square-foot restaurant is expected to open by the end of October. This is the second location for Pappy’s, which serves signature dry-rubbed baby back ribs. GBT Realty Corp. owns The Shoppes at Mid Rivers, which opened in 2018 and is home to a mix of retailers such as Academy Sports, HomeGoods, Ulta, Marshalls and Outback Steakhouse.
Kansas City, Mo. — The COVID-19 pandemic has continued to highlight the importance of strong tenant-landlord relationships, particularly in the retail sector. Tyler Enders, co-owner of local Kansas City shop Made in KC, works with roughly 10 different landlords and has experienced a variety of different approaches to the COVID-19 conversation. “Some local landlords have been very communicative and have come to us with a creative solution. Others have been responding late and are bogged down,” said Enders. “Ultimately, we’ll continue to look at vibrant centers, but we’re going to …
Great Neck, N.Y. — Gorjian Acquisitions has sold eight retail and mixed-use properties totaling more than 500,000 square feet for $25 million. The portfolio includes the following Midwest properties: Saint Clairsville Plaza in Saint Clairsville, Ohio; Bradley Square in Milwaukee; Cabool Center in Cabool, Mo.; a single-tenant Dunkin’ property in Gary, Ind.; and Lafayette Center in Indianapolis. The portfolio also includes a mixed-use building in Brooklyn, N.Y.; a single-tenant Family Dollar property in Danville, Va.; and Oglethorpe Plaza in Albany, Ga. Gorjian Acquisitions, based in Great Neck, N.Y., is led …