Lane4 breaks ground on two senior living communities

LANE4 Property Group began construction on two sites within the Kansas City metro for its newest independent senior living development concept, Novel Place.

The facilities are located at 95th and Metcalf in Overland Park, and Hwy 40 and Hwy 7 in Blue Springs.

“Novel Place is setting a new standard for affordable, yet convenient, independent senior living. Future residents will have access to more amenities without having to break their bank,” said Hunter Harris, Lane4 partner.

Novel Place’s mission revolves around providing each resident with an improved sense of lifestyle rather than just a place to call home. Home health, dining, wellness, and transportation programs are available to future residents; each thoughtfully crafted to enhance the residents’ experience.

“We’re thrilled both Novel Place locations will be joining neighborhoods in Kansas City that already embody a strong sense of community,” Harris said.

Novel Place offers refined common areas, outdoor courtyards, an in-house fitness studio, and multiple gathering spaces for residents and their guests.

Each location features 134 apartments in a three-story building with a variety of studio, one, and two-bedroom floor plans.

“Our ergonomically friendly features, relaxed contemporary coastal design, and passionate commitment to foster a true sense of community are the cornerstones of our mission,” said Deb Wagner, Novel Place vice president of senior living.

“In our minds, it’s not just about constructing a building; it’s about providing a safe and affordable solution where neighbors can enjoy, support, and celebrate each other,” Wagner said.

Omaha-based, NewStreet Properties, LLC, has joined LANE4 as investment partners for both Novel Place locations. Architectural services for each project will be provided by Davidson Architecture and Engineering and construction services will be provided by Centric.

Academy Bank will provide financing for Novel Place of Blue Springs and Security Bank will provide financing for Novel Place of Overland Park.

Both locations are expected to be open by Summer of 2020.

BacklotCars shifts downtown to KC's Lightwell Building

BacklotCars, a wholesale auto inventory service provider currently located in the Crossroads, will be moving to the the newly rebranded Lightwell Building at 12th and Main in August.

With the recent signing of the 20,000 SF full-floor lease agreement, Somera Road and their partner AREA Real Estate Advisors, added the second major tenant following a landmark lease agreement with WeWork.

Lightwell currently boasts 180,000 SF of contiguous availability, the largest existing block of space in downtown Kansas City.

“When we saw the vision Somera Road and AREA Real Estate Advisors had for the Lightwell project, we knew it was something we had to be a part of,” said Josh Parsons, BacklotCars founder/ COO.

“The location, design and amenities of the project are exactly what is needed to attract the top tech talent to Kansas City. We are very excited to be moving into the new Lightwell Building and feel that it will be a great place for our ever-growing team to call home,” Parsons said.

BacklotCars is a significant disrupter of the wholesale automotive space, and recently closed a $25 million Series B funding round. The company seeks to ease pain points for automotive dealers though building one wholesale platform for all dealers to transact efficiently.

“BacklotCars is exactly the type of forward-thinking technology company that understands what we’re creating at the Lightwell. They’re a major contributor to Kansas City’s growing technology ecosystem and we’re excited to provide them with a home that’ll enable their next phase of growth.” said Basel Bataineh, Somera Road vice president.

“With its fantastic bones and premier location, we believed that Lightwell would attract the fastest-growing segments of employment including tech, marketing, and creative-driven companies. BacklotCars is certainly a great example of what we thought would happen,” said Tim Schaffer, AREA Real Estate Advisors president.

HOK and JE Dunn joined AREA and Somera Road on the renovation.

Jones Development acquires manufacturing and distribution facility in New Century, KS

Sumner Investment, L.L.C., a local partnership arranged by Jones Development, recently acquired a manufacturing and distribution facility in Johnson County, KS. The warehouse is situated on 17.71 acres in the New Century AirCenter, with close access to I-35.

As part of Jones Development’s newly created value-add portfolio, the facility is currently undergoing capital improvements and being offered for lease or sale, divisible as small as 100,000 SF.

The entire building includes 311,100 SF, with 12,000 SF of office space and 22’ – 26’ ceilings. The facility includes 36 dock doors, six drive-in doors and over four acres of paved, fenced and lighted outside storage for product or 95 trailer parking stalls.

“Jones Development has been developing, buying, selling, and managing industrial properties since the late 80’s,” said Chris Jones, executive vice president of investments at Jones Development. “The main difference today is that we are looking to aggressively expand this side of our business by forging some new, external relationships and pursuing more value-add facilities similar to Sumner.”

As part of their emphasized investment efforts, Jones Development also hired Cameron (Cam) Duff in March as vice president of investments.

Locally, Jones Development is also developing the master-planned Olathe Commerce Park, a new industrial business park occupying 66 acres at Dennis Avenue and South Grant Street, near KS Highway 7 and I-35.

Additionally, Jones recently completed a 99,600 SF speculative warehouse in Shawnee, KS, repurposed and sold a 88,000 SF facility in Riverside, MO, acquired a 2.5 acre parcel of land in Riverside, MO for future development, purchased two parcels of land at the intersection of Troost and Truman, and is investing with other local developers. Beyond the area, Jones is underway on several build-to-suit industrial development projects.

McKeever's Market to anchor 'Streets of West Pryor' in Lee's Summit

The $180 million Streets of West Pryor mixed-use development in Lee's Summit will be anchored by McKeever’s Market & Eatery. The 63,000 SF grocery store is a new-to-market concept operated by the McKeever family, with third-generational roots and over 40 years’ experience in the grocery space.

Drake Development broke ground in May on the 70-acre, $180 million project, located at the intersection of Interstate 470 and NW Pryor Road.

Other highlights include a 220+ luxury apartment complex, 165+ room hotel, 160+ age-restricted apartments-villas, and a wide range of national and local retail and restaurants. Due to ongoing negotiations, Drake declined to disclose additional tenant commitments.

The luxury apartment complex is being developed by Indianapolis-based Pearl Companies. First-class amenities will include underground structured parking, pool, fitness center, multiple courtyards, and first-floor access to restaurants, retail, and walking-trails to neighboring Lowenstein Park.

Led by Drake Development president, Matt Pennington, Streets of West Pryor was designed with the intent of creating a walkable and sustainable mixed-use community at the gateway of Lee’s Summit.

“When people think of a “mixed-use” development sometimes the end-product falls short, as it’s commonplace to have opportunities for live and play, but the “play” doesn’t extend beyond shopping or dining. We wanted to extend the “play” to outdoor recreation, and this was achieved through ample green space and walking trails connecting to neighboring Lowenstein Park. It was critical we tailored the site plan to include Lowenstein Park, which is a favorite among Lee’s Summit residents,” Pennington said.

The property is one of the last large infill sites in the KC metro, continually pursued by developers for its ideal location, but plagued with significant development issues including large quantities of rock, varying topography, power line relocation, and land assemblage of thirteen parcels owned by eight different property owners.

“We had an obligation to listen to any and all resident concerns. Planning meetings were meant to be an open discussion, answering all questions and iterating the project as we moved forward to address those concerns. We truly believe Streets of West Pryor was “co-created” with the City of Lee’s Summit and its residents,” Pennington said.

"As a consultant to Drake Development throughout the process and as a lifelong resident of Lee's Summit, I am so proud of what this brings to our community today and in the future, John Lovell, Lee's Summit Planning Commissioner added.

Other partners involved in the development include Emery Sapp & Sons, Lovell Sagebrush Insurance, RI Architects, and Schwerdt Design Group. Streets of West Pryor is expected to be complete by Summer 2020.

Occidental completes purchase of Sprint Headquarters Campus

Occidental Management, a Wichita, Kansas-based, "turn-key" commercial real estate development and management firm, closed on its purchase yesterday of the 20-building, 190-acre Sprint Headquarters Campus.

Sprint Corp. chose Occidental after an extensive, nation-wide selection process based on their shared vision for working with Sprint and the other campus tenants to re-invigorate and create an environment for companies to recruit and retain top workforce talent in the region and country.

This vision includes the recently completed OPx redevelopment, which neighbors the campus and was transformed into a vibrant, contemporary Class A office complex.

"The Sprint campus has been one of our ideal acquisition targets in the Kansas City market, and we’re excited to start work to enhance the already amenity rich campus," said Gary Oborny, CEO and Chairman of Occidental.

The Sprint headquarters will remain on the Overland Park campus. As part of the agreement between the two companies, Sprint is leasing back buildings for its long-term office needs, primarily in the southern portion of the campus.

"We are excited to add to our operating platform in Overland Park. Sprint has solidified its long-standing commitment to Kansas City and we look forward to working with them and the other tenants on campus as they look to grow their businesses in our home State," said Chad Stafford, president of Occidental and Overland Park native.

With the transaction complete, Occidental expects to announce more details for its future plans for the campus by year’s end.