Summit Real Estate Group has acquired a 230,586-square-foot five-property industrial portfolio in St. Petersburg, Fla. Farallon Capital Management LLC sold the facilities for a total of $17.4 million. JLL arranged the sale on behalf of the seller. Three of the properties are situated within the Westbay Corporate Center at 9400-9700 International Court N. and the … Continued
Mid-St. Louis County is one of the tightest retail submarkets in St. Louis, with vacancy hovering at 3.1 percent, nearly two percentage points lower than the region’s average, according to a recent report from Newmark Grubb Zimmer. It’s why Summit Development’s $52 million The Crossings at Richmond Heights is one of the region’s most significant … Continued
Dallas-based STRIVE has arranged the sale of Westover Village, a 111,374-square-foot retail center in Fort Worth. The property, which houses tenants such as AT&T, Firehouse Subs and SportClips, was close to full occupancy at the time of sale. The site includes additional land for development. Jennifer Pierson of STRIVE represented the seller, a St. Louis-based … Continued
Groundbreaking for the long-awaited multi-purpose ice complex near Hollywood Casino in Maryland Heights is expected by the third week of July, city officials said Thursday night after a package of nine bills and resolutions related to the project was quickly approved by the City Council. The not-for-profit St. Louis Legacy Ice Foundation will build and … Continued
The Crossings at Richmond Heights, located at the intersection of Dale Avenue and South Hanley Road, will include a five-story, 142-room Courtyard by Marriott hotel along with 13,000 square feet of retail space. The Crossings will also offer shoppers and visitors a Cyclebar indoor cycling gym and several restaurant options, including Red Robin, Starbucks, Vitality … Continued
Global sports entertainment leader Topgolf® today announced it has broken ground on its first location in Chesterfield, Mo. Topgolf will soon begin construction on the 65,000-square-foot venue, with an expected opening toward the end of 2018. “The Topgolf project has already created a great deal of enthusiasm in the region as it will be the only entertainment venue of … Continued
The new Schnucks opening Sept. 15 in Des Peres includes the grocery store chain’s first cooking school. The cooking school has been in development for more than two years, Schnucks President and Chief Operating Officer Todd Schnuck said. The new, 74,000-square-foot store will include the Schnucks Cooks Cooking School, said Chairman and Chief Executive Scott … Continued
The Des Peres Board of Aldermen has voted to approve a $42 million retail center to be built at the southeast corner of Manchester and Ballas roads. The 14-acre development, to be called Des Peres Corners, will include a 70,000-square-foot Schnucks store to replace the current supermarket at 11945 Manchester Road. The development will border … Continued
Scott Reese, director of development and partner at Summit Development Group, has been involved in transactions worth more than $43 million in the last year. The projects include the renovation of 82,225 square feet of retail/office space at Deer Creek Center, construction of 117,000 square feet of service center space at the Chesterfield Exchange, and … Continued