Blog

Our blog is a wealth of local commercial real estate information, covering everything from local market statistics and recent transactions to new business developments and press releases.

June 1, 2018

Angela Francis Interiors & Steel Concepts to Relocate

Two Cape Girardeau businesses will relocate to a larger location within the next few months according to Tom Kelsey commercial broker with Lorimont Place, Ltd who handled the recent sale. Angela Francis Interiors, owned by Angela Francis, along with her husband’s business, Steel Concepts and Designs, LLC, will move into larger offices at 1754 and 1762 Independence.

Kelsey said the Francises purchased both buildings, one formerly occupied by Shannon Kirchhoff Orthodontics and the other the previous location of Dan’s Key and Lock, all on the same property. Both businesses will headquarter in the former orthodontics building and the other building will be utilized for warehousing for the interior design operation. Angela Francis is an accredited interior designer offering full design services for both residential and commercial projects. Rocky Francis' Steel Concepts and Designs has operated for over 20 years and is a full service steel design detailer for all types of industrial and commercial projects. The company presently operates 7 licensed design stations. Kelsey said extensive remodeling would be completed to accommodate both businesses prior to their occupying the new office by the first of this year. Both companies have been located at 272 S. Mount Auburn Road in Cape Girardeau for the last 6 years.

May 25, 2018

Metro PCS Locates to Town Plaza

Consumers have another choice for purchasing wireless service and equipment in Cape Girardeau. Tom Kelsey, commercial broker with Lorimont Place, Ltd., confirmed that Metro PCS has located in Town Plaza Shopping Center, 2136 William Street. Kelsey said the company is a subsidiary of T-Mobile US, Inc. and provides nationwide 4G LTE wireless through its flagship T-Mobile network. As a traditional wireless store they feature a variety of phone equipment, wireless plans and related accessories to consumers. 

The Bellevue, Washington based company operates T-Mobile and Metro PCS outlets nationwide. This is the company's first store in Southeast Missouri. Kelsey said the store is open for business and is offering both family and business deals. The retailer is located between Rose Nails and H & R Block in the neighborhood shopping center.

May 18, 2018

SEMO Ready Mix Expands Operations in Sikeston

A regional ready mix company has acquired additional property in Sikeston to expand their operations there. Tom Kelsey, commercial broker for Lorimont Place, Ltd., who handled the recent sale announced Semo Ready Mix has acquired 12.3 acres adjacent to their present batch plant at 955 School Street in Sikeston. The newly purchased property also contains approximately 70,000 square-feet of various industrial buildings. The property was formerly owned and occupied by Nova Brik, a veneer masonry brick manufacturing that ceased operations in Sikeston a few years ago.

Semo Ready Mix presently operates 7 permanent locations in Southeast Missouri and two mobile plants. They also own and operate 6 ready mix concrete plants in Northern Arkansas under the Near Ready Mix name. Steve Obermann began as an employee of SEMO Ready Mix and worked in various roles until 2007, when he and his wife, Tammy Obermann, purchased the company and have steadily expanded the business over the past 9 years. Kelsey said the property acquisition will enable them to have more land area for future expansion.

May 15, 2018

Coles Acquire Lorimont Real Estate Firm

Lorimont Place Ltd., a commercial and industrial real-estate brokerage firm, will be acquired by Chris Cole and Bill Cole of Realty Executives of Cape County, according to a recent announcement. The two firms will remain separate brands, Chris Cole wrote in an email Monday — there will be no merger between Lorimont Place and Realty Executives.

The Lorimont Place realty company will remain in the Lorimont Place building at 276 S. Mount Auburn Road in Cape Girardeau, Chris Cole added. Real estate broker Tom Kelsey will remain with the firm, the release stated, and will continue to serve his clients in the same capacity he has for 25 years.

Chris Cole will be the firm’s managing broker.

The collaboration will bring together experienced real estate entities that will benefit each other, Chris Cole wrote in the email.

We are very honored and excited to assume ownership of Lorimont,” Chris Cole said in the release. “Tom Kelsey is a highly respected commercial real estate professional, and we look forward to working side-by-side with him for years to come. Tom and I have enjoyed working on opposite sides of a number (of) past transactions, and we have already found in the early stages of this venture that our respective backgrounds and skill sets complement one another. What Tom has built is very impressive, and we have no doubt that Lorimont will continue to be a strong commercial real estate brand for decades to come.”

Lorimont Place Ltd. was founded in 1993 by Earl Norman, Tim Goodman and Kelsey. Lorimont has been the region’s top commercial real estate brokerage firm since its founding, according to the release.

As the firm’s sole broker, Kelsey began in commercial real estate in a leasing and property management role for the Lorimont Place office and retail development on Mount Auburn Road. Over the next few years, Kelsey would grow the company into a brokerage responsible for many of the region’s high-profile commercial real estate transactions.

Kelsey’s work has played a role in the progression of commercial development and economic growth in Southeast Missouri. Some of his recent sale and lease transactions include the Zaxby’s site purchases in Cape Girardeau and Sikeston, Missouri; Ultimate Air Trampoline Park in Cape Girardeau; Chin Restaurant in Perryville, Missouri; Golden Corral in Cape Girardeau; and Walmart Neighborhood Market, Harbor Freight and Athletico in Cape Girardeau’s Town Plaza area, among others.

Bill Cole is an accountant and former CPA, according to the release, who founded Realty Executives of Cape County with his wife, Susan, in 2003. Susan has been a licensed real estate saleswoman and broker since 1981.

Realty Executives of Cape County has two offices in Cape Girardeau and one in Jackson. The firm expanded into Perryville in 2017 with the launch of its first branch office outside Cape Girardeau County, Realty Executives Edge. Together, the four Realty Executives offices have handled more than $200 million in real estate transaction volume annually for the past several years. Realty Executives has also brokered nearly $30 million in commercial sales and leasing volume in the past two years, according to the release.

Jan. 12, 2018

Park West Welcomes New Occupants

The Orthopedic Group of St. Louis, Sound Advice to Open

Two long-term leases at Park West Shopping Center at 201 S. Mount Auburn Road in Cape Girardeau have been completed, said Tom Kelsey, commercial broker with Lorimont Place Ltd., who handled the lease transaction for both spaces.  The shopping center, home to Brown's Shoe Fit Co., now will house Sound Advice, a hearing consultant business. The company has affiliated with the Audiology Center to open the new operation, Kelsey said.  Next door to Sound Advice in the shopping center will be The Orthopedic Center of St. Louis, in the former Coldwater Creek location. The office will have an in-house MRI machine, Kelsey said. 

Extensive remodeling will be needed to transform the former retail spaces to walk-in medical operations and construction has already begun.  Both locations representing 8,166 square feet in the center are expected to be in operation within about 90 days and bring the development owned by MidAmerica Hotels to 100% occupancy.

Dec. 15, 2017

Kelsey Receives REALTOR® Award for Top Commercial Producer in 2017

Among those receiving the prestigious Award of Excellence designation for the year 2017 were Tom Kelsey, president and broker for Lorimont Place, Ltd in Cape Girardeau. Recognition is given to those members who produce multi-million dollar volume for property sold and leased during the year.

Kelsey qualified for the highest volume "Zenith Level" unassisted award. It was announced that he was again the top producer for 2017 from all members of the Realtor board for commercial sales and leases.

He has been a recipient of this top sales award for the last 22 years, ever since its creation by the Realtor association in 1996 to recognize member real estate brokers and agents in the state. He had also been designated by the real estate trade group in as a "Lifetime Member of the Million Dollar Club" for multimillion dollar real estate production. Kelsey exclusively sells and leases commercial, industrial and development real estate in the Southeast Missouri region. He is a member of the Realtors Commercial Alliance, National Association of Realtors, Missouri Association of Realtors, Southeast Missouri Realtors, MLS and Cape Girardeau Chamber of Commerce.

Posted in Awards
Nov. 17, 2017

Lanter Delivery Opens Warehouse

Madison, Illinois based Lanter Delivery Services has opened a new distribution warehouse at 4014 Nash Road in Cape Girardeau. Tom Kelsey, commercial broker with Lorimont Place, Ltd. handled the recent transaction for the cross-dock type warehouse facility. The building contains multiple dock doors for quickly processing daily incoming and outgoing freight along with an office for their Southeast Missouri operations.

The company has a unique specialty daily distribution parts delivery service for agricultural, OEM automotive, trucking, automotive aftermarket, field technician, and industrial customers. The company averages over 8,000 emergency critical parts and daily stock order deliveries every day in the areas they serve. Kelsey said the company maintains 93 similar cross-dock type warehouses throughout the country. The company is now operational in the dock facility on Nash Road, which formerly was used for many years by ABF Freight Lines.

Nov. 10, 2017

Missouri Vein Care to Open Cape Girardeau Office

Cape Girardeau will be the sixth location for Missouri Vein Care, according to Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the recent lease transaction. Kelsey said the medical center will locate at 2917 Independence, Suites 200 & 300 in Cape Girardeau. The 3,000 square-foot location will be open during the next few weeks after some space renovations are completed. The medical group specializes in vein screenings, physician consultation, ultrasound, laser closure, micro-phlebotomy and spider vein treatment.

The group currently has five other locations in Missouri, Jefferson City, Columbia, Rolla, Poplar Bluff and Hannibal. On staff physicians are 2 of 500 physicians nationwide specializing in Phlebology (Vein Care). All offices have a specialty focus on vein care and participate in annual educational meetings in vein care. Each Missouri Vein Care physician has specialty training in vein diagnosis and treatment as well as aesthetics. Dr. Michael Ryan, founder of Missouri Vein Care graduated from Harvard and Columbia University and is board certified in thoracic surgery, general surgery and phlebology.

Nov. 3, 2017

Regional PrestoX Operations Office Relocates

PrestoX, a national pest control company has relocated their operations offices from Cape Girardeau to a much larger facility in Benton, Missouri at the I-55 interchange. Tom Kelsey, commercial broker with Lorimont Place, Ltd. handled the recent transaction. Kelsey said the new location of 6,075 square feet at 6150 State Highway 77 nearly doubled the space previously occupied by the company and enabled them to achieve more yard space for vehicles and equipment. PrestoX provides professional pest control services throughout Southeast Missouri, Southern Illinois, Northwest Tennessee and Northeast Arkansas.

The local service center consists of 14 dedicated commercial & residential pest and termite control technicians with a combined 105 years of experience. Today Presto-X is one of five brands of Rentokil’s North America Pest Control operations, with over 1900 colleagues providing regional service to several Midwest and Western states. Other Missouri offices include St. Louis, Kansas City and Springfield. Kelsey said the company has completed their move to the new Benton location.

Oct. 27, 2017

Perryville Ponderosa Building Sold

Tom Kelsey, commercial broker with Lorimont Place, Ltd. confirmed the sale of the Ponderosa Steak house property located at the I-55 Perryville interchange. Kelsey said it was his understanding the former steakhouse would be converted into a Chinese buffet operation featuring a hibachi grill and other amenities.  The Cape Girardeau based broker said the 7,900 square-foot high traffic and visibility restaurant located on 1.5 acres was sold to Kaizhi Enterprises, LLC based in Cape Girardeau.  The restaurant would be called CHIN and would open by February or March. 

The owners presently own the China Wok, located at Broadway and West End Blvd. in Cape and that restaurant would continue to be open. The former Ponderosa franchise opened in 1999 and was in operation up until the end of September.  It was operated by SBR Steakhouse, LLC located in Perryville. Kelsey said the previous owners were interested in retiring and the property was listed with his commercial real estate company earlier this year.  No sales price was disclosed, but the Lorimont website lists the property at $869,900.