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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.

Oct. 25, 2017

Zaxby's Restaurants Coming to Cape and Sikeston

Southeast Missouri diners will soon have another choice of casual dining with the addition of two new Zaxby's restaurants to be constructed in Cape Girardeau and Sikeston. Tom Kelsey, commercial broker with Lorimont Place, Ltd. confirmed he handled both site purchases in those cities to build the restaurants that will feature in store dining, food pickup and drive-through facilities. Zaxby's is a franchised and corporate chain of fast food casual dining restaurants offering chicken wings, chicken fingers, sandwiches, and salads.

The company operates primarily in the Southern United States with more than 801 locations nationwide. Kelsey said the Cape location will be built at Interstate 55 and Bloomfield Road, directly east of the Mercato Convenience Store. The Sikeston location will be on South Main Street in the new development, Sikeston Pointe. The specific site will be adjacent to the newly opened Rhodes 101 Convenience store at 1061 S. Main Street. The restaurant franchisee is Jacksonville, Florida based Maxwell Food Group, who presently operates 7 other Zaxby's including newly opened units at Paducah, Kentucky, and Martin and Union City, Tennessee. Site work will begin very soon at both Sikeston and Cape Girardeau.

Posted in Cape Girardeau, Expansion, Sikeston
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Oct. 20, 2017

Spectrum Transformer to Relocate

A Cape Girardeau based manufacturing company in business since 1987 will relocate to a larger facility according to Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the recent lease transaction.

Spectrum Transformer, who has operated at 624 Commercial Street, will relocate to a larger 6,000 square-foot building at 905 Enterprise in Cape Girardeau.  The company primarily assembles compact transformers most often used in the audio electronics and cordless microphone industries. The company’s products can be found in sound studios, location sound components, audio mixers, stage boxes and direct boxes The larger building size will enable the growing company to employee more workers for their operation.  Kelsey said the new facility, located at Enterprise and Gerhardt Drive, right off of South Kingshighway was formerly occupied by Newmayer Equipment, a fuels service company who they assisted to relocate down the street to 774 Enterprise.  An early October occupancy date is anticipated.

Posted in Business Growth, Expansion, Relocation
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Sept. 1, 2017

Harbor Freight Tools Opening in Cape Girardeau

A former long-time Cape Girardeau theatre location will be occupied by a major tool retailer.  Harbor Freight Tools announced  its plan to open a store in Cape Girardeau’s Town Plaza this fall. Tom Kelsey, commercial broker with Lorimont Place, Ltd., who represented the development owner in the lease, Greater Missouri Builder,s said the national company had been looking at the Southeast Missouri market for several years. A spokesman for Harbor Freight confirmed this will be the 18th store in Missouri. The company is a discount retailer of automotive, air and power tools, shop equipment and hand tools, with existing locations in Poplar Bluff and Farmington, Missouri, and Paducah, Kentucky. The company’s slogan is to deliver "high-quality tools at ridiculously low prices."

The chain, which was founded in North Hollywood, California, in 1977, is based in Calabasas, California, and has more than 750 stores nationwide.  Kelsey said major demolition has been taking place for several weeks at the 18,000 square-foot west endcap of the center at 2136 William St., Suite 205, which formerly housed the AMC Town Plaza 5 cinema since the 1970’s.  The cinema was closed a few years ago and Kelsey’s commercial real estate company has been seeking a suitable tenant for the prime shopping center space.  This part of the development will be completely renovated to accommodate the new business. The tentative opening date is set for Oct. 10th.

 

Posted in Business Growth, Commercial Leases, Expansion, Local Business
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Aug. 25, 2017

Missouri Care Opens Office in Cape Girardeau

Missouri Care, a part of WellCare Health Plans has opened an operations office in Cape Girardeau at 272 S. Mount Auburn Road. Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the lease transaction said the company has completed renovations on the 2,800 square-foot office space to customize it for their customer care center and will be open for business very soon.

Headquartered in Tampa, Florida, WellCare Health Plans, Inc. focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The company serves approximately 3.9 million members nationwide as of Dec. 31, 2016. In addition to Cape Girardeau, the company has opened or will open other Missouri offices in St. Louis, Columbia, Springfield and St. Joseph.Kelsey said the new office is in the same 90,500 square-foot Lorimont office complex as McAlister’s Deli.

Posted in Business Growth, Commercial Leases, Local Business
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Aug. 1, 2017

Indoor Trampoline Park to Open in Cape Girardeau

A former warehouse building occupied many years by a liquor wholesaler will after much renovation become home to an indoor trampoline park. Tom Kelsey, commercial broker with Lorimont Place, Ltd. has confirmed that a Jonesboro company has purchased the 34,000 square-foot building with over 9 acres at 4240 Nash Road in Cape Girardeau.  Ultimate Air Trampoline Park is expected to remodel the structure to include 12,000 square feet of trampolines and attractions. 

The company operates a similar venue at Jonesboro and will also include a laser maze and rentable rooms for parties for patrons and corporations. The Arkansas location has been open for a little over a year and has exceeded expectations according to one of the partners, Buddy Caubble.  Kelsey said he understood renovations in the former warehouse building, selected for its high ceilings and wide open spaces will begin immediately and the opening should be in about 90 days.  The location is just a half mile west of the Cape Girardeau Airport I-55 Exit and should be very convenient for customers throughout the region.  The company plans to provide jobs for 60-65 people, mostly part time employees.  Kelsey said no sales price was disclosed in the transaction, but the Lorimont website shows the property at $749,900.

Posted in Acquisitions, Business Growth, Expansion
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May 12, 2017

Dale & Associates Opens Psychological Services Office

Dale & Associates Psychological Services has relocated to a professional office at 2846 Professional Court  in Cape Girardeau.  Tom Kelsey, local broker with Lorimont Commercial Real Estate handled the transaction. The staff includes Bob and Jeanie Dale and Shawn Guiling.   They offer a full array of services from counseling to full scale assessments and work readiness reports. In-Class observations can arranged to assure accurate results. 

Individual, couples, family, child, and adolescent services are available.  Evaluation and consultations can be conducted in their office, another workplace, a public or private school, or other agency as needed. Dr. Guiling also offers counseling for children and adults, including topics such as adjustment, anxiety, depression, college student issues, and men’s issues.  Kelsey said the office is located in a professional office area off South Silver Springs Road between West Independence and Gordonville Road.

Posted in Business Growth, Local Business
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April 24, 2017

Holt Electrical Supply Opens in Cape

Customers in Southeast Missouri and Southern Illinois will have another choice for purchasing all types of electrical supplies and related tools with the opening of Holt Electrical Supplies. Tom Kelsey, commercial broker with Lorimont Place, Ltd., who handled the lease transaction, confirmed the St. Louis based company will open a branch facility at 2002 N. Kingshighway within the next few months. Kelsey said the 10,000 square foot building formerly was the long-time location of Dokata Electric, who closed late last year.

Holt Electrical Supplies is a family owned full-line electrical distributor that’s been serving the industry since 1960. The company presently has five branches in Missouri and over 7 million dollars in inventory handling residential, commercial, and industrial electrical products. The Cape location will be their sixth location. Other locations in Missouri include St. Louis, O’Fallon, Fenton, Washington and Arnold. Kelsey said he understood the new Cape location building will be completely remodeled before a spring opening.

Posted in Business Growth, Expansion, Local Business
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March 17, 2017

MirTech Harvest Center Opens at Sikeston

A new tractor and implement dealership has opened at 101 County Line Road in Sikeston, Missouri.  Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the recent transaction announced that MirTech has opened in the former location of Holt CAT, a Texas based dealership that closed a few months ago.

Kelsey said the dealership is owned by Colorado native Robert Krattli who operates 13 service centers in southwest Russia. The Sikeston dealership will primarily handle CLAAS brand of equipment. CLAAS is a family business founded in 1913 and is one of the world's leading manufacturers of agricultural engineering equipment. The company, with corporate headquarters in Harsewinkel, Westphalia, is the European market leader in combine harvesters, self-propelled forage harvesters and is also a top performer in world-wide agricultural engineering with tractors, agricultural balers and green harvesting machinery. The CLAAS product portfolio also includes state-of-the-art farming information technology. The company employs 11,500 workers worldwide and reported a turnover of 3.8 billion euros in the financial year of 2015.

MirTech, one of four distributors of CLAAS equipment in Russia, is for the Western Delta region in United States, where Holt CAT has withdrawn its agribusiness branches from Jonesboro, Arkansas, and Sikeston, Missouri. The territory encompassed by the preliminary agreement with MirTech takes in the Missouri boot heel and northeastern Arkansas.

Kelsey said the high traffic location along Highway 60 in Sikeston consisting of 22,600 square-feet of buildings on 16 acres was originally built and occupied to sell the Case and Kubota brand farm equipment. His company sold the property 6 years ago to Holt CAT from Texas and again handled the most recent transaction to MirTech Harvest Center for Holt CAT. No details of the transaction were disclosed by the Lorimont commercial broker.

Posted in Acquisitions, Business Growth, Expansion, Local Business
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Feb. 13, 2017

Ann's Bra Shop Opens in Cape

St. Louis based Ann's Bra and Mastectomy Center has opened their fourth location in Cape Girardeau according to Tom Kelsey, commercial broker with Lorimont Place, Ltd who handled the recent lease transaction. Kelsey confirmed the company has opened in a 4,500 square-foot retail space in the Shawnee Center development located at the corner of Shawnee Parkway (Highway 74) and South Silver Springs Road. The location is near the Highway 74, Interstate 55 interchange.

Started in 1967, Ann's Bra Shop has served St. Louis women for over 47 years. They carry a huge inventory of “in stock” bras at each of their four locations. They are also specialists in providing bras to fit those with mastectomies and work with healthcare professionals to properly accommodate those needs. Additionally, the store also carries a large inventory of swimsuits and other related intimate apparel. The business model is one of commitment to bring together a wealth of intimate apparel product selections for full figure, full busted and plus size women in a tasteful and convenient environment with emphasis on customer service and satisfaction.

Other store locations include Chesterfield and Wentzville in Missouri and O'Fallon, Illinois. Catherine Burns, owner of the company, has served many customers in the Southeast Missouri area over the past several years and wanted to bring a store location to the region that would be more convenient for them to visit. The same products, selection and customer care will be evident here as with her locations in the St. Louis metro areas. Kelsey said the new 4,500 square-foot retail space was completely renovated by the landlord and is now stocked and open for business.

Posted in Business Growth, Commercial Leases, Expansion, Local Business
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Sept. 16, 2016

Parmele Law Firm Relocates in Cape Girardeau

Springfield, Missouri based Parmele Law Firm has relocated their Cape Girardeau office to 260 S. Mount Auburn Road. Tom Kelsey, commercial broker with Lorimont Place, Ltd who handled the transaction said the law firm is now operating in their new location, just two doors down from McAlister's Deli in the Lorimont Place development. The Cape office is one of a network of 19 offices throughout Missouri, Kansas and Illinois focusing exclusively on Social Security disability and SSDI law.

It serves the Southeastern Missouri communities of Jackson, Perryville, Patton, Chaffee, Scott City, Sikeston and Charleston. The firm employs an experienced team of Social Security Disability attorneys. The Parmele website says that all of their locations offer free consultations and there are no attorney fees unless they win the client's case. Kelsey said the firm has been operating in Cape Girardeau for several years and were previously located on North Kingshighway. The new location near Interstate 55 allows easier access to regional clients traveling to Cape Girardeau.

Posted in Commercial Leases, Local Business, Relocation
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