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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.

Aug. 26, 2016

King Bee Courier to Open Depot Here

A Lexington, Kentucky based delivery service; King Bee Courier is expanding its services to Southeast Missouri and the surrounding four state region. Tom Kelsey, commercial broker with Lorimont Place, Ltd. confirmed the company has established a warehouse/depot here. Kelsey said the company will occupy a 6,000 square-foot warehouse at 3170 Industrial Fuels Drive in Scott City.

The location is right off the I-55 and Nash Road exits. The company started in 1992 and has become a dominate competitor in Kentucky, Ohio, and Indiana in the specialty delivery service business. Other affiliates are Out of the Box Logistics, which line hauls auto parts in 17 states to different hubs, Bee Line Courier, handling general courier services and this division, King Bee LLC specializing in pharmaceutical delivery, logistics and warehousing. Kelsey anticipated they would begin their operations immediately and would be hiring a number of drivers for their newly opened depot here.

Posted in Business Growth, Commercial Leases, Local Business
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Aug. 26, 2016

Numotion Relocates to Airport Area

A Cape Girardeau business has relocated and greatly expanded its Southeast Missouri branch location according to Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the recent real estate transaction. Kelsey confirmed that Numotion, formerly United Mobility and Seating, has moved from 1940 Golden Eagle Court to 126 Airport Road. The new location is located just off Interstate 55, near the Cape Girardeau Regional Airport. The company is considered the largest independently owned wheelchair company in the country. Their full line of mobility products includes manual and complex type wheelchairs along with power chairs and scooters. The Cape Girardeau branch facility is just one of multiple locations in 40 states.

The company has 7 offices in Missouri including St. Louis, Hazelwood, Columbia, Kirksville, Springfield, Kansas City and the newly relocated Cape location.Kelsey said the new 9,000 square-foot facility is nearly double the company’s previous space and will enable the company to expand both in office, service and repair space along with additional storage capabilities for their various lines of products. Numotion is recognized as a preferred provider that carries a wide array of products. Additionally the company offers complete sales, service, repair and parts for all of their lines of mobility equipment and serves

Posted in Business Growth, Expansion, Relocation
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Aug. 12, 2016

Alliance Bank to Build Branch in Jackson

Cape Girardeau based Alliance Bank will build a new bank branch at Jackson, Missouri. Tom Kelsey, commercial broker with Lorimont Place, Ltd. who is handling the real estate transaction verified the bank is purchasing 2.65 acres of property at 2320 E. Jackson Blvd from the Kasten and Manes family trusts. The new bank site is located next door to Ross Furniture. Kelsey said the high traffic and visibility site will be the community bank's fourth location in the region. Other banks are in Cape Girardeau, Sikeston and Oran, Missouri. Alliance announced that Wade "Pee Wee" Bartels will be the community bank president in Jackson. Other staff relocating to the branch will be Amy Thomas as mortgage loan originator and Molly Davidson will serve as new accounts representative and teller.

The bank will set up a modular banking structure on the site until the permanent building is completed. The bank opened in 1997 and now has approximately 100 shareholders, most all from the Southeast Missouri area. All their facilities, including the new Jackson branch are full-service and able to accommodate all consumer and business financial service needs. Kelsey said 3.3 acres of additional property to the south is available and his firm will continue to market that to businesses looking for a prime Jackson location.

Posted in Acquisitions, Expansion, Jackson, Local Business
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Aug. 5, 2016

Golden Corral to Open in Cape Girardeau

When Ryan's Steakhouse closed its doors in Cape Girardeau along with several of their restaurants nationwide, it made an opportunity for a competing buffet to open in the same location. A Golden Corral spokesman confirmed the property will become their newest restaurant in the Midwest. Tom Kelsey, commercial broker with Lorimont Place, Ltd, who is handling the sale, said the 10,777 square-foot restaurant property located on 2.07 acres will be completely remodeled by Golden Corral to incorporate their standard national design.

Kelsey said the existing size, high traffic and visibility location adjacent to the Route K and I-55 interchange was attractive to the buyer as well as several other prospects. Also appealing at the location is a new convention center and multiple story hotel is being is constructed next door to the restaurant property. There are 500 Golden Corral restaurants locations in 40 states according to the company's website. Kelsey said there was significant interest in the available restaurant property from several different restaurant operators and that speaks well for Cape Girardeau attracting new businesses. No sales price was disclosed, but the Lorimont website shows an asking price of $1.3 million.

Posted in Acquisitions, Local Business
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April 15, 2016

Bloomfield Road Landscape to Relocate

Another new business will locate on the East Outer Road across Interstate 55 from the Cape Girardeau Regional Airport. Travis Burger, owner of Bloomfield Road Landscape, has confirmed he has purchased 6.72 acres there to relocate his business from Blackford Lane by Strack Quarries.

Tom Kelsey, commercial broker with Lorimont Place, Ltd., who represented the property owner in the sale, Rhodes Real Estate Partners, said the buyer has already completed a significant amount of site work since the recent purchase. The location is next to Lawless Harley-Davidson and has excellent high traffic and visibility with frontage on the Interstate. The move is prompted by a need for more visibility and a desire to grow the business.

The company serves Southeast Missouri, Southern Illinois, Western Kentucky and Tennessee with their services. In addition to typical commercial and residential landscaping, they also do outdoor living areas, irrigation, water features, pavers, retaining walls and outdoor lighting. They also offer a complete design services to their customers. The business has been operating in the area now since 2000. Burger purchased the company approximately a year and half ago.

Posted in Business Growth, Expansion, Local Business, Relocation
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April 1, 2016

Richardson Tire to Open on Nash Road

A familiar name in the truck tire business will return to Southeast Missouri with the opening of Richardson Tire Service at 4901 Nash Road in Cape Girardeau. Tom Kelsey, commercial broker with Lorimont Place, Ltd, who handled the real estate transaction, confirmed the sale of the 60,000 square-foot industrial building located on 7-acres of property to RichCo Real Estate, LLC. The property was owned by Penzel, Incorporated and was previously leased for many years to Spartech Plastics who warehoused plastic materials from their nearby plant.

It was Kelsey's understanding that Richardson Tire would occupy about half of the building with a truck and automobile tire sales and service operation. The Richardson family sold their truck tire operation started in Cape Girardeau in 1957 to Raben Tire, Inc. in 1992, which at the time had 20 locations throughout the region. Dan Richardson, the founder's son, was the general manager of that business until recently. Kelsey said he thought the new business would be up and running in the very near future after modifications to the space were completed. No sales price was announced, but the Lorimont website shows a listed price of $1,250,000.

Posted in Acquisitions, Business Growth, Local Business
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April 1, 2016

Reed's Metals Opens Scott City Manufacturing Facility

Mississippi based Reed's Metals will open a manufacturing and sales facility in Scott City according to Tom Kelsey, commercial broker with Lorimont Place, Ltd who handled the recent real estate transaction. The company is a metal manufacturer specializing in metal roofing, metal buildings and pole barns and has eight locations across the Southeast United States. Kelsey said the company will open its ninth branch manufacturing facility in the building and property previously occupied by Macke Farm Equipment at 1616 E. Outer Road, directly across Interstate 55 from the Cape Girardeau Regional Airport.

The company headquarters is in Brookhaven, Mississippi and has plants in Brookhaven, Tupelo, and Meridian as well as Jackson, Tennessee, Lake Charles and Holden in Louisiana, Jasper Texas and Benton, Arkansas. Plans are to open operations in the 14,000 square-foot Scott City building situated on 5 acres within the next 60 to 90 days. Kelsey said he believed the existing building would be expanded initially to accommodate large metal manufacturing machines the company plans to install. Reed's Metals began in 1998 and is a multi-million dollar metal provider utilizing state-of-the-art technology and fabrication methods. Their facilities also produce steel buildings of any size to meet customer needs. They offer a complete line of multiple roofing panel profiles in 20 plus colors. Same day service is offered on all roofing orders. The company was recently listed in the "Mississippi 100, the state's top privately owned companies. The Scott City facility will serve a five state customer base with complete delivery services being offered.

 

Posted in Acquisitions, Business Growth, Expansion, Local Business
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March 1, 2016

Nestle Dreyers Distribution Facility Relocates

Regional distribution of Nestle Dreyers products has relocated to 3180 Nash Road in Scott City, Missouri according to Tom Kelsey, commercial broker with Lorimont Place, Ltd. who handled the real estate transaction. The company will operate a refrigerated truck docking and office operation at the new location on Nash Road, just east of the Interstate 55 interchange. The international company is the largest food company in the world and manufactures, markets and distributes a full spectrum of products including ice cream, frozen foods and snacks.

The new facility will house their distribution and coordinate logistics for their complete ice cream offerings, frozen pizza and snack food products for the entire region. Nestle USA has acquired a variety of ice cream and frozen food brands over recent years including Dreyers, HÄAGEN-DAZS, Edy's and Skinny Cow. Kelsey said the location was selected for its central location and close proximity to the interstate. The area is known as the Gene Rhodes Industrial Park and is within the city limits of Scott City.

 

Posted in Commercial Leases, Local Business, Relocation
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Feb. 12, 2016

Central States Rentals Will Relocate

One of Cape's local equipment sales and rental companies will relocate to a much higher traffic and visibility location according to Tom Kelsey, commercial broker with Lorimont Place, Ltd. The Cape Girardeau based broker announced that Central States Rentals has purchased property at 2967 E. Outer Road in Scott City as their new location. Brad Schlosser, owner of Central States, intends to move his company from their present operation at 4595 Highway 74 to this new location along Interstate 55 right across from the Cape Girardeau Regional Airport area. The new location has an existing 21,800 square-foot industrial building that will be completely remodeled to include a new operation office, storage and repair shop.

The land parcel of over three and half acres will allow the business to have an outdoor display their various equipment offerings. The area is known as the Rhodes Industrial Park within the city limits of Scott City and has experienced a steady amount of commercial growth over the past several years according to Kelsey, who has handled a substantial amount of the real estate sales and lease activity in that area over the last 20 years. The Central States business started in 2007 and handles all types of construction equipment including telescopic boom lifts, electric scissor lifts, reach fork lifts and rough terrain machines. They carry major brands like Genie, Skyjack, JLG and LULL. They primarily cater to contractors and builders throughout the entire Southeast Missouri region and offer sales, rentals, repairs and equipment jobsite delivery. Kelsey said he thought they would occupy the new location within the next 30 to 60 days or so.

 

Posted in Expansion, Local Business, Relocation
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Feb. 5, 2016

McKesson Building Fully Occupied

Posted in Commercial Leases, Occupancy Rates
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