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.

Feb. 8, 2021

Presley Enterprises Purchases Sikeston Property

A Sikeston based company is expanding its operations here. Kevin Presley Enterprises will soon relocate to a new facility at 830 Roth Street in Sikeston. The company has been in the food container business since 1997 and provides a wide selection of prior used containers ranging from 15 to 275 gallons. Tom Kelsey, commercial broker with Lorimont Commercial Real estate in Cape Girardeau handled the recent real estate transaction. The new facility located at 830 Roth Drive includes multiple industrial, shop and office buildings totaling 47,317 square-feet located on 8.7 acres of land. The property was originally constructed by Headrick Concrete Products and most recently occupied by Nova Brick and Semo Ready Mix. Presley was in need of a larger facility for their extensive growing container refurbishing business originating in the Sikeston area. Kelsey said Semo Ready Mix, the seller in the transaction will continue to operate a concrete batch plant on an adjacent site to the property sold. No sales price was disclosed, but the Lorimont website shows an asking price of $150,000 for the property.

Feb. 8, 2021

180 Fitness Expands to New Cape Location

Remodeling is underway at 1749 Independence St., a white one-story building behind Muy Bueno restaurant. By early January, it will be the new home of 180 Fitness, currently located at 2530 William St.

Tom Kelsey, broker with Lorimont Commercial Real Estate handled the real estate transaction for the new location.  The 3,500 square-foot free standing building will be more centrally located and have a more customized lay-out for present and future fitness members. The new location will also afford 180 Fitness more space and visibility, according to owner Melissa Stickel, who said she plans to "eventually add an outdoor workout space" to the Independence Street building.

The 24/7 access fitness operation offers both no-contract monthly and annual memberships along with personal and semi-private training, nutrition counseling and online coaching. Stickel said they have some other exciting health and fitness programs planned and the new location will give them the room to expand into those programs.Kelsey said the building located near the corner of Independence and Sheridan has been used for a variety of business over the years and the mostly open floorplan made it an excellent fit for a fitness operation. He indicated that extensive remodeling is ongoing for a January opening.al.

Feb. 8, 2021

S. M. Wilson & Company Opens Cape Office

A St. Louis-based commercial construction management firm, S.M. Wilson & Company, has opened an operations office at 145 S. Mount Auburn Road in Cape Girardeau.

Founded in 1921 and celebrating its centennial anniversary this year, S.M. Wilson specializes in large commercial, educational, health care, senior living, industrial and retail projects. It was the general contractor and services manager for Century Casino Cape Girardeau when it was built nearly a decade ago.

Nick Martin, a Southeast Missouri native with an extensive construction background, serves as senior project development manager at the Cape Girardeau branch office.

S.M. Wilson's office location on Mount Auburn Road was formerly occupied by VNA (Visiting Nurse Association) of Southeast Missouri, which relocated to 2311 Bloomfield St., Suite 103, in Cape Girardeau at the end of July.

Tom Kelsey with Lorimont Commercial Real Estate represented the Mount Auburn Road building ownership in the lease arrangement with S.M. Wilson, which was represented by Jacob Fish with Realty Executives Edge.

Posted in Business Growth
Feb. 5, 2021

Cape Funeral Home Adds Crematorium

Ford and Sons Funeral Home recently leased a building at 729 Enterprise St. in Cape Girardeau for use as a crematorium. Tom Kelsey, broker with Lorimont Commercial Real Estate handled the real estate transaction.

The family-owned funeral home was established in 1949 and has grown to several locations, two in Cape Girardeau, Jackson, Perryville, Oran, Altenburg, Benton, Missouri.  In addition of offering full funeral and most recently cremation services, the family also owns Cape Girardeau County Memorial Park Cemetery in Cape Girardeau.

According to Ford and Sons vice president Josh Ford, the move allows the organization to provide cremation services without outsourcing to other providers. Cremation has been a very popular alternative in recent years nationwide to traditional burial methods, mostly because of the economy.  Kelsey said it was his understanding that crematorium equipment installation has all been completed in the new facility and it is operational.

Posted in Expansion
Oct. 20, 2020

Fisher Auto Parts Relocates in Cape

One of the larger auto parts groups in the region, Fisher Auto Parts has relocated in Cape Girardeau to 2603 Gerhart.  This according to Tom Kelsey, Broker for Lorimont Commercial Real Estate who handled the transaction.  Kelsey said the auto parts company with corporate headquarters in Stanton, Virginia has recently opened in the 10,000 square-foot warehouse showroom building located just off South Kingshighway.  The facility will serve as their walk-in parts showroom and customer delivery hub for the greater Cape Girardeau area. 

The company was formerly located at 2350 Rust Avenue for many years.  The closed Rust Avenue location served as both a walk-in showroom store and area distribution center for many years.  He understood the distribution to other regional Fisher Parts regional locations would be handled from an alternate warehouse location.  Kelsey said Fisher corporate has also appointed his company as the exclusive real estate agency to sell the 41,630 square-foot industrial building located on 2.63 acres of property. Fisher Auto Parts purchased the locally owned B&H Fleet and Industrial Supply company in 1994, acquiring this property along with their various parts stores throughout Southeast Missouri.  Lorimont is actively marketing the warehouse property for an industrial buyer with an asking price of $895,000.

 

 

Posted in Business Growth
Aug. 13, 2020

Two Perryville Investment Properties Sold

Two government-leased office buildings in Perryville, MO, have a new owner, according to Chris Cole of Lorimont Commercial Real Estate, who recently handled the sale.  The two similarly-styled buildings were sold to two different, but related parties on July 31.  One of the buildings has housed the Perry County USDA Farm Services Agency since 2001, and the other has been occupied by the Missouri Department of Corrections, Probation and Parole Division since 1997.  The current tenants remain in place.

Cole said that the sales were part of 1031 like-kind exchange transactions for the new owners.  Under Section 1031 of the Internal Revenue Code, a purchaser of certain types of property may qualify to defer the recognition of capital gains from the sale of a previous property of like-kind.  This allows what would otherwise be taxable sales proceeds to be reinvested in new like-kind properties without immediately paying federal tax.   

   

Aug. 6, 2020

Tobacco Lane Relocates to Shawnee Center

A well-known Cape Girardeau tobacco shop has moved to a new location that offers cigar and pipe enthusiasts an enhanced shopping experience.

Tobacco Lane is now at 623 S. Silver Springs Road, Suite 600, after more than 20 years at 244 S. Silver Springs Road. The move into the new space in the Shawnee Center took place about two weeks ago. Lease arrangements at the new location were handled by Tom Kelsey and Chris Cole of Lorimont Commercial Real Estate.

Founded in 1982 by Robert Basler, Tobacco Lane was in West Park Mall 18 years before moving to Silver Springs Road. Matt Pruitt purchased the business from Basler in August 2017.

Tobacco Lane specializes in premium hand-rolled cigars and pipe tobacco and also sells humidors, lighters, cigar cutters and other smoking accessories.

The new location features a walk-in humidor and a smoking lounge, lighters, cigar utters, and other smoking accessories.  

Cole said the space has been fully renovated from an office suite to a retail storefront.  The new space was designed and furnished by Pat Young and his staff at Patrick Furniture.

Kelsey, who has handled a large number of leases at Shawnee Center on behalf of the owner/landlord, said that the addition of Tobacco Lane to the tenant mix makes the neighborhood center an attractive destination in a growing area of town.  The new psychiatric and VA hospitals also will being additional traffic to the immediate area.

 

 

May 18, 2020

Fabick Rents to Open In Cape Girardeau

A new equipment rental business will open in Cape Girardeau. Fabick Rents, a division of Fabick CAT will open a new branch facility at 2050 Southern Expressway in Cape Girardeau. Tom Kelsey, broker with Lorimont Commercial Real Estate, handled the real estate transaction with the St. Louis based company.  Fabick has 36 locations and 1,200 employees in four states.  The heavy equipment dealer has had a new and used equipment sales and service CAT location at 3033 Nash Road for several years and that location and operation will not change.  The newest Cape location will handle primarily rental equipment including CAT machines such as skid steer loaders, excavators, dozers, compactors, wheel loaders, and telehandlers as well as a full line of aerial lifts, generators, trailers, and miscellaneous other large and small equipment.  Kelsey said the company has been involved in remodeling the Cape location for the last several months and expects to open very soon.  The company has celebrated it’s 100th anniversary and is family owned and operated throughout the Midwest states.  The new Cape location was the former location of United Rentals, which relocated to the East I-55 Outer Road across from the Cape Girardeau Regional Airport.

 

March 3, 2020

MRV Bank Purchases Former Regions Branch

The Region Bank Branch located at 101 S. Mount Auburn Road in Cape Girardeau has been sold to MRV Bank. This transaction information according to Tom Kelsey, broker with Lorimont Commercial Real Estate in Cape who represented Regions in the property sale. Chris Cole, broker, also with Lorimont represented the buyers.

Doug Watson, president and CEO of MRV Banks confirmed they had acquired the 4,800 square-foot building located on 1.31 acres and have proceeded to remodel parts of it converting it into MRV Banks' administrative center. Watson said the bank is considering some additional uses for the newly acquired bank building including adding a drive-through or telebanking functions.  More information will be forthcoming in the near future.

The two-level building has been a branch of several financial institutions including Cape County Bank, Union Planters Bank and, most recently, Region's Bank.  Region’s still operates a bank facility in the city at Broadway and Kingshighway.

Kelsey said Lorimont has been involved in other Region’s bank sales in the area including Poplar Bluff, Jackson, Oran and New Madrid. 

 

Feb. 5, 2020

Home Ice Company Purchases Scott City Building

Home Ice Company will have a new facility in Southeast Missouri with the purchase of a building at 3400 Willow in Scott City. Tom Kelsey with Lorimont Commercial Real Estate handled the sale. The former cross dock facility is located near the Cape UPS terminal. Home Ice purchased the former Pure Ice Company in Cape Girardeau a few years ago. The Cincinnati, Ohio based company operates in a 23 state area with 55 branches throughout the country. The building was utilized for many years by Roadway Freightways and a distribution facility for the three-state area.