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.

March 11, 2019

Artisan Contracting to Relocate in Cape Girardeau

After having offices on the third floor of the Cape Girardeau Commerce Bank building for 20-years, Artisan Contracting is relocating its operations to larger facilities at 2097 Corporate Circle in Cape. Tom Kelsey, broker with Lorimont Commercial Real Estate, who handled the recent real estate transaction, announced the contracting firm would move into the 14,475 square-foot office and warehouse industrial building.

The new location, originally built by Metco Barge Line is within the Six Thirty Industrial Park and contains 4-acres of property in addition to the offices, warehouse and fenced yard areas. Artisan was formed in 1995 as a general contracting company primarily involved in industrial construction and maintenance projects including structural concrete, steel erection, equipment setting, pile driving, and deep shoring. They also offer design/build construction services in pre-engineering buildings. Kelsey said the company plans to be relocated into the new facilities by early summer. The business also has a satellite office in Ste. Genevieve, Missouri. Most of their projects are located within the mid-west United States.

March 1, 2019

27 Acres Sold in Scott City Industrial Park

Tom Kelsey, Broker with Lorimont Commercial Real Estate, announced that 27 acres of industrial property has been sold in the Rhodes Industrial Park in Scott City.  The property parcel is adjacent to the Pavestone manufacturing plant.  The tract, zoned for manufacturing and industrial use, will be accessed from the East Outer Road between Bloomfield Road Landscaping and Lawless Harley-Davidson.  The access road also serves the City of Scott City's water treatment plant.  Kelsey said the buyer will utilize a portion of the  property to recycle Pavestone's precast products into usable aggregate products for the construction industry.

The entire East Outer I-55 Road area, directly across the interstate from the Cape Girardeau Regional Airport has experienced a steady growth of business in recent years.  Lorimont Commercial Real Estate has handled most of the sales over the last 20 years for the Gene Rhodes family.  The City of Scott City has embraced the industrial development with expanded infrastructure suitable for attracting the new companies.  MoDOT also connected the existing outer road with the main part of Scott City a few years ago providing additional access to the indutrial area.  Along with Pavestone and Havco Wood Products, the area has a number of construction and equipment suppliers, a Harley-Davidson and John Deere dealership.  The region's UPS terminal and several distributors also are located within the development   Kelsey said Lorimont continues to market a variety of available sites to prospective buyers.

Feb. 14, 2019

Nash Road Warehouse Sold

One of Southeast Missouri's larger warehouse facilities has been recently sold by Lorimont Commercial Real Estate of Cape Girardeau.  Tom Kelsey, commercial realtor announced the sale of the 85,558 SF industrial building with 11,206 SF of executive offices on 7.02 acres of property.  The property and warehouse is located at 4298 Nash Road.  Formerly occupied for many years by Motorcycle Stuff, a national motorcycle and ATV accessories distributor, it was owned by the Dodd family and sold to a local investor buyer.  

The entire warehouse area is leased to a regional warehouse/logistic company who will continue to operate there.  The building was constructed back in the 1970's as one of the region's first bonded warehouse facilities.  Located in the Greater Cape Girardeau Industrial Park, it features a rail spur, close to the Nash Road I-55 interchange, Cape Girardeau Regional Airport and SEMO Port Authority.  The industrial park continues to see existing businesses expand and also attract new industrial users in recent years.

Feb. 11, 2019

Presort Mail Company Purchases Cape Building

The former Midwest Painting building and property at 2121 Bessie Street in Cape Girardeau has been purchased by Presort, Inc., a St. Louis based company in the direct mail expediting business. Tom Kelsey, commercial Realtor, with Lorimont Commercial Real Estate who represented the seller said he understood the new buyers would equip and occupy the property very soon.

The company provides presort services for direct mail services including letters, flats, and direct mail marketing. Their operation has resources and capabilities to maximize postage savings and ensure timely delivery. They operate closely with the United States Postal Service by processing more than 50-million direct mail pieces throughout the year. By combining large volumes of mail from companies of all sizes, they offer businesses access to significantly lower postage and handling costs than what most companies could obtain on their own. All of this is accomplished while providing best-in-class tracking and security services. Presort, Inc. is the leading provider of outsourced mail services and presort services. The buyer was represented by Kara Gendron with Realty Executives of Cape County. 


Kelsey said the seller, Cape Girardeau based Midwest Painting, had outgrown the 3,280 SF building and purchased a larger facility at 758 Enterprise in Cape Girardeau. The Lorimont broker also handled that transaction back in November.

Jan. 4, 2019

Perryville Sears Building Has New Owner

A Perryville commercial retail property that currently is occupied by the Sears retail store in Perryville, has been recently sold.  Tom Kelsey, commercial broker with Lorimont Commercial Real Estate, who represented the sellers confirmed the real estate sale closed last week on the property owned by John and Lisa Staggs.  The local buyers were represented by Tracey Hagan with RE/MAX Realty Experts in Perryville.  

The 7,861 SF retail building with rear warehouse facility and loading docks is located at 206 Progress Street, one of the newer commercial developments in Perryville.  The real estate transaction involved only the building and property and not the Sears contract business.  Kelsey said the building was originally built for and has been continuously occupied by a Sears contract operator at that location.

Dec. 20, 2018

Bootheel In-Home Care Opens Cape Office

New Madrid based Bootheel In-Home Care has opened an office in the Shawnee Center development in Cape Girardeau according to Tom Kelsey, Broker with Lorimont Commercial Real Estate, who handled the lease transaction.  The company was previously located in Scott City and outgrew that facility according to Kelsey.  

The home health agency offers a variety of services including personal care, homemaker and companion, skilled nursing visits, general health assessments, medicine set up and administration, advanced medical care and respite services.  Bootheel focuses on healthcare services  that are personalized and flexible to meet their patient’s specific needs. From a few hours per day, a few days per week to around-the-clock personal care, they will custom-tailor a homecare package to meet a family's specific needs.  The newly opened office is specifically located at Suite 300 at 623 S. Silver Springs Road.

Dec. 14, 2018

Kelsey Top Commercial Producer for 2018

Among those receiving the prestigious Award of Excellence designation for the year 2018 were Tom Kelsey, president and broker for Lorimont Commercial Real Estate 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 2018 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 23 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, Cape Girardeau
Nov. 30, 2018

Midwest Painting to Relocate

The former Hi-Tech Automotive property at 758 Enterprise has been recently sold to Midwest Painting and Wallcovering of Cape Girardeau.  Tom Kelsey, broker with Lorimont Commercial Real Estate handled the sale to the Cape Girardeau based commercial painting contractor.  Kelsey said Barrows, owner of Hi-Tech Automotive, has decided to retire and close the auto repair business back in late summer.  Barrows had operated at that location since the mid 1980's.  

Midwest Painting plans on expanding the office areas in the 4,000 SF industrial building and making other modifications, most likely relocating sometime early next year.  The new buyer is a commercial, industrial, and residential contractor specializing in painting, drywall hanging, finishing, and wallpaper installation.  Kelsey said the business had outgrown their former location at 2121 Bessie Street and the new building and location will enable them to continue to expand.

Oct. 16, 2018

U-Haul Purchases Former Magna-Tel Property

The former Magna-Tel property at 775 S. Kingshighway in Cape Girardeau has been purchased by U-Haul International.  Tom Kelsey, broker with Lorimont Commercial Real Estate who handled the sale, confirmed the real estate transaction had been finalized earlier this week.  Kelsey said he understands the 27,100 square-foot manufacturing, office and operations building will be converted to a public and self-storage operation by the new owners.  Additionally, the property included a large former rear employee parking lot that additional new self-storage units would be constructed.

U-Haul presently operates a truck and trailer rental facility, service center along with a section of self-storage units just across Kingshighway at the intersection of Shawnee Parkway and South Kingshighway.  Kelsey said the company will continue to operate at that location and this new property acquisition will expand their storage business. U-Haul International was founded in 1945 with headquarters in Phoenix and operates in all 50 U.S. states and 10 Canadian provinces. Magna-Tel was a manufacturer and marketing company of magnetic advertising items and at one time produced and sold identification signs for various industries including student driving vehicles.  The company owned by the Hastings family ceased operations a couple of years ago.  No sales price was disclosed however the asking price on the Lorimont website indicates $745,000.

Sept. 20, 2018

Rosati's Pizza Moving Into Town Plaza

A new restaurant franchise known for Chicago-style pizza is moving into the former Buffalo Wild Wings location in Town Plaza, slated to open in early 2019.  Rosati's Pizza Sports Pub will occupy the space, said Jason Niswonger with Thomas Rhea Pizza LLC. "There are over 200 Rosati's restaurants across the country," Niswonger said. "We're in a pocket where they don't exist."

Niswonger said the newest layout concept for Rosati's restaurants is a sports pub, and that's the atmosphere the Cape Girardeau location will have, at 2136 William St., Suite 120.  Tom Kelsey, commercial broker with Lorimont Commercial Real Estate in Cape Girardeau, handled the transaction, Niswonger said. Illinois has more than 80 Rosati's restaurants, but the Cape Girardeau site is the only Missouri location listed on the company's website, as of Wednesday afternoon. Rosati's has at least one restaurant listed in 14 states, according to the website.

The menu is robust, Niswonger said, though Rosati's is known for its Chicago deep-dish pizza -- and its thin crust.  The chain also offers sandwiches and pasta, and, Niswonger said, in Cape Girardeau, Rosati's will do delivery and carryout.  Niswonger said the franchise has been "very accommodating," working with Thomas Rhea Pizza to develop the franchise, and he's anticipating working with the city and state through their processes.  "We will have to hire an entire crew, so when it gets closer to time, we'll definitely be looking," Niswonger said, adding he hopes doors will open as early as January