SRC Holdings Corp. subsidiary Southwest Missouri Investments Inc.’s December purchase of the sprawling former Regal Beloit plant led the way in commercial real estate moves during the fourth quarter, according to Xceligent’s most recent Market Trends report.
On Dec. 21, SRC took control of the 325,355-square-foot building, 2401 E. Sunshine St., that had served as a manufacturing hub for motors and components. Regal Beloit Corp. (NYSE: RBC) announced in 2013 it would lay off around 330 people locally during an 18-month transition to move operations to other Regal facilities in the U.S. and Mexico.
At the time, SRC CEO Jack Stack said the purchase for an undisclosed price would give the company additional storage in the short term and the ability to manufacture motors and components in the long term.
Overall, the fourth-quarter industrial vacancy rate moved down to 4.1 percent from 5.6 percent a year earlier, according to Xceligent. The office vacancy rate was down slightly to 6.9 percent, while retail vacancies inched down to 4.9 percent. Xceligent’s Market Trends report tracks vacancy rates across Springfield, Strafford, Rogersville, Ozark, Nixa, Republic and Willard.
In the office sector, the largest fourth-quarter transaction was Branson Retail Investments LLC’s purchase of the over 50,000-square-foot Courtyard Office Center, which has
since been demolished. Developer Scott Tillman, who was listed on a city building permit as the property owner, declined to disclose plans for the 1031 E. Battlefield Road property.
In retail, Stoveworks Leasing LLC bought a 10,920-square-foot building in Ozark from Ozarks Goodwill LLC for undisclosed terms, according to the Xceligent report.
