Springfield Business Journal_2021-03-08

SPRINGFIELD BUSINESS JOURNAL · 1 $2.00 · SBJ.NET MARCH 8-14, 2021 · VOL. 41, NO. 33 40 YEARS • YOUR BUSINESS AUTHORITY AGRIBUSINESS Blue Heron Farm & Bakery is shifting sales to brick-and- mortar retail, a move its chief operator says could be a model for other small farms to thrive. PAGE 10 Heer’s building purchased by REIT TLC Properties becomes the iconic downtown property’s manager by Mike Cullinan · mcullinan@sbj.net and Geoff Pickle · gpickle@sbj.net One of Springfield’s most iconic properties has a new owner. The downtown Heer’s building was sold by Kansas City- based Dalmark Development Group to Fargo, North Dakota- based Edgewood Real Estate Investment Trust, according to local officials. In the deal, which closed March 1, Springfield-based TLC Properties Inc. was named the property manager for Heer’s. TLC and Edgewood officials de- clined to disclose financial terms, and Jim Nichols, Dalmark’s found- er and CEO, didn’t return messages seeking comment by press time. A Greene County recorder’s office representative said a deed of trust indicating the ownership change had not been filed in its office as of March 4. Built in 1915, according to the Na- tional Register of Historic Places, the Heer’s building was a longtime department store. It sat vacant for nearly 20 years until it was converted into 80 apartments by Dalmark, ac- cording to past Springfield Business Journal reporting. The $15.8 million redevelopment project wrapped up in late 2015. The Heer’s building additionally has 18,000 square feet of commercial space that was filled in 2016 by health care software firm IntrinsiQ LLC. Abigail Perry, who works in Springfield as Edgewood’s vice president of multifamily asset management, said via MCKENZIE ROBINSON WARRIOR AID Springfield Warrior Sports owner Andy Mariage says his business has received around $24,000 in Paycheck Protection Program loans at a time when he invested in a new building. Banks, small biz benefit ting from PPP money flow Lenders expect loan funds will last through March 31 deadline by Mike Cullinan · mcullinan@sbj.net After several months dormant, a popular coronavirus aid program for businesses has relaunched. The U.S. Small Business Administration’s third round of Paycheck Protection Program COVID-19 relief fund- ing opened Jan. 11. Nearly 2.2 million loans with a value of roughly $156.2 billion had been approved nationally through the end of February. Of that sum, over 56,000 loans valued at nearly $2.8 billion are in Missouri. The program was restarted with $284 billion in new funds from a coronavirus aid bill enacted in December. It has a March 31 deadline to apply. “There’s going to be plenty of money for this particular funding,” said Michael Barrerra, the recently appointed district director for SBA’s Kansas City district office that covers Springfield. “But we still encourage people to get your documents in as soon as you can.” A two-week window started Feb. 24 in which the SBA Sam M. Coryell : The Heer’s building fits with the TLC Properties brand. See LOANS on page 21 See HEER’S on page 15