Midwest

MAG Capital Partners Acquires 425,000 SF Industrial Campus in New Castle, Indiana

by Kristin Harlow January 23, 2026

NEW CASTLE, IND. — MAG Capital Partners has acquired an approximately 425,000-square-foot industrial headquarters campus in New Castle, about 44 miles east of Indianapolis. The transaction was a sale-leaseback with New Castle Stainless Plate. Comprising more than a dozen buildings on nearly 128 acres, the property manufactures stainless plate products, serving a diverse range of industries including aerospace, energy, chemical processing and heavy equipment manufacturing. Deutsche Bank provided acquisition financing. Krupa Shah and Phil DiGennaro of Stream Capital Partners represented the seller.

January 23, 2026

Indiana Loans Midwest Retail

MMCC Arranges $7.6M in Financing for Retail Center in Suburban Indianapolis

by Kristin Harlow January 23, 2026

FRANKLIN, IND. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7.6 million in financing for Franklin Commons, an 85,980-square-foot retail center at 1010 N. Morton St. in Franklin, about 20 miles south of Indianapolis. Garrett Fierstein of MMCC secured the financing with a local bank on behalf of the borrower. The five-year loan features a 6.5 percent interest rate, 25-year amortization period and a 70 percent loan-to-value ratio. Anchored by Kroger, the property is also home to Marshalls, Ross Dress for Less, PetSmart and Five Below.

January 23, 2026

Illinois Loans Midwest Multifamily

Lynd Group Receives $66M Refinancing for Multifamily Property in Willow Springs, Illinois

by Kristin Harlow January 22, 2026

WILLOW SPRINGS, ILL. — The Lynd Group has received $66 million in refinancing for Willow Glen, a 224-unit multifamily community in Willow Springs developed by Lynd Development in partnership with West Point Builders in 2023. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million CMBS senior loan originated by Barclays and an $8 million mezzanine loan provided by Ghisallo Capital, which retired the project’s government-backed bonds and simplified the capital stack. Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse, fitness center, pool, courtyard terrace, fireside lounge, game room, pet park and outdoor gathering spaces.

January 22, 2026

Loans Midwest Multifamily Ohio

Lument Provides $53.1M Loan for Refinancing of Luxury Apartment Community in Columbus

by Kristin Harlow January 22, 2026

COLUMBUS, OHIO — Lument has provided a $53.1 million balance sheet loan for the refinancing and lease-up of South Bank at Quarry Trails, a 266-unit luxury apartment community built in 2025 in Columbus. Ryan Duling of Lument led the transaction on behalf of the borrower, Columbus-based Thrive Cos. The loan refinances existing construction debt, funds reserve accounts and supports the lease-up of the mid-rise property. The loan features an adjustable interest rate and interest-only payments for the two-year term. South Bank at Quarry Trails is part of a master-planned development in the Upper Arlington submarket of Columbus. Amenities include a clubhouse, saunas, outdoor pool and the Quarry Trails Metropark. Twenty percent of the units are designated as affordable housing.

January 22, 2026

Illinois Leasing Activity Midwest Office

CBRE Negotiates 44,457 SF Office Headquarters Lease for TransLoop in Chicago

by Kristin Harlow January 22, 2026

CHICAGO — CBRE has negotiated a 44,457-square-foot headquarters lease for logistics company TransLoop at 350 N. Orleans St. in Chicago. TransLoop outgrew its prior Chicago headquarters in just over three years, prompting the company to nearly triple its footprint. The new office, secured through a sublease from Gartner, will allow the company to add up to 200 new jobs in Chicago. CBRE’s Brian McDonnell and Bill Sheehy represented the tenant.

January 22, 2026

Acquisitions Illinois Midwest Retail

Greenstone Partners Arranges $2.6M Sale of Retail Property in New Lenox, Illinois

by Kristin Harlow January 22, 2026

NEW LENOX, ILL. — Greenstone Partners has arranged the $2.6 million sale of The Sherwin-Williams Center, a two-tenant retail property on Lincoln Highway in New Lenox, a southwest suburb of Chicago. The asset is home to Sherwin-Williams and Don Jose’s, a local Mexican restaurant. Jason St. John of Greenstone represented the seller, a Chicago-based developer, and procured the buyer, a Georgia-based investment group.

January 22, 2026

Development Midwest Missouri Office Top Stories

National Geospatial-Intelligence Agency Opens $1.7B Campus in St. Louis

by Hayden Spiess January 22, 2026

ST. LOUIS — The National Geospatial-Intelligence Agency (NGA) has opened its new, $1.7 billion campus in St. Louis. The development will serve as the new campus for the NGA, which is relocating from its existing facility in downtown St. Louis. Situated on a 9-acre heart in the St. Louis Place neighborhood, the N2W campus features a 700,000-square-foot office building, two multi-level parking garages, a secure visitor center, delivery inspection facility and multiple secured access points. McCarthy HITT, a joint venture led by McCarthy Building Cos., partnered with the NGA to deliver the project. McCarthy HIIT also includes HITT Contracting, Black & Veatch Special Projects Corp., Gensler and Akima LLC. A joint venture between Black & Veatch and Gensler also served as the architect-engineer of record for the development. The decision to build the new headquarters was announced in 2016, and major construction began in early 2020. According to McCarthy HIIT, N2W marks the largest federal investment in the history of St. Louis. NGA, which has maintained a significant presence in the city for seven decades, currently employs more than 3,000 local workers. — Hayden Spiess

January 22, 2026

Acquisitions Hospitality Midwest Ohio

Hunter Advisors Negotiates Sale of 408-Room Renaissance Columbus Downtown Hotel

by Kristin Harlow January 21, 2026

COLUMBUS, OHIO — Hunter Advisors has negotiated the sale of the Renaissance Columbus Downtown Hotel, a 408-room property in downtown Columbus. JW Marriott Family Enterprises sold the hotel to Whitestone Cos. Robert Taylor and Sophia Pittaluga of Hunter brokered the sale. Situated at 50 N. Third St., the asset rises 22 stories and features 23,810 square feet of flexible meeting and event space across 18 meeting rooms, along with Latitude 41, Bar 41, an outdoor pool, fitness center and business center. The acquisition marks Whitestone’s third investment in Columbus over the last 10 months.

January 21, 2026

Acquisitions Illinois Industrial Midwest Wisconsin

Brennan Investment Group Buys 801,728 SF Industrial Portfolio in Metro Chicago, Milwaukee

by Kristin Harlow January 21, 2026

CHICAGO AND MILWAUKEE — Brennan Investment Group has acquired an 801,728-square-foot industrial portfolio located across the Chicagoland and Milwaukee markets. The portfolio is comprised of 13 shallow-bay industrial buildings with a diverse tenant mix and a weighted average lease term of more than four years. The Chicago submarkets include I-55, Lake County, Northern DuPage and Central Kane/I-88, while the Milwaukee properties are located within the Airport and Northwest submarkets. Brennan’s Midwest portfolio totals 28 million square feet.

January 21, 2026

Development Midwest Missouri Multifamily

Palmer Square, Marquee Begin Pre-Leasing for Two Luxury Multifamily Communities in Kansas City

by Kristin Harlow January 21, 2026

KANSAS CITY, MO. — Developers Palmer Square Real Estate and Marquee Development have begun pre-leasing efforts for the first two luxury residential spaces within Current Landing, a waterfront development and mixed-use district in Kansas City. Applications for spring 2026 move-ins are now available for River’s Edge Residences and Confluence Residences. Willow Bridge Property Co. is handling property management and leasing. Current Landing is anchored by CPKC Stadium, the world’s first stadium purpose-built for a women’s professional sports team and home of the Kansas City Current. River’s Edge and Confluence offer immediate access to the Kansas City Streetcar’s new Riverfront Extension. River’s Edge places residents closer to the Missouri River than any other apartment community in Kansas City, according to the developers. The community offers a mix of studio, one- and two-bedroom residences along with a limited collection of two-story townhomes. Amenities include work-from-home spaces, a fitness center, spa, resident lounges, two amenity decks, a pool, outdoor kitchens and a putting green. Confluence offers studio, one- and two-bedroom apartments with direct access to public spaces, including Current Landing’s new town square. Amenities include a fitness center, work-from-home spaces, a clubroom, outdoor amenity deck and resort-style pool.

January 21, 2026

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