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DevelopmentLife SciencesMidwestMissouri

Tarlton Begins $100M Redevelopment Project for Washington University Bioscience Hub in St. Louis

by Kristin Harlow

ST. LOUIS — Tarlton is providing preconstruction and construction management services for “Catalyst: Powered by WashU,” a new startup hub for bioscience companies in the Cortex Innovation District from BOBB LLC, an affiliate of Washington University. The $100 million, 163,000-square-foot redevelopment project is located in the Central West End of St. Louis and includes the renovation of the 120,000-square-foot, seven-story former headquarters of MERS Goodwill Industries at 4140 Forest Park Blvd. Tarlton will restore the building, which was occupied by MERS Goodwill Industries from 1944 to 2019. The building was originally constructed for Standard Sanitary Manufacturing Co. and is listed on the National Register of Historic Places. The project also includes the construction of a new 50,000-square-foot, four-story addition. Three new elevators will access laboratory and office spaces. The ground-floor lobby will feature a coffee bar and common meeting spaces. HOK is the project architect.

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AcquisitionsMidwestMissouriMultifamily

MMG Arranges Sale of 407-Unit Apartment Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — MMG Real Estate Advisors has arranged the sale and financing of Union Berkley, a 407-unit apartment community in Kansas City. The transaction marks the largest single-property sale ever recorded in Kansas City, according to MMG. The property was built in 2018 and is situated in the riverfront district. Harry Trotter, TJ Wahl, Brett Meinzer, Colson Bayles and Parker Guffey of MMG represented the seller.

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AcquisitionsIllinoisIndustrialMidwest

JLL Brokers Sale of 314,000 SF FedEx Ground Distribution Facility in Niles, Illinois

by Kristin Harlow

NILES, ILL. — JLL Capital Markets has arranged the sale of a 314,000-square-foot FedEx Ground distribution facility located at 5959 W. Howard St. in Niles. Constructed in 2015 as a build-to-suit for FedEx Ground Package Systems Inc., the distribution center features a clear height of 32 feet, 101 dock doors, six drive-in doors and a fully automated material handling system with six-dimensional package scanning and sorting capabilities. The property includes 291,511 square feet of warehouse space, 14,937 square feet of office space, a 5,180-square-foot maintenance facility and a 2,400-square-foot guard building. There are 562 car parking spaces and 546 trailer parking spaces across the site along with a fueling station. The property includes an additional 11.2 acres of land that FedEx currently utilizes for trailer and auto parking. FedEx has operated from the facility since June 2015.

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DevelopmentIllinoisLoansMidwestMultifamily

Maverick Secures $13.5M Construction Loan for Apartment Building in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Maverick Commercial Mortgage Inc. has arranged a $13.5 million stretch senior construction loan for a 30-unit apartment building in Evanston. A Midwest-based debt fund provided the loan. The borrower acquired the site, previously a parking lot, in 2024. The project site is located four blocks west of Northwestern University. Completion is slated for spring 2027.

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DevelopmentIllinoisLeasing ActivityMidwestOfficeRetail

Inspired by Somerset Development Launches Leasing for West Side of Bell Works Chicagoland

by Kristin Harlow

HOFFMAN ESTATES, ILL. — Inspired by Somerset Development has launched leasing for the West Side of Bell Works Chicagoland in Hoffman Estates. The project’s first phase has reached 98 percent occupancy. The former AT&T campus now features a mix of office, retail, dining, residences and hospitality. The redeveloped West Side will include more than 500,000 square feet of new space, including 430,000 square feet of traditional office space with approximately 35,000 square feet dedicated to 16 fully furnished “Ready-to-Wear” suites. These suites are available for flexible short- and long-term leases ranging from 1,000 to 4,000 square feet. A conference center with five conference rooms will accommodate up to 370 people. There will also be 70,000 square feet of retail space. Completion of the West Side is slated for the third quarter of 2026. The East Side now has only 10,000 square feet of space remaining, including an 1,800-square-foot “Ready-to-Wear” suite and two office spaces. Following recent leases from Arjo, Convergint and WT Group, a combined 785 additional employees are at the campus on a daily basis.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges Sale of 192-Unit Aster Apartments in Metro Twin Cities

by Kristin Harlow

COON RAPIDS, MINN. — JLL Capital Markets has arranged the sale and financing for Aster Apartments, a 192-unit luxury apartment community in the Twin Cities suburb of Coon Rapids. The property is located at 3130 Northdale Blvd. NW near Highway 10 and Highway 169. Josh Talberg and Joseph Peris of JLL represented the undisclosed seller. Matthew Schoenfeldt, Patricia Heminger, Rebecca Mitchell and Ryan Planek of JLL arranged acquisition financing on behalf of the buyer, MLG Capital.

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DevelopmentIllinoisIndustrialMidwest

LogiPropCo to Build 171,600 SF Industrial Development Near Chicago O’Hare Airport

by Kristin Harlow

DES PLAINES, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 10-acre site at 424 Howard Ave. in Des Plaines with plans to build a 171,600-square-foot industrial development. Located less than a mile from the Chicago O’Hare International Airport’s north cargo gate, the site sits within two miles of an I-90 four-way interchange. Construction is expected to commence this month. The project will include 35 docks, 136 auto parking spaces and 53 trailer parking spaces. Aaron Martell and Ben Fish of LogiPropCo worked with Tom Rodeno and Mike Senner of Colliers on the land acquisition. The Colliers duo will also serve as the leasing agents. Heitman Architects is the project architect, Jacob & Heffner is the civil engineer and Meridian Design Build is the general contractor. Completion is slated for late summer 2026.

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AcquisitionsIndustrialMidwestNebraskaOffice

Investors Realty Brokers $8.3M Sale of Old Mill Business Campus in Omaha

by Kristin Harlow

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of Old Mill Business Campus in Omaha for $8.3 million. Located just off the West Dodge Road and I-680 interchange, the 66,273-square-foot, multi-tenant flex building was fully occupied at the time of sale. Ember Grummons and JP Raynor of Investors represented the seller, NewStreet Properties. Nick Suarez of Newmark Zimmer represented the buyer, K.C. Residence LLC.

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AcquisitionsIllinoisMidwestRetail

Colliers Negotiates Sale of Two Retail Condos in Chicago’s Southport Corridor

by Kristin Harlow

CHICAGO — Colliers has negotiated the sale of two net-leased retail condos in Chicago’s Southport Corridor. The property at 3541-43 Southport is a 2,400-square-foot storefront leased to Paper Source with a 900-square-foot basement. The other asset is leased to Third Love, a Leap Brand company, and totals 1,150 square feet with a 450-square-foot basement. Both are situated across the street from an Anthropologie store. Chris Irwin of Colliers represented the seller, MDN Development. Westin Kane of Mid-America represented the buyer, JB Realty.

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IllinoisLeasing ActivityMidwestRestaurantRetail

Chipotle Opens at Rock Run Collection in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Chipotle Mexican Grill has opened at Rock Run Collection in Joliet. The new restaurant features a Chipotlane drive-thru pickup lane for digital orders. The location is expected to bring approximately 30 new jobs to the Joliet area. Chipotle joins the now-open Hollywood Casino Joliet and The View at Rock Run Collection, upscale apartments that are currently leasing. Future tenants will include Drury Hotel, Chick-fil-A and Ricky Rockets. Cullinan Properties is the developer of Rock Run Collection, a mixed-use project spanning more than 300 acres at the intersection of I-55 and I-80.

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