DETROIT — The Detroit Tigers and Fifth Third Bancorp (NYSE: FITB) have announced that Comerica Park will become Fifth Third Park. The naming rights transition follows Fifth Third’s acquisition of Comerica in February. After the merger, Fifth Third became the largest retail deposit holder in both Michigan and Detroit, established its Michigan regional headquarters at One Campus Martius in downtown Detroit and maintained the Great Lakes Campus in Farmington Hills. Since opening in 2000, the ballpark has anchored Detroit’s sports and entertainment district. Signage updates will roll out during the offseason, and the marquee signage will be installed ahead of the 2027 season. Comerica Park has been the name of the stadium since it opened.
PLAINFIELD, ILL. — Cawley Commercial Real Estate has arranged the sale of a 340,000-square-foot industrial property on 42 acres in Plainfield. Cawley CRE represented the seller in the transaction, with Joshua Hearne leading the assignment. Tower Real Estate Development and RAK Realty Group acquired the property through a joint venture. They plan to reposition the asset from a Class C property to a Class A property. The site is the first industrial facility positioned at the entrance of the new 143rd Street corridor extension, providing direct access to I-55. It also offers access to a former direct CN rail spur and proximity to BNSF rail. Improvements, managed by Redwood Construction Group, will include a complete building reskin with a new precast façade, new mechanical systems, update sprinkler systems, new office build-outs, new dock levelers and doors and conversion to a cross-dock configuration. The south portion of the site and building perimeter truck court lanes will be newly paved, while the existing truck court will remain, with capacity for more than 200 truck stalls or equipment storage.
MINNEAPOLIS — CBRE has signed three new office leases in the Minneapolis-St. Paul market. The brokerage firm signed a 15,586-square-foot lease at Arcadia in Edina for its advisory employees. CBRE’s John Ferlita and John Lorence represented the company. Opus is constructing the 118,000-square-foot, six-story building. CBRE is among the initial tenants scheduled to occupy the property upon delivery. CBRE also signed a 5,871-square-foot lease at U.S. Bancorp Center at 800 Nicollet Mall to provide a downtown option for its advisory employees. CBRE’s Brandon Megal represented the company in the transaction. The U.S. Bancorp Center is a 937,000-square-foot, 32-story building owned by Piedmont Realty Trust that has recently undergone extensive renovations. Additionally, CBRE inked a 27,331-square-foot lease at One Meridian in Richfield to house its BSO, property management accounting and investment accounting and reporting businesses. CBRE’s John Lorence represented the company in the lease. The 204,862-square-foot, eight-story building, also owned by Piedmont Realty Trust, is undergoing renovations. CBRE employees will relocate from Two MarketPointe in Bloomington into the three new office spaces in the first half of 2027. The new offices are part of CBRE’s Workplace360 program, which showcases the company’s “Future of Work” space standards, including technology and collaborative spaces …
HIGHLAND PARK, ILL. — Marcus & Millichap has negotiated the $7.8 million sale of Garrity Square, a 13-suite retail property in Highland Park. The 20,000-square-foot center is located at 1833 Deerfield Road. The asset is anchored by a freestanding Starbucks that has operated at the property since 2002. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller and procured a private investor buyer.
CHICAGO — The 1901 Project owners have revealed renderings for the new Music Hall, a purpose-built live performance venue taking shape on the United Center campus in Chicago. Set to open in 2028 as a centerpiece of the first phase of the 1901 Project, the Music Hall will accommodate 6,000 guests and is being built specifically for live music. New renderings show an intimate performance room with three levels of viewing. The venue bowl has been designed with support from major industry consultants including RIOS, Theater Projects and Kirkegaard. Inside will be bars, merchandise locations and hospitality spaces. Outside, the venue will open directly into the larger 1901 Project campus, connecting guests with new open space, restaurants, retail, parking and a hotel. The 1901 Project is a $7 billion investment that will transform more than 55 acre surrounding the United Center into a mixed-use destination with new public spaces and parks, housing, retail, hospitality, offices and transportation improvements.
BLAINE, MINN. AND LIBERTY, MO. — First Washington Realty (FWR) has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value in excess of $65 million. The acquisitions expand FWR’s portfolio to 21.9 million square feet across 21 states. The Village of Blaine is a 220,685-square-foot center in Blaine, Minn., and Liberty Corners is a 124,808-square-foot property anchored by a 56,000-square-foot Cosentino’s Price Chopper store in Liberty, Mo. Additional tenants include Chipotle and The Big Biscuit.
OMAHA, NEB. — Opus has broken ground on Rainwood Industrial, a 272,076-square-foot speculative industrial facility within Rainwood Industrial Park in Omaha. The project will feature a clear height of 32 feet, 29 dock doors, two drive-in doors and 176 vehicle parking spaces. The building will accommodate up to six users. Opus is the developer and design-builder, and SVPA Architects is the architect. Denny Sciscoe of Lund Co. is marketing the project for lease. Completion is slated for April 2027. Rainwood Industrial Park is located less than two miles from I-680, less than 10 miles from I-80 and directly east of a Google data center.
SOUTH SIOUX CITY, NEB. — Greysteel has brokered the $15.3 million sale of Dakota Pointe, a 143-unit multifamily property in South Sioux City. Built in 1994, the property was fully leased at the time of sale. Units come in one-, two- and three-bedroom floor plans. Greysteel represented the seller. Both the buyer and seller were private investors based in South Dakota.
CHICAGO — JLL has arranged approximately $113 million in construction financing and joint venture equity for an office-to-residential conversion project located along downtown Chicago’s “Magnificent Mile” corridor. The sponsor, Commonwealth Development Partners, purchased the 25-story office building at 500 N. Michigan Ave. in August 2025 in partnership with Triangle Capital Group. That deal traded off-market and fetched a sales price of $5 million. Commonwealth is now in the process of converting the building into a 320-unit apartment community. Construction on the redevelopment began in May and is slated for a spring 2028 completion. The financing package consists of a $71.5 million nonrecourse construction loan from Santander Bank and $41.8 million in joint venture equity that was provided by Washington Capital Management on behalf of one of its institutional clients. Chris Knight, Ryan Planek and Annie Thomas of JLL secured both components of the package on behalf of Commonwealth. Upon completion, the adaptive reuse project will feature studio, one- and two-bedroom units, 64 of which will be designated as affordable housing. The development will offer amenities such as a rooftop pool, fitness center with a yoga room, coworking space, a multi-sport simulator, theater and concierge services. Residents at 500 N. Michigan …
DEKALB, ILL. — BWE has arranged $48 million to refinance a 978,000-square-foot logistics facility occupied by 3M in DeKalb. Mike Guterman of BWE arranged the fixed-rate loan, which features a 55 percent loan-to-value ratio. Griffin Capital, a southern California-based real estate investment and management company, was the borrower. Aegon, a life insurance company lender, provided the loan. Located at 1650 Macom Drive, the property is one of several that are fully leased to 3M in the DeKalb area, totaling around 2.5 million square feet. The building features specialized chemical storage and aerosol rooms, cold storage facilities and containment floors.
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