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.
CREST HILL, ILL. — Cawley Commercial Real Estate has negotiated a lease for a newly constructed industrial facility totaling 577,422 square feet in Crest Hill on behalf of MWI Property Group. The tenant is a global logistics company. Situated on 37 acres within Crest Hill Business Park, the cross-docked warehouse features a clear height of 36 feet, 104 truck doors, 151 trailer parking stalls, 345 vehicle parking spaces, 14 van stalls, up to 4,000 amps of power and immediate access to the I-55 logistics corridor. Joshua Hearne of Cawley CRE led the leasing assignment, with colleagues Reinier Pranger and Andrew Bobak supporting marketing and leasing efforts. Cawley CRE also assisted MWI on the land acquisition. MWI’s construction affiliate, MWI Construction, served as the design-build general contractor. SPACECO provided engineering services, and Harris Architects provided architectural design services.
MICHIGAN AND NEBRASKA — National daycare franchise The Learning Experience has unveiled plans to open 12 new centers over the next three years, adding 120,000 square feet. Each location will total up to 10,000 square feet of indoor building space with up to a 5,000-square-foot playground. Each center will employ as many as 30 staff members and certified teachers to serve upwards of 180 children between six weeks and six years of age with daycare and early childhood education. Eight are planned for Michigan, with six in the Detroit area and two in Grand Rapids. The other four are planned for Nebraska, evenly split between the Lincoln and Omaha metro areas. The Learning Experience, which is owned by private equity group Harvest Partners, now maintains 491 centers open and operating. The Florida-based franchise opened 57 new centers in 2025 and 29 so far in 2026, with another 305 currently under development.
JOLIET, ILL. — Inland Real Estate Acquisitions LLC has purchased an 859-unit self-storage facility in Joliet, about 40 miles southwest of Chicago. Mark Cosenza and Brett Smith completed the transaction on behalf of an Inland affiliate. Previously an ExtraSpace Self Storage property, the facility will be rebranded and fully managed by Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc. The two-story, 112,209-rentable-square-foot facility was constructed in 2023. The main climate-controlled building is comprised of 764 units and 95 exterior drive-thru units, of which 13 are oversized for RV, boat or large vehicle storage.
CHICAGO — Google has shared new design renderings for the Thompson Center’s atrium in Chicago. The company announced plans to buy the James R. Thompson Center building in 2022. Google has also teamed up with After School Matters to commission a student-designed art piece for the retail concourse. Artist Sanford Biggers has been selected to create a sculpture for the plaza that will honor the Loop’s history of public art. Conceptualized with Architecture Plus Information (A+I), Google is expanding the central opening beneath the 17-story atrium, constructing a cascading staircase integrated with terraced seating and retail offerings. The activated atrium and plaza will feature food, retail and space for seasonal events. The project is slated for completion in 2028. Google opened its Chicago office in 2000 and has grown its employee base in the city to more than 2,000 employees. Google also announced that it will provide $1 million in funding to A Better Chicago to support student attendance.
BERKELEY, ILL. — Dermody has broken ground on the LogistiCenter at Berkeley, a 357,619-square-foot facility at 5300 St. Charles Road in Berkeley, a western suburb of Chicago. The project is a redevelopment of an older, functionally obsolete industrial building. The property will feature a clear height of 40 feet, 57 dock-high doors, 357 car parking spaces and 63 trailer stalls. The project is expected to be available for lease in the first quarter of 2027. Charlie Kenning, Jackie Shropshire and Dan McGillicuddy of JLL are representing Dermody.
CHICAGO — Interra Realty has brokered the $19.2 million sale of Paper Box Lofts, a 35-unit apartment building in Chicago’s River North neighborhood. Joe Smazal and Mark Dykstra of Interra represented the buyer, an affiliate of Los Angeles-based Blatteis & Schnur Inc. The duo also represented the seller, an affiliate of Chicago-based developer Senco Properties Inc. Built in 1906 as a paper and box factory, the building operated as loft offices prior to the seller converting it into luxury apartments in 2024. Amenities include a fitness center, multi-level rooftop deck, storage lockers, a mail room and lobby.
ZIONSVILLE, IND. — The Boulder Group has arranged the $4.5 million sale of a single-tenant retail property net leased to CVS in Zionsville. The building is located at 6511 Whitestown Parkway near the interchange of I-65 and Whitestown Parkway. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a West Coast-based real estate fund, and the West Coast-based 1031 exchange buyer. Approximately 15 years remain on the CVS lease. The landlord has zero ongoing property management responsibilities under the triple net lease structure. CVS Health operates approximately 9,000 retail pharmacy locations across the United States.
KANSAS CITY, MO. — Gantry has secured a total of $50.8 million in two permanent loans to refinance post-construction bridge debt for a pair of recently renovated apartment communities in Kansas City. The 222-unit Palisades Apartments is situated in the Eastside submarket, and the 133-unit Mayfair Apartments is located in the city’s Woodbridge neighborhood. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. The CMBS loans feature five-year terms and fixed interest rates.
CHICAGO — Greenstone Partners has brokered the $4.4 million sale of 1276 W. Washington Blvd., a development site in Chicago’s West Loop neighborhood. Danny Spitz and Malek Abdulsamad of Greenstone represented the buyer and seller. The property consists of a 14,850-square-foot parcel of land owned by a longtime Greenstone client. The buyer plans to build a condominium development on the site.
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