Wednesday, April 8, 2026
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Midwest

Build-to-RentDevelopmentKansasMidwestSingle-Family Rental

Sallee Breaks Ground on $69M Flint Trails Build-to-Rent Community in Gardner, Kansas

by Kristin Harlow

GARDNER, KAN. — Sallee Development has broken ground on Flint Trails, a $69 million build-to-rent community in Gardner, about 30 miles south of Kansas City. The project will include two- and three-bedroom townhomes with attached garage options. Amenities will include a clubhouse, pool, pickleball court and onsite management and maintenance services. The project is being developed in partnership with CommunityAmerica Credit Union, which is providing financing support. The first units are planned for delivery in late 2027.

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AcquisitionsIllinoisMidwestMultifamily

Standard, Belay Acquire 256-Unit Apartment Property in Lombard, Illinois

by Kristin Harlow

LOMBARD, ILL. — Standard Real Estate Investments has expanded its strategic partnership with Belay Investment Group. The venture will target middle-market, value-add multifamily investment opportunities in the Midwest with a commitment of $50 million. To mark the beginning of the partnership, Standard has completed the acquisition of Martins Point, a 256-unit, garden-style property in Lombard. The asset is located at 2101 S. Finley Road in DuPage County. Built in 1989, Martins Point features 17 buildings along with a clubhouse and maintenance shop. Amenities include a pool, grilling center, fitness center and game room. Planned renovations include enhancements to residences and common areas. Standard now owns 1,092 units in suburban Chicago.

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LoansMichiganMidwestMultifamily

Berkadia Arranges Fannie Mae Loan for 96-Unit Meadowood Townhomes in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — Berkadia has arranged financing for Meadowood Townhomes, a 96-unit, newly constructed multifamily property in Grand Rapids. Aaron Moll, Dominick Ens and Kevin Nimmo of Berkadia secured the loan through Fannie Mae. The borrower is the developer of the property, Grand Rapids-based Wheeler Development Group, which owns and operates the asset under its affiliated property management company, PURE Real Estate Management. The 10-year loan featured a 5.32 percent interest rate with seven years of interest-only payments followed by a 30-year amortization. Meadowood Townhomes was built in 2025.

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AcquisitionsMidwestRestaurantRetailWisconsin

Marcus & Millichap Brokers $2.5M Sale of Chipotle-Occupied Retail Property in Wisconsin

by Kristin Harlow

WAUSAU, WIS. — Marcus & Millichap has brokered the $2.5 million sale of a single-tenant retail property net leased to Chipotle in Wausau. The newly constructed building totals 5,000 square feet. The property is secured by a 15-year, corporate-guaranteed net lease and is the only Chipotle within a 95-mile radius, according to Marcus & Millichap. Jeff Rowlett, Blake Hanlon and Mark Peltin of Marcus & Millichap procured the buyer, Niets Investment Co. Michael Hughes of Marcus & Millichap Capital Corp. secured a five-year loan with a fixed interest rate of 5.65 percent and a 25-year amortization period.

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DevelopmentMichiganMidwestRetail

REDICO Underway on Redevelopment of Fred Lavery Porsche Dealership in Birmingham, Michigan

by Kristin Harlow

BIRMINGHAM, MICH. — REDICO is leading the redevelopment of the Fred Lavery Porsche dealership in Birmingham, following the completed demolition of the dealership’s former facility at 34350 Woodward Ave. Construction is underway on a new, three-story dealership that is slated to open in 2027. During construction, the Porsche sales and service operations have been temporarily relocated to Fred Lavery’s other dealership, Audi Birmingham at 34602 Woodward Ave. The redevelopment project expands the showroom, service operations and onsite parking. The project also includes the demolition of adjacent structures along Haynes Street, enabling a reconfigured layout. The project team includes Sachse Construction as general contractor and Albert Kahn Associates and LZG as architects. The new development will embody the “Destination Porsche” global design philosophy.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $5.1M Sale of Two-Building Multifamily Portfolio in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $5.1 million sale of 2156 and 2158 W. 21st St., two multifamily buildings totaling 24 units in Chicago’s Pilsen neighborhood. Jeremy Morton of Interra represented the confidential buyer and seller. The properties, which were fully occupied at the time of sale, were built in 1893 and renovated in 2023.

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AcquisitionsHospitalityMidwestOhio

Laurel Real Estate Arranges Sale of Red Roof Inn Hotel in Clyde, Ohio

by Kristin Harlow

CLYDE, OHIO — Laurel Real Estate Co., a boutique commercial real estate brokerage and member of Hotel Brokers International, has arranged the sale of the Red Roof Inn hotel in Clyde, a city in northern Ohio. The seller engaged Laurel to manage the disposition as part of a broader portfolio restructuring. A local owner-operator was the buyer. Dan Uhl of Peachtree Group arranged acquisition financing.

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Leasing ActivityMichiganMidwestRetail

YoChef’s Catering Signs 3,022 SF Retail Lease at Chateau Village in Grand Rapids

by Kristin Harlow

GRAND RAPIDS, MICH. — YoChef’s Catering Co. has leased 3,022 square feet at the Chateau Village retail center in Grand Rapids. The space, previously occupied by Pac Brazil Restaurant, will soon become the new home of YoChef’s Kitchen, an expansion of YoChef’s Catering that will introduce a café concept serving breakfast, lunch and dinner. Rod Alderink of NAI Wisinski of West Michigan represented the undisclosed landlord. Founded by Chef Joseff VanHorn, YoChef’s Catering has been serving the West Michigan community since 2009.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges $12.3M Sale of Multifamily Community in Manitowoc, Wisconsin

by Kristin Harlow

MANITOWOC, WIS. — Marcus & Millichap has arranged the $12.3 million sale of Evergreen Townhomes, a 76-unit rental townhome community in Manitowoc. Built in 1999, the property is situated on 2 acres at 4910 Benley Court and totals 91,200 rentable square feet. Dan Bowar of Marcus & Millichap represented the seller, a Florida-based investor, and procured the buyer, a Wisconsin-based investor.

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AcquisitionsIllinoisMidwestRetail

McCollom Realty Sells El Cameno Plaza Retail Property in Metro Chicago

by Kristin Harlow

ORLAND PARK, ILL. — McCollom Realty Ltd. has sold El Cameno Plaza in Orland Park after owning it for 38 years. The retail property at 9931-9985 W. 151st St. features a 54-year lease with 7-Eleven, making it one of the longest 7-Eleven tenancies in the world. Five other tenants occupy the center as well. W.R. “Terry” McCollom, president of McCollom Realty, completed the sale.

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