Midwest

JLL Arranges $155M Construction Loan for Buckeye Yards Industrial Development in Columbus

by Kristin Harlow November 10, 2026

COLUMBUS, OHIO — JLL Capital Markets has arranged a $155 million construction loan for Buckeye Yards, a four-building industrial development totaling 1.8 million square feet in Columbus. The project is being developed on a former rail yard site west of downtown Columbus. The first phase of the master-planned development will encompass 153 acres of logistics and distribution space. Danny Kaufman, Lucas Borges, Brian Walsh, Michael Gurwin and Emma Berner of JLL worked on behalf of the borrower, Xebec and its institutional capital partner, to secure a loan through Oxford Properties. Buckeye Yards is the redevelopment of a former Norfolk Southern rail yard into a large-scale logistics campus. Upon completion, the first phase will feature four buildings ranging from approximately 205,000 square feet to more than 910,000 square feet. The development will include both rear-load and cross-dock configurations, clear heights ranging from 36 to 40 feet, 349 dock doors, 1,180 automobile parking spaces and 477 trailer parking stalls. The property will benefit from a 10-year tax abatement structure.

November 10, 2026

Acquisitions Hospitality Illinois Midwest

Hunter Advisors Brokers Sale of 262-Room Embassy Suites Hotel in Metro Chicago

by Kristin Harlow November 10, 2026

LOMBARD, ILL. — Hunter Advisors has brokered the sale of the Embassy Suites by Hilton Chicago Lombard Oak Brook, a 262-room hotel in Lombard. Spencer Davidson and David Perrin of Hunter Advisors brokered the transaction. Endeavor Hotels acquired the asset. The 10-story, all-suite property was built in 1989 and is located at 707 E. Butterfield Road. Amenities include 5,875 square feet of meeting space anchored by the 2,016-square-foot Butterfield Ballroom, a complimentary breakfast and evening reception, Stacks Grilled Cheese & Bar, an indoor pool, a fitness center and business center.

November 10, 2026

Acquisitions Michigan Midwest Multifamily Seniors Housing

Marcus & Millichap Negotiates $26M Sale of Seniors Housing Community in Ann Arbor

by Kristin Harlow November 10, 2026

ANN ARBOR, MICH. — Marcus & Millichap has negotiated the $26 million sale of Brookhaven Manor, a 134-bed independent living facility in Ann Arbor. Jim Knapp and Justin Knapp of Marcus & Millichap represented the seller and procured the institutional buyer. Constructed in 1988 on 6.7 acres near the University of Michigan and Michigan Health, Brookhaven Manor was renovated in 2015. The property features one- and two-bedroom units, 85 percent of which have been upgraded.

November 10, 2026

Development Industrial Midwest Wisconsin

Briohn Building Corp. Breaks Ground on 112,500 SF Industrial Facility in Cudahy, Wisconsin

by Kristin Harlow November 10, 2026

CUDAHY, WIS. — Briohn Building Corp. has broken ground on a 112,500-square-foot industrial facility for developer Twelve2 in Cudahy. The precast concrete building, located at 5030 S. Pennsylvania Ave., will feature 104,000 square feet of warehouse space along with office space and is planned to support around 60 jobs once operational. Frontera Worldwide, a logistics company based in Cudahy, has signed on as the building’s tenant. Completion is slated for spring 2027.

November 10, 2026

Development Illinois Industrial Midwest

LogiPropCo to Build 1.3 MSF Industrial Facility in Joliet, Illinois

by Kristin Harlow November 9, 2026

JOLIET, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 74-acre site at 23960 S. Houbolt Road in Joliet. Located in the I-80 corridor, the site offers immediate proximity to BNSF’s Logistics Park Chicago Intermodal and Union Pacific’s Global 4 Intermodal Terminal. Construction will commence in spring 2027. When complete, the project will total 1.3 million square feet and feature a clear height of 40 feet, cross-dock loading and ample car and trailer parking. Through the Houbolt Road extension, the site also has direct access to I-55 and I-80. Ben Fish and Vince Pergande of LogiPropCo worked with Ryan Klink of Cushman & Wakefield on the transaction. Klink, alongside colleagues Jason West and Sean Henrick, will serve as the project’s leasing representatives. The spec building, also available as a build-to-suit, is expected to deliver in spring 2028. Architects Plus Design is the project architect, and Jacob & Hefner Associates is the civil engineer.

November 9, 2026

Loans Midwest Multifamily Wisconsin

MMCC Arranges $34M in Financing for Wisconsin Multifamily Property

by Kristin Harlow November 9, 2026

STEVENS POINT, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged $34 million in financing for North Side Yard, a newly developed multifamily property with 213 units in Stevens Point. Robert Bhat of MMCC secured the loan through a national bank on behalf of a private client. The five-year, nonrecourse loan features a 75 percent loan-to-value ratio, five years of interest-only payments and a 6.8 percent interest rate. North Side Yard is a three-building complex with ground-floor retail and office suites. The property offers studio, one- and two-bedroom units.

November 9, 2026

Affordable Housing Development Midwest Multifamily Ohio Seniors Housing

Jonathan Rose, COF to Undertake $32.8M Rehabilitation of Ohio Seniors Housing Community

by Kristin Harlow November 9, 2026

ASHTABULA, OHIO — Jonathan Rose Cos. and Community Opportunity Fund (COF) have unveiled plans for a $32.8 million rehabilitation of Ashtabula Towers, a 202-unit affordable seniors housing community in Ashtabula. The property was developed in the 1970s. the renovation will address building systems, resident amenities and in-unit improvements. The project will preserve access to affordable housing for households earning up to 60 percent of the area median income, while existing Section 8 affordability commitments will be extended for an additional 20 years. KeyBank Community Development Lending and Investment is serving as both investor and permanent lender, with additional financing provided through tax-exempt bonds issued by the Ashtabula City Port Authority and tax credits allocated by the Ohio Finance Agency. COF secured a $3.9 million Community Project Funding grant, which will fund upgrades to the building’s heating and cooling systems.

November 9, 2026

Acquisitions Illinois Industrial Midwest

Newmark Brokers Sale of 79,540 SF Industrial Building in Aurora, Illinois

by Kristin Harlow November 9, 2026

AURORA, ILL. — Newmark has brokered the sale of a 79,540-square-foot industrial building located at 3615 Exchange Ave. in Aurora. Corey Chase of Newmark arranged the sale. Situated within Meridian Business Park, the property sits on 4 acres and offers convenient access to I-88. The buyer plans to utilize the facility to support the expansion of its U.S. operations, using the property for warehousing, storage and distribution. The seller was a private entity.

November 9, 2026

Acquisitions Illinois Midwest Office

Cushman & Wakefield Arranges $115M Sale of Chicago Office Tower

by Kristin Harlow November 6, 2026

CHICAGO — Cushman & Wakefield has brokered the $115 million sale of 225 W. Wacker Drive, a Class A office tower overlooking the Chicago River in downtown Chicago. Prime Finance and Hines purchased the property from Spear Street Capital. The 31-story, 651,000-square-foot building is situated where Chicago’s West Loop and River North neighborhoods converge. Tenants include Cushman & Wakefield, which will remain an anchor tenant under the building’s new ownership. Cody Hundertmark, Tom Sitz, Jeremiah Olsen and Kelsey Berry of Cushman & Wakefield represented the seller. Jeff Altenau of Cushman & Wakefield advised Prime Finance in sourcing acquisition financing. Cushman & Wakefield is also expected to be retained to oversee property management and agency leasing on behalf of Prime Finance. During Spear Street Capital’s tenure, the property underwent significant capital improvements, including a lobby renovation, upgraded conferencing and collaboration spaces, a hospitality-driven tenant lounge, fitness facilities and an outdoor rooftop terrace. The new ownership plans additional investments, including a re-envisioned lobby-level restaurant and bar.

November 6, 2026

Acquisitions Iowa Midwest Ohio Retail

United Properties Acquires Two Retail Centers in Iowa, Ohio for $34.4M

by Kristin Harlow November 6, 2026

DAVENPORT, IOWA AND MANSFIELD, OHIO — United Properties Corp. has acquired two retail centers in Iowa and Ohio for a total price of $34.4 million. The company now owns more than 10 million square feet. Village Shopping Center in Davenport totals 233,100 square feet. The sales price was $23.9 million. Anchored by Ross Dress for Less, Ollie’s Bargain Outlet, Five Below and Pet Supplies Plus, the property is 91 percent occupied. Appleseed Center in Mansfield totals 147,254 square feet. The purchase price was $10.5 million. Anchor tenants at the property include Ollie’s Bargain Outlet, Ace Hardware and Dollar Tree.

November 6, 2026

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