PITTSBORO, IND. — Faith Technologies Inc. (FTI) is expanding to Pittsboro, about 30 miles northwest of Indiana, and has begun construction on a 500,000-square-foot manufacturing facility within Opus’ Pittsboro Commerce Center. FTI delivers solutions in engineering, construction, manufacturing and clean energy. The new Pittsboro facility will support FTI’s Excellerate brand, which specializes in modular electrical assemblies and energy solutions. The project will create more than 200 skilled manufacturing and electrical jobs. Pittsboro Commerce Center is a new 170-acre industrial development planned by Opus that is located near I-74. Opus sold 47 acres to FTI and is currently completing site infrastructure, including grading, access roads and utilities. FTI is serving as general contractor for its facility, which marks the first building within the development. Opus plans to build out the remainder of the project in phases. The State of Indiana and Hendricks County provided incentive-based tax credits through the Indiana Economic Development Corp. and a property tax abatement through Hendricks County based on FTI’s expected impact on economic growth and job creation in Pittsboro and the surrounding region.
GRAND CHUTE, WIS. — Associated Bank has provided a $32.7 million loan to Toonen Inc. for the construction of The Strata Apartments, a multifamily complex along McCarthy Road in Grand Chute. The 25-building project will include 236 units. Several of the buildings will feature attached or detached garages, and the majority (172) of the units will be two-bedroom floor plans. Construction is underway, and completion is slated for February 2028. Toonen maintains a portfolio of nearly 3,500 units across the Green Bay and Fox Valley areas of Wisconsin. Tim Jorgensen of Associated Bank managed the loan arrangements and closing.
OAK PARK, MICH. — Bernard Financial Group (BFG) has secured a $14 million permanent loan for a 475-unit multifamily property in Oak Park. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Lincoln Towers Apartments LP. A life insurance company provided the loan. BFG will provide servicing for the loan.
CHICAGO — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 51,820-square-foot industrial building located at 4114 Peoria St. in Chicago. The single-tenant property was fully leased at the time of sale. Situated within the Stockyards Industrial Park and constructed in 1969, the building features three docks and parking for more than 45 cars. Zeke Rowan, Adam Haefner, Nick Fazio and Marty Mikaitis of Avison Young represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.
JOLIET, ILL. — Hyundai Translead, a subsidiary of Hyundai Motor Co., has signed a 1.4 million-square-foot lease in Joliet. Industrial Realty Group LLC (IRG) owns the property, which was formerly Caterpillar’s main plant. In addition to the Joliet facility, Hyundai Translead will also move into a second Will County location at the former Lion Electric site. The two expansions will collectively create approximately 2,500 new full-time jobs and represent $450 million of investment. Onno Steger represented IRG on an internal basis. Jerry Sullivan and Ed Wabick of DarwinPW Realty/CORFAC International represented the landlord, while Shamus Conneely of John Greene Commercial represented the tenant.
CHICAGO — Newmark has arranged the $41 million sale of the retail portion of 500 North Michigan Avenue along Chicago’s Magnificent Mile. The 21,565-square-foot space is fully leased to tenants such as Bank of America, Chick-fil-A and Vans. The asset traded at a cap rate of 5.93 percent. Keely Polczynski of Newmark represented the undisclosed seller. The buyer was a private investor.
CHICAGO — FTK Capital has selected Stream Realty Partners to oversee the leasing and property management of 111 W Jackson, a 25-story, 567,531-square-foot office tower located at 111 W. Jackson Blvd. in Chicago’s Central Loop. Ownership is undertaking a strategic reinvestment program to enhance the asset. OTJ Architects is collaborating on the planned improvements, which include updates to the lobby and common areas, expanded amenities and the addition of new spec suites. Plans call for 50,000 square feet of pre-built suites, with an initial 25,000 square feet expected to be completed by late 2026. Matt Lerner and Erica Marshall of Stream will lead leasing, while Charlie Andersen and Jen Bilinski of Stream will oversee property management.
MILWAUKEE — CBRE has arranged the sale of a five-building, 126,335-square-foot flex industrial property in Milwaukee. Minnesota-based Brait Capital purchased the property from Oyster Two Wisconsin Owner LLC for $6 million. CBRE’s Matson Holbrook, Sean Beuche and Patrick Gallagher represented the seller. Built in 1987, the asset features clear heights ranging from 14.5 to 17 feet, several dock-high and drive-in loading doors and ample parking on a 10-acre site. The property was 67 percent occupied at the time of sale.
ST. LOUIS — St. Louis-based McCarthy Building Cos. has topped out construction of the 14-story, 200-bed SSM Health Cardinal Glennon Children’s Hospital in St. Louis. The topping out ceremony signified completion of the building’s structural frame and advanced the hospital toward the planned opening in late 2027. The new facility will incorporate advanced technology, expanded specialty units and a “healing-focused environment.” Plans call for a larger pediatric intensive care unit, new bone marrow transplant unit, increased operating room capacity, a dedicated dialysis unit and private, light-filled NICU, PICU and CVICU spaces. The project team includes Dallas-based architecture and design firm HKS Inc. and St. Louis-based planning and design firm The Lawrence Group. SSM Health is a Catholic, nonprofit health system with care delivery sites in Illinois, Missouri, Oklahoma and Wisconsin.
OVERLAND PARK, KAN. — nbkc bank has acquired a new headquarters building at 7400 W. 110th St. in Overland Park. The new headquarters will accommodate the majority of nbkc’s Kansas City-based employees and include a bank branch. The bank anticipates relocating staff to the building in 2027. nbkc has been headquartered at 8320 Ward Parkway in Kansas City since 2017. The new building in Overland Park is roughly 127,000 square feet. The bank will lease space to third-party tenants. Renovations are expected to commence soon and be substantially completed by the time nbkc employees move in.
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