Midwest

Mid-America Brokers Sale of 428,612 SF Shopping Center in Deerfield, Illinois

by Kristin Harlow November 21, 2025

DEERFIELD, ILL. — Mid-America Real Estate Corp. has brokered the sale of Deerbrook Shopping Center, a Jewel-Osco-anchored shopping center in the Chicago suburb of Deerfield. The 428,612-square-foot property is home to tenants such as Marshalls, Floor & Décor, Sky Zone, Office Depot, Starbucks, Panera, Noodles & Co., Sleep Number, City BBQ, Mattress Firm and Subway. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, a global investment advisor. Core Acquisitions LLC was the buyer. The center offers immediate value-add and redevelopment opportunities, according to Mid-America.

November 21, 2025

Development Indiana Leasing Activity Midwest Office

USA Gymnastics to Open Training Center, Headquarters in Metro Indianapolis

by Kristin Harlow November 21, 2025

NOBLESVILLE, IND. — USA Gymnastics will open its national office headquarters and Training & Wellness Center in Noblesville’s Innovation Mile district. Robert Hess, John Longshore, Stacy Davis and Ramya Gowda of Newmark represented the company in the two-year site selection process. The training center is expected to host National Team camps, competitions, coaching clinics and athlete wellness programs serving all gymnastics disciplines and thousands of athletes across the U.S. The Innovation Mile is a 600-acre business and technology district that is currently home to The Arena at Innovation Mile, the home of the G-League affiliate team to the NBA’s Indiana Pacers, as well as facilities for Caterpillar and the Indiana Orthopedic Institute. Future plans call for a mix of life sciences, healthcare and advanced manufacturing uses in the surrounding area.

November 21, 2025

Illinois Leasing Activity Midwest Office

Colliers Secures 24,800 SF Office Lease for Shamrock in Downtown Chicago

by Kristin Harlow November 21, 2025

CHICAGO — Colliers has negotiated a 24,800-square-foot office lease for Shamrock Trading Corp. at 151 N. Franklin St. in Chicago. With the lease, the Kansas City-based firm establishes a presence in downtown Chicago to complement its location in Lombard, Ill. Tom Volini and Sven Sykes of Colliers represented Shamrock, which is the parent company of a growing family of brands in transportation services, finance and technology. Designed by John Ronan Architects, 151 North Franklin is a 35-story, 807,000-square-foot office tower.

November 21, 2025

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Arranges Sale of Minnesota Multifamily Portfolio for $9.7M

by Kristin Harlow November 21, 2025

ST. CLOUD, MINN. — Marcus & Millichap has arranged the sale of two multifamily properties in the Minneapolis suburb of St. Cloud for $9.7 million. Brookwood Apartments was built in 1987 and includes 102 units across 89,225 rentable square feet. Pine Pointe Apartments, constructed in 1989, features 78 units totaling 73,933 rentable square feet. The properties are less than a mile apart and offer a mix of studio, one-, two- and three-bedroom floor plans. Chris Collins and Evan Miller of Marcus & Millichap represented the seller, a Minnesota-based limited liability partnership. Collins and Matthew Shide procured the buyer, a Minnesota-based limited liability company.

November 21, 2025

Acquisitions Illinois Industrial Midwest

SVN Chicago Commercial Negotiates $1.5M Sale of Industrial Property in Mundelein, Illinois

by Kristin Harlow November 21, 2025

MUNDELEIN, ILL. — SVN Chicago Commercial has negotiated the $1.5 million sale of a 31,600-square-foot industrial property at 404 Washington Blvd. in Mundelein. Situated on 2.4 acres, the property features a large, paved parking lot approved for outside storage and truck parking. The undisclosed buyer plans to use a portion of the building and lease out the rest. SVN Chicago Commercial’s Next Level Team represented the seller and procured the buyer.

November 21, 2025

Development Hospitality Loans Midwest Missouri

X Caliber Structures $285M in Construction Financing for Missouri Resort Development

by Kristin Harlow November 20, 2025

OSAGE BEACH, MO. — X Caliber Capital Holdings LLC has structured a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of the Oasis at Lakeport in Osage Beach. The resort and entertainment project has a total cost of $495 million. Plans call for a Marriott hotel with 402 rooms, a conference center, indoor waterpark, amusement park and various amenities. The $285 million financing consists of $220 million of conventional senior-secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC LLC, and $65 million of Commercial Property Assessed Clean Energy (C-PACE) financing through CastleGreen Finance. The financing marks X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. Rural PACE-X is a proprietary financing solution that provides high-leverage financing for ground-up construction projects in micro-rural areas. The C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance, according to X-Caliber. Gregg Delany, Ken Lorman and Gabe Mashaal of X-Caliber Advisors originated and structured the financing on behalf of Tegethoff Development Co. The project’s energy-efficiency design is estimated to save around $11 million in costs over the lifetime of the improvements. The Oasis at Lakeport is expected to …

November 20, 2025

Acquisitions Iowa Midwest Multifamily Student Housing

Coastal Ridge Acquires Two Student Housing Communities Near Iowa State University

by Kristin Harlow November 20, 2025

AMES, IOWA — Coastal Ridge has acquired two student housing properties serving Iowa State University in Ames. The acquisitions were part of a portfolio that also included a property in Louisiana totaling just under 1,600 beds with a gross asset value of approximately $90 million. The acquisitions mark the firm’s initial deployment of capital from the Coastal Ridge Value-Add Student Housing Fund LP, the company’s inaugural institutional commingled fund. The per-bed cost across the three assets was approximately $56,000. New construction can exceed $100,000 per bed, according to Coastal Ridge.

November 20, 2025

Civic Development Midwest Minnesota

Kraus-Anderson Completes $24.1M Fire Station in Edina, Minnesota

by Kristin Harlow November 20, 2025

EDINA, MINN. — Kraus-Anderson Construction has completed a $24.1 million fire station in the Twin Cities suburb of Edina. The two-story project at 4401 W. 76th St. replaces the former facility on York Avenue. Designed by BKV Group, the 35,464-square-foot development also includes space for the Public Health Division. The fire station features an atrium and lobby, administration areas, training rooms, offices, conference rooms and a large apparatus bay for ambulances, fire and rescue vehicles as well as personal protective equipment storage. The building also features a physical conditioning room that is available to all city employees. The second floor houses dormitories, and the training tower rises five stories. Construction began in fall 2023.

November 20, 2025

Acquisitions Indiana Midwest Retail

Timber Development Buys 20,000 SF Cass Commons Shopping Center in Logansport, Indiana

by Kristin Harlow November 20, 2025

LOGANSPORT, IND. — Timber Development Corp. has purchased Cass Commons Shopping Center in Logansport, a city in central Indiana, for $2 million. The 20,000-square-foot property is shadow anchored by a Walmart Supercenter. Tenants include Maurice’s, Great Clips and Buffalo Wild Wings. Dan Waszak of Quantum Real Estate Advisors Inc. brokered the transaction.

November 20, 2025

Illinois Leasing Activity Midwest Office

Bradford Allen Secures 10,780 SF Office Lease Renewal for Anesi Ozmon in Chicago

by Kristin Harlow November 20, 2025

CHICAGO — Bradford Allen has secured a seven-year, 10,780-square-foot office lease renewal for Anesi Ozmon Ltd. at 161 N. Clark St. in Chicago’s Central Loop. Ben Azulay and Nathan Meisner of Bradford Allen represented the law firm, which handles personal injury, construction accident and workers’ compensation cases. The longtime tenant of the building is having its space reconfigured to include more private offices for attorneys. Designed by Kohn Pederson Fox and built in 1992, 161 N. Clark Street is a 50-story office tower with a 12th-floor tenant lounge, multiple conference rooms, a fitness center, bike storage and an open-air roof terrace with skyline views. First-floor retail tenants include Hannah’s Bretzel, Fifth Third Bank, DHL and Larry’s Shoe Shine.

November 20, 2025

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