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DevelopmentIllinoisIndustrialMidwest

Logistics Property Co. to Build 443,160 SF Industrial Property in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 22-acre site in Schaumburg for the development of 390 O’Hare Logistics Park, a 443,160-square-foot industrial property across two buildings. Construction is expected to begin in July. Each 221,580-square-foot building will feature a clear height of 36 feet, 33 docks and parking for 140 cars. The site is within walking distance of the Schaumburg Metra stop and adjacent to a private lot with trailer parking for lease. The location offers immediate access to Route 390 and proximity to the Chicago O’Hare International Airport. Ben Fish and Vince Pergande of LogiPropCo worked with David Haigh and Nick Feczko of NAI Hiffman in sourcing the land. Haigh and Feczko will also serve as the project’s leasing agents. Arete Design Studio is the architect, and Manhard Consulting (Atwell) is the civil engineer. Completion is slated for the third quarter of 2027.

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AcquisitionsIndustrialMichiganMidwest

SRS Real Estate Brokers Sale-Leaseback of 277,425 SF Industrial Facility in Warren, Michigan

by Kristin Harlow

WARREN, MICH. — SRS Real Estate Partners has brokered the sale-leaseback of a single-tenant, 277,425-square-foot industrial facility located at 26661 Lipari Way in Warren. Built in 2006 and situated on 11.7 acres, the property serves as the headquarters and distribution site for Lipari Foods, a wholesale food distributor. Michael Carter and Frank Rogers of SRS represented Lipari Foods in the sale. The buyer was a private investment fund from New York City. Lipari Foods signed a new, corporate-guaranteed 15-year lease. The building features 28,000 square feet of office space and 205,000 square feet of temperature-controlled warehouse space, which includes nearly 23,000 square feet of dock space with a total of 30 dock doors.

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AcquisitionsIndianaMidwestMultifamily

CBRE Negotiates Sale of 268-Unit Multifamily Community in Zionsville, Indiana

by Kristin Harlow

ZIONSVILLE, IND. — CBRE has negotiated the sale of Reserve at William’s Glen, a 268-unit multifamily community in Zionsville. Birge & Held purchased the property from Buckingham Cos. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller. Built in 2001, the asset features a range of one- and two-bedroom floor plans averaging 916 square feet. Amenities include a pool, fitness center, clubhouse, business center, dog park, yoga and meditation room and walking trails.

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AcquisitionsMidwestNebraskaRetail

Investors Realty Arranges $9M Sale of Brentwood Square Shopping Center in Omaha

by Kristin Harlow

OMAHA, NEB. — Investors Realty Inc. has arranged the sale of Brentwood Square Shopping Center in Omaha for $9 million. Brentwood Square Plaza LLC sold the 224,187-square-foot property to Brentwood I Acquisition LLC. Harbor Freight is the anchor tenant. Ember Grummons and Tim Kerrigan of Investors Realty represented the seller. The transaction also included an 89,359-square-foot land lease.

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DevelopmentIndustrialIowaLoansMidwest

Associated Bank Arranges $84M Construction Loan for Manufacturing Facility in Altoona, Iowa

by Kristin Harlow

ALTOONA, IOWA — Associated Bank has arranged an $84 million loan for the construction of a 622,788-square-foot heavy manufacturing facility in Altoona. Enclave is the developer and borrower. The loan was arranged and led by Associated Bank as administrative agent with syndicate lenders First National Bank of Omaha and Wintrust Financial. The project is a build-to-suit for Robinson Inc. to provide flexible production capacity for metal bending, large format cutting, metal forming, welding, fabricating and assembly, and electrical integration. Marking its first manufacturing facility outside of Wisconsin, Robinson will now have close to 1.4 million square feet of manufacturing space across Wisconsin and Iowa to better serve its energy sector customers. The City of Altoona is investing $9 million for infrastructure improvements, and Robinson will invest $76 million for upgrades. The plant will create more than 100 new jobs when completed in early 2027. Valor Contracting, a division of Enclave, is the general contractor. John Rent of Associated Bank handled the loan arrangements and closing.

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AcquisitionsIllinoisMidwestRetail

PCCP, Hutensky Capital Partners Buy 690,000 SF Streets of Woodfield Shopping Center in Metro Chicago

by Kristin Harlow

SCHAUMBURG, ILL. — A joint venture between PCCP and Hutensky Capital Partners has acquired Streets of Woodfield, a 690,000-square-foot shopping center at 601 N. Martingale Road in Schaumburg. Blackstone sold the property for $69 million, according to the Daily Herald. Originally built in 1991, the property is currently 94 percent leased to 22 tenants, including Whole Foods Market, Dick’s Sporting Goods House of Sport, AMC, Restoration Hardware Outlet, Legoland and Dave & Buster’s. The property is located along I-290 adjacent to Woodfield Mall.

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DevelopmentIllinoisMidwestOffice

Glenstar Unveils Renderings for $25M Redevelopment of 40-Story Office Tower in Chicago

by Kristin Harlow

CHICAGO — Glenstar, together with a private investor, has unveiled renderings for the $25 million redevelopment of 200 South Wacker, a 40-story office tower in Chicago. A new amenity experience will span five levels of the 761,775-square-foot building. For the first time since the property’s completion, the entire lobby level and amenity spaces will be redeveloped. A new sculptural staircase will connect the lobby to the river level and second floor. Mojo Coffee will get a refreshed design and remain in its current first-floor location. At the river level, a golf club will feature two simulators, a putting green, lounge seating and ample space for entertaining. The riverfront lounge on the lobby level will feature a full-service bar and grand fireplace that opens directly onto a newly expanded patio with a fire pit and seating area. On the second floor, tenants will find a parlor gaming area, enclosed library and listening lounge. The third floor will offer a new health and wellness club overlooking the river, with dedicated areas for free weights, strength and recovery training, cardio and a group fitness studio offering regularly programmed classes. This area will also include locker rooms, cold plunges and infrared saunas. The entire …

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Leasing ActivityMidwestMinnesotaOffice

The Coven Opens New Coworking Space in Richfield, Minnesota

by Kristin Harlow

RICHFIELD, MINN. — The Coven, a network of coworking spaces, has opened its ninth location. The Coven Richfield marks the company’s sixth location in Minnesota and its seventh franchise-owned space. Located at 6440 Nicollet Ave., The Coven Richfield offers a membership-based workspace for entrepreneurs and professionals. The space is designed to support remote and hybrid workers while strengthening local business communities through connection and shared resources. The locally owned location includes community workspace, conference rooms for up to 14 people, private offices for teams of up to six, private phone rooms, bike storage, gender-neutral restrooms, a parent and prayer room, kitchen space, printing and office supplies, coffee and snacks, and a dedicated parking lot with additional free street parking. Members will also have access to The Coven’s digital community and Nice Healthcare telehealth services. Unique to this location are local art installations, event space and onsite storage. The Coven Richfield is owned by Lori Godding, a wealth management expert; Breanne Kennedy, founder and president of Thrive; and Nadia Siddiqui, vice president of advancement at Women’s Foundation of Minnesota.

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KansasMarket ReportsMidwestMidwest Market ReportsMissouriMultifamily

Multifamily Is Needed for All Income Levels in Kansas City

by Kristin Harlow

By Doug Stockman, Helix Architecture + Design Straddling two states, Kansas City is one of the country’s most distinctive real estate markets. Since 1992, our firm has designed workplace, cultural, higher education and multifamily projects of all types in the city, with specialized expertise in adaptive reuse. We see multifamily as the most active segment in 2026.  Compared with other states, Missouri’s support for new housing projects is about average. Kansas is near the bottom, because the state lacks the revenue to incentivize housing. Inventory on the Kansas side is also less, with most multifamily housing located outside the city. Looking ahead, low-income housing tax credit (LIHTC) incentives will ideally accelerate Kansas City’s biggest market demand — affordable housing. The Kansas City Affordable Housing Set-Aside Ordinance presents some obstacles. To receive city subsidies, multifamily developments must have 12 or more units, 20 percent of which need to be affordable for households earning 60 percent or less of the area median income (AMI). Alternately, developers can pay $100,000 into the city’s Affordable Housing Trust Fund.  Further, developers must navigate a complex process of zoning approvals and community engagement meetings that culminates with a city council hearing. If approved, developers on the Missouri …

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DevelopmentKansasMidwestMixed-Use

Acclivity Capital to Develop 58-Acre Clare Crossing Mixed-Use Project in Gardner, Kansas

by Kristin Harlow

GARDNER, KAN. — Colorado-based developer Acclivity Capital is building Clare Crossing, a 58-acre mixed-use project in Gardner. Block & Co. Inc. Realtors is handling retail leasing. Plans call for drive-thru and sit-down restaurants, small-shop and multi-tenant retail and complementary uses such as truck stops, gas stations, hotels, medical offices, automotive services and financial institutions. All pad sites are available for lease, sale or build-to-suit. Mill Creek Residential Trust LLC will develop the residential component of Clare Crossing. Plans call for a 247-unit build-to-rent townhome community featuring two-, three- and four-bedroom residences with private entrances and attached garages. Homes will average 1,727 square feet. Amenities will include a pool, clubhouse, fitness studio, landscaped courtyards, controlled-access guest technology and high-speed internet service. Additional project partners include All Pro Capital LLC and Arvest Bank. Grant Summers and Daniel Brocato of Block & Co. are the retail leasing agents.

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