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Hyundai Translead Signs 1.4 MSF Industrial Lease in Joliet, Illinois

Kristin Harlow — Fri, 10 Apr 2026 13:53:18 +0000

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.

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Newmark Arranges $41M Sale of Michigan Avenue Retail Space in Chicago

Kristin Harlow — Fri, 10 Apr 2026 12:48:09 +0000

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.

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Stream Realty Partners to Handle Leasing, Management for 567,531 SF Office Tower in Chicago

Kristin Harlow — Fri, 10 Apr 2026 12:47:19 +0000

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.

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CBRE Brokers Sale of 126,335 SF Flex Industrial Property in Milwaukee

Kristin Harlow — Fri, 10 Apr 2026 12:46:08 +0000

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.

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McCarthy Tops Out 14-Story SSM Health Cardinal Glennon Children’s Hospital in St. Louis

Kristin Harlow — Thu, 09 Apr 2026 13:20:37 +0000

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.

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nbkc bank Acquires 127,000 SF Headquarters Building in Metro Kansas City

Kristin Harlow — Thu, 09 Apr 2026 13:19:44 +0000

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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Stage Equity Sells 52,126 SF Medical Office Campus in Elk Grove Village, Illinois

Kristin Harlow — Thu, 09 Apr 2026 13:19:05 +0000

ELK GROVE VILLAGE, ILL. — Stage Equity Partners has sold the Elk Grove Village Medical Campus, a 52,126-square-foot campus with four medical outpatient buildings in metro Chicago. Private capital group Casa Avore was the buyer. Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof, Jesse Greshin, Trent Jemmett and Kevin Kobe of CBRE represented the seller. Fresenius Medical Care is the anchor tenant. Other tenants include Midwest Sports Medicine & Orthopaedic Surgical Specialists, Medical Center Dental Associates and Nephrology Associates of Northern Illinois and Indiana. The campus was 95 percent occupied with a weighted average length of tenancy in excess of 20 years at the time of sale.

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JLL Opens New Office at O’Hare Plaza in Chicago

Kristin Harlow — Thu, 09 Apr 2026 13:18:11 +0000

CHICAGO — JLL has opened its new office at O’Hare Plaza, a Class A office complex located at 8755 W. Higgins Road near the Chicago O’Hare International Airport. The brokerage giant says that the new office uses a more efficient footprint that emphasizes amenity-rich design, communal workspaces and flexibility. The 5,748-square-foot space features city views, breakout areas, upgraded conference facilities and access to shared building amenities, including a tenant lounge with a restaurant/bar and outdoor spaces. “This move is a tangible example of what we recommend to clients: create a workplace that earns the commute through experience, flexibility and thoughtful design,” says Marcellus Parker, head of corporate real estate, Americas, at JLL. Sustainability and employee well-being were core considerations throughout the design and build-out. The office features LED lighting, occupancy sensors and daylight sensors in open office areas, indoor air quality sensors and biophilic elements such as planters. The layout prioritizes access to natural light, with shared spaces such as the open office, meeting rooms and collaboration areas located along the window line. Height-adjustable desks and a range of meeting and collaboration settings support different work styles, while high-performance acoustic glass and sound-mitigating phone booths provide privacy. Open office workstations…

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Three Narratives Shaping Next Chapter of Chicago’s Office Market

Kristin Harlow — Thu, 09 Apr 2026 12:00:00 +0000

By Denes Juhasz, NAI Hiffman Two different star performers are emerging in Chicago’s suburban and downtown office markets. Practical Class B properties are gaining traction in the suburbs, while glitzy Class A+ trophy towers continue to outperform downtown. As the office sector adapts to post-pandemic workplace realities, the 278 million-square-foot metro Chicago office market ended 2025 with a 25.5 percent overall vacancy rate and 1.8 million square feet of negative net absorption. The suburban market closed 2025 with positive net absorption totaling 282,285 square feet, while overall vacancy held steady at 26.2 percent, largely consistent with the year-end 2024 level of 26.3 percent. Downtown, tenant space reductions and relocations continued to take a toll, with nearly 2.1 million square feet of negative net absorption recorded in 2025. Vacancy rose to 24.9 percent, up from 23.6 percent at year-end 2024. Well-performing assets and a reduction in inventory are helping stabilize the market, albeit unevenly. Three distinct trends are emerging: an outperformance of well-positioned Class B suburban properties, a continued flight to trophy assets in the central business district (CBD) and the conversion of obsolete buildings to alternative uses across the region. Rise of suburban Class B One of the most notable…

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

Kristin Harlow — Wed, 08 Apr 2026 13:45:15 +0000

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

Kristin Harlow — Wed, 08 Apr 2026 13:44:35 +0000

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

Kristin Harlow — Wed, 08 Apr 2026 13:42:32 +0000

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

Kristin Harlow — Wed, 08 Apr 2026 13:41:42 +0000

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

Kristin Harlow — Tue, 07 Apr 2026 13:02:14 +0000

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

Kristin Harlow — Tue, 07 Apr 2026 13:01:38 +0000

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

Kristin Harlow — Tue, 07 Apr 2026 13:01:01 +0000

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

Kristin Harlow — Tue, 07 Apr 2026 13:00:06 +0000

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

Kristin Harlow — Mon, 06 Apr 2026 13:46:58 +0000

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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McCollom Realty Sells El Cameno Plaza Retail Property in Metro Chicago

Kristin Harlow — Mon, 06 Apr 2026 13:46:20 +0000

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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Greenstone Partners Brokers $4.8M Sale of Indianapolis Industrial Building

Kristin Harlow — Mon, 06 Apr 2026 13:45:06 +0000

INDIANAPOLIS — Greenstone Partners has brokered the $4.8 million sale of a 60,000-square-foot shallow-bay industrial property located at 450 S. Kitley Ave. on the east side of Indianapolis. The two-tenant building is fully leased. Jason St. John of Greenstone represented the seller and procured the buyer, which closed the transaction 30 days after execution of the purchase and sale agreement. Both tenants are operating below prevailing market rents, providing a future revenue growth path upon lease rollover, according to Greenstone.

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