OWOSSO, MICH. — Magoo’s Pet Outlet has signed a 6,900-square-foot retail lease at the Riverwood Crossing shopping center in Owosso, about 32 miles northeast of Lansing. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the tenant, while Harry Lancz of Professional Property Advisors represented the undisclosed landlord. Riverwood Crossing is anchored by Tractor Supply.
CHICAGO — Greystone has provided a $120 million Fannie Mae loan for the acquisition of Fulbrix Apartments in Chicago’s Fulton Market. The 27-story apartment tower features 375 units at 160 N. Elizabeth St. Eric Rosenstock and Jesse Yodice of Greystone originated the financing on behalf of the borrower, Normandy Real Estate. The loan features a 10-year term with seven years of interest-only payments. The $170 million purchase marked Chicago’s largest multifamily sales transaction since 2023, according to Greystone.
ST. PETERS, MO. — Seniors housing developer Avenue has opened its first Viva Bene active adult community in the St. Louis suburb of St. Peters. Viva Bene is Avenue’s active adult brand and is focused on offering midmarket-priced rental rates. At nearly 200,000 square feet, the St. Peters property offers 161 units. In the three months since its soft opening, the community is 50 percent leased. In addition to providing readily available preventive healthcare, Viva Bene provides a holistic wellness hub with fitness, yoga and meditation classes, a fully appointed gym, healthy cooking workshops and other wellness-focused experiential education. Residents can enjoy pools, pickleball courts and picnic areas. Unique to the Viva Bene model is a third-party collaboration with Sevi Health for preventive health services. Residents can opt to receive care navigation and chronic care management services from Sevi Health and also access primary care from the medical practice’s providers. Viva Bene leases are based on each metropolitan area’s midmarket rental pricing. At Viva Bene St. Peters, one-bedroom units start in the $1600s per month. Garage parking and additional storage units are the only add-on fees. This differs from continuum-of-care communities where monthly prices average $3,450 and fees for buy-in …
MAPLETON, MINN. — Kraus-Anderson (KA) has broken ground on an expansion project at Maple River Schools in Mapleton within southern Minnesota. The project includes two new classrooms and an outdoor track and field facility with a discus and shot-put area and a sand jump pit. Designed by ISG, the expansion is part of a long-range facilities plan funded by a $63.3 million bond referendum passed in February 2020. Construction is slated for completion in July. In fall 2022, KA completed the new K-12 school for the Maple River School District. Located in Mapleton, the centralized campus serves students in the rural communities of Amboy, Good Thunder, Mapleton and Minesota Lake. The 200,000-square-foot school features three gymnasiums, a 500-seat auditorium, early childhood classrooms and a separate middle/high school wing with ag science and career and tech classrooms.
MILWAUKEE — Kiser Group has brokered the sale of a 120-unit multifamily portfolio in Milwaukee’s Near West Side for $5.2 million. The four-property portfolio, which was 93 percent leased at the time of sale, included 2848 W. Wells St., 2929 W. Wisconsin Ave., 2635 W. Juneau Ave. and 2625 W. Juneau Ave. Luis Robles of Kiser brokered the transaction. The buyer owns a significant number of nearby assets. The deal represents the highest-volume multifamily sale in the Near West Side in 2025, according to Kiser.
CLINTON TOWNSHIP, MICH. — Dr. Joseph Allamat, an oral surgeon who operates his business under the company name Oral Surgery Partners, has signed an 11-year lease for 4,930 square feet at 15870 19 Mile Road in Clinton Township. The lease marks the doctor’s second oral surgery center in Macomb County. Andrew Boncore Sr. of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Emil Cherkasov of Forward Commercial represented the tenant.
NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units. A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus. Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms. The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …
CHICAGO — A joint venture between Leopardo Cos. and GMA Construction Group has broken ground on 79 W. Monroe, Chicago’s first office-to-multifamily conversion under the city’s LaSalle Street Reimagined initiative. Ware Malcomb is providing architecture and interior design services for the transformation of the 14-story property, which is known as the Rector Building and is located in The Loop. The project team includes developer R2 Cos. and building owner Lagfin. Built in 1905, 79 W. Monroe is the oldest surviving commercial structure designed by Chicago architect Jarvis Hunt. The renovation project includes converting seven floors to create 117 multifamily units with 41 units designated as affordable housing. There will also be an upscale lobby and an indoor-outdoor amenity floor, including a tenant lounge, fitness center, outdoor areas, bike storage, a dog wash station and gaming room. Preservation and building landmark efforts will focus on retaining and repairing the building’s exterior masonry, including brick, stone and terra-cotta elements. To enhance energy efficiency and reduce costs for future tenants, the existing single-pane windows will be replaced with double-pane insulated glass, matching the existing profile as required by the local Historic Review Board.
DAYTON, MINN. — Opus has completed Dayton Parkway Business Center in Dayton near I-94. The 131,578-square-foot speculative distribution and light manufacturing facility is located at 17800 Territorial Road. The project included tenant improvements for TurbinePROs, a field services provider for rotating equipment at power generation and process plants. TurbinePROs is the first tenant at Dayton Parkway Business Center and is leasing 87,597 square feet, including 12,000 square feet of office space. The new space replaces the company’s 30,000-square-foot home in Rogers. TurbinePROs is currently transitioning into its new location and will be fully operational by the end of the month. Dayton Parkway Business Center’s remaining 43,091 square feet offers prospective tenants six dock doors, two drive-in doors, a clear height of 32 feet, 115 vehicle parking stalls and 14 trailer parking stalls. Opus was the developer, design-builder and architect. Dan Swartz and Austin Lovin of CBRE are marketing the remaining space for lease.
ST. LOUIS — Baker Sterchi Cowden & Rice LLC, a civil litigation defense and trial law firm, has signed a 22,800-square-foot office lease to occupy the entire ninth floor of the Deloitte Building in downtown St. Louis. The firm is relocating from 100 North Broadway. Owner Stanton Road Capital (SRC) is delivering The Outpost, its tenant amenity package, at the Deloitte Building. Scheduled for completion by the end of the year, The Outpost will include a fully modernized fitness center, 100-person conference facility, Wi-Fi-enabled tenant lounge and fresh grab-and-go food-and-beverage options. With the new lease, there has been 72,800 square feet of leasing activity at the Deloitte Building in the last six months. Brandon Wappelhorst, Nick Fiquette and Tom Bajardi of Sansone Group represented SRC in the lease with Baker Sterchi Cowden & Rice. Rick Messey and Rollie Fors of CBRE represented the tenant.