Monday, January 19, 2026
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Midwest

Affordable HousingDevelopmentMidwestMultifamilyOhio

Frontline Development, Woda Cooper Break Ground on $17.6M Affordable Housing Community in Cleveland

by Kristin Harlow

CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a 54-unit affordable housing development that will provide housing options for residents earning up to 80 percent of the area median income in Cleveland. The $17.6 million project is backed by a combination of public and private funding. Located at the convergence of Hough and University Circle, Gordon Crossing sits at the heart of two neighborhoods. Hough is known for its revitalization, home to generations of families and a growing wave of investment. University Circle is a hub of institutions such as hospitals, universities and cultural anchors. The four-story development will feature 42 two-bedroom units and 12 three-bedroom apartments. Residents will have access to a community room with kitchenette, onsite management office, parcel room and outdoor spaces. Projected rents range from $362 to $1,699, depending on household income and unit size. The development is expected to house a diverse mix of residents, including caregivers, educators, hospitality and retail workers, civil servants and others. Gordon Crossing is supported by an equity investment from RBC Capital, utilizing housing tax credits allocated by the Ohio Housing Finance Agency (OHFA). Lenders include Dollar Bank, CF Bank, the …

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $3.4M Sale of Retail Property in Urbana, Illinois

by Kristin Harlow

URBANA, ILL. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points in Urbana. The 12-suite retail property consists of two strip centers totaling 29,595 square feet that were 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus & Millichap Capital Corp. secured a $2.7 million acquisition loan on behalf of the buyer. The 10-year loan features a 6.74 percent interest rate with a 30-year amortization period and 80 percent loan-to-value ratio.

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AcquisitionsIndustrialMichiganMidwest

TruCore Investments Acquires 30,770 SF Industrial Building in Lansing, Michigan

by Kristin Harlow

LANSING, MICH. — TruCore Investments has acquired a fully leased industrial building totaling 30,770 square feet at 4908 Contec Drive in Lansing. Built in 1999, the facility sits on 2.2 acres and features 24,050 square feet of warehouse space and 6,720 square feet of office space. There are 55 parking spaces, two conference rooms, a reception area, breakroom, two docks, two drive-in doors and a 24-foot warehouse ceiling height. The property is fully leased to Extend Your Reach, a full-service mail and marketing company. Christopher Miller of Martin Commercial Properties brokered the transaction.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges Two Multifamily Sales in Suburban Chicago Totaling 53 Units

by Kristin Harlow

DOLTON AND OAK LAWN, ILL. — Interra Realty has arranged two multifamily sales in suburban Chicago totaling 53 units. A three-building, 41-unit portfolio in Dolton sold for $3.2 million, while a 12-unit building in Oak Lawn transacted for $1.8 million. Michael Duckler of Interra represented the confidential buyers and sellers in both deals. The Dolton portfolio was nearly fully leased at the time of sale. Half of the units have recently undergone full or partial renovations, including new laminate flooring and updated kitchens. The Oak Lawn asset was fully leased at the time of sale. The price represented one of the highest price-per-unit sales in Oak Lawn in the last decade, according to CoStar data.

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Leasing ActivityMichiganMidwestOffice

BrainWise Psychotherapy Expands at One Crosstown Plaza in Kalamazoo, Michigan

by Kristin Harlow

KALAMAZOO, MICH. — BrainWise Psychotherapy has expanded its practice at One Crosstown Plaza in Kalamazoo. The practice opened its newly expanded space on March 1. After initially opening in a 1,250-square-foot space in 2024, BrainWise now occupies 4,353 square feet on the fourth floor of 555 Crosstown Parkway. The expansion enables the practice to onboard more therapists. BrainWise offers both in-person and online sessions for mental health support. Kara Schroer of NAI Wisinski of West Michigan represented the landlord in the lease with BrainWise.

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IndustrialMarket ReportsMichiganMidwestMidwest Market Reports

Detroit’s Industrial Market Remains Resilient Despite Potential Concerns

by Kristin Harlow

By Jason Capitani, L. Mason Capitani/CORFAC International The automotive industry and business as a whole have always operated in cycles. Looking back at 2009, when Southeast Michigan faced significant challenges, the region’s recovery in the years that followed shows how resilient the local economy can be. Yet, as we navigate today’s post-COVID landscape, some still hope for a more gradual and stable recovery. Though questions remain about whether Detroit should have seen a market correction years ago, or if electric vehicle programs have artificially propped up the economy, only time will tell. Michigan’s jobless rate hovers around 4 percent, lower than the national average of over 7 percent, marking the lowest level since before the pandemic. The state has added over 450,000 jobs since 2020. While the automotive sector remains dominant, other thriving industries include advanced manufacturing, defense, IT, medical devices, food processing and logistics. 2025 outlook: early weakness with potential for shift Demand for industrial space in late 2024 and early 2025 has been weaker, with net absorption at its lowest since 2021. This dip might signal a shift in the auto industry, with some speculating a return to hybrid or combustion engine production, though these decisions take time …

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AcquisitionsBuild-to-RentMidwestMinnesotaNorth DakotaSingle-Family Rental

Cushman & Wakefield Brokers Sale of 601-Unit Build-to-Rent Portfolio in Minnesota, North Dakota

by Kristin Harlow

MINNESOTA AND NORTH DAKOTA — Cushman & Wakefield has brokered the sale of a portfolio of 601 recently developed build-to-rent homes located throughout the Fargo/West Fargo/Moorhead metro areas in the bordering states of North Dakota and Minnesota. The sales price was undisclosed, but the price is the highest valued multifamily sale in North Dakota’s history, according to Cushman & Wakefield. Units range from three to five bedrooms, and the homes average 7.2 years old. Kevin Phelan, Pat Knowlton and Jeff Dimmen of Cushman & Wakefield, along with Jennifer Stein Real Estate Inc., represented the seller, Meridian Mortgage LLC. An affiliate of Christianson Cos. was the buyer.

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AcquisitionsDevelopmentIndustrialLee & AssociatesMidwestWisconsin

Lee & Associates Negotiates $24.5M Land Sale in Southeast Wisconsin Slated for Industrial Development

by Kristin Harlow

CALEDONIA, WIS. — Lee & Associates has negotiated the $24.5 million sale of 223 acres of land in Caledonia within Southeast Wisconsin. The site was formerly known as South Hills Country Club. The transaction marks the largest land acquisition in Southeast Wisconsin since Microsoft acquired 467 acres in late 2023, according to Lee & Associates. Thomas Boyle of Lee & Associates represented the buyer, New York-based Ashley Capital, which plans to build a 4 million-square-foot industrial park on the site. Named South Hills Commerce Center, the project will feature 10 buildings ranging in size from 218,400 to 554,000 square feet. Hintz Real Estate Development Co. LLC was the seller.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Arranges $8M Sale of Multifamily Portfolio Near University of Chicago

by Kristin Harlow

CHICAGO — Kiser Group has arranged the sale of a two-building multifamily portfolio located near the University of Chicago for $8 million. The portfolio includes 5111 S. University Ave. (41 units) and 5135 S. Blackstone Ave. (36 units). The properties are situated on residential streets in Hyde Park and feature a mix of studio and one-bedroom units. The portfolio was 98 percent leased at the time of sale. Lee Kiser, Kyle Sissell and Will Cornish of Kiser represented the seller, TLC Management, while Katie LeGrand and Jacob Price of Kiser represented the buyer, Harbor Property Management LLC.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $6.1M Sale of Diamonds Direct-Occupied Retail Property in Metro Chicago

by Kristin Harlow

OAK BROOK, ILL. — Marcus & Millichap has brokered the sale of a retail property net leased to Diamonds Direct in the Chicago suburb of Oak Brook for $6.1 million. Located at 1150 W. 22nd St., the single-tenant building totals 6,000 square feet and is part of the 17-acre Oak Brook Commons mixed-use development. There are just under 14 years remaining on the tenant’s lease. Nicholas Kanich of Marcus & Millichap represented the seller, a global real estate investment manager. A broker with a boutique Chicago firm procured the buyer, a family partnership based in South Dakota completing a 1031 exchange.

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