Monday, June 16, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Midwest

DevelopmentHospitalityLoansMidwestWisconsin

HALL Structured Finance Provides $41.1M Construction Loan for Dellshire Resort in Wisconsin

by Kristin Harlow

WISCONSIN DELLS, WIS. — HALL Structured Finance (HSF) has provided a first lien construction loan totaling $41.1 million for the Dellshire Resort in Wisconsin Dells, a city in southern Wisconsin. HSF partnered with Nuveen Green Capital, which provided an additional $27.8 million in C-PACE financing. Adrienne Andrews and Jeffrey Bucaro of JLL arranged the financing on behalf of the borrower, Uphoff Ventures LLC. Dellshire Resort will be a 208-room Medieval-themed hotel and represents the initial phase of a 40-acre master-planned resort and attraction development. The four-story hotel will feature a 222-seat restaurant, six pools, a swim-up pool bar, 9,500-square-foot arcade and family entertainment center, ATV rentals and approximately 6,500 square feet of meeting and event space. A 60-foot-tall fire-breathing dragon sculpture will mark the hotel’s entrance, complemented by costumed knights and dragon-themed interactions throughout the property. Located approximately 55 miles northwest of Madison, Wisconsin Dells is known as the “Waterpark Capital of the World,” boasting the highest concentration of indoor and outdoor waterparks globally, according to HSF. The local economy is heavily tourism-driven, drawing more than 4 million visitors annually. Completion of the Dellshire Resort is slated for the second quarter of 2026. Pyramid Global Hospitality will manage the asset. …

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityMidwestOhio

Newmark Negotiates 207,740 SF Headquarters Lease for Homage in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Newmark has negotiated a 207,740-square-foot office and industrial headquarters lease for Homage, a vintage sports apparel brand, at 885 Stelzer Road in Columbus. The speculative property is situated across the street from John Glenn International Airport and was built in 2024 to revitalize a former vacant wooded lot. Terry Coyne and Derek Lichtfuss of Newmark represented the landlord, Weston Inc. Homage plans to take occupancy before the end of the year. Weston Devore of CBRE represented the tenant. Founded by Ryan Vesler, Columbus-based Homage has investors such as NFL star Jason Kelce, NBA star Kevin Durant, actors Ryan Reynolds and Rob McElhenney and Haslam Sports Group, which owns the Cleveland Browns, Columbus Crew and is shared controlling owner of the Milwaukee Bucks.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestRetail

SPERRY Brokers Sale of Two Shopping Centers in Southeast Michigan Totaling 140,501 SF

by Kristin Harlow

ORTONVILLE AND FLUSHING, MICH. — SPERRY Property Investment Counselors, an affiliate of SPERRY, has brokered the sale of two grocery-anchored shopping centers in southeast Michigan. One center totals 73,253 square feet in Ortonville, while the other spans 67,248 square feet in Flushing. The seller, being involved in the grocery business for over 110 years, will continue to operate the grocery stores while selling the real estate. Robert Pliska of SPERRY represented the seller.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestOffice

Mercantile Bank Acquires 31,500 SF Office Building in Kentwood, Michigan

by Kristin Harlow

KENTWOOD, MICH. — Mercantile Bank has acquired a 31,500-square-foot office building in Kentwood near Grand Rapids. The two-story, fully remodeled building offers a mix of private offices, conference rooms, open workspaces, a large break room, training room and onsite parking. Significant capital improvements include renovations in 2017 and 2020 as well as upgraded HVAC systems and a refreshed parking lot. Kurt Kunst of NAI Wisinski of West Michigan represented Mercantile Bank, while Doug Taatjes and Hillary Taatjes Woznick of NAI Wisinski of West Michigan represented the undisclosed seller. Mercantile is one of the largest Michigan-based banks with assets of approximately $6.1 billion.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestSelf-StorageWisconsin

EquiCap Commercial Brokers Sale of 258,450 SF Self-Storage Portfolio in Wisconsin

by Kristin Harlow

MILWAUKEE, PORT WASHINGTON, SLINGER AND WEST BEND, WIS. — EquiCap Commercial has brokered the sale of the StorSafe of Wisconsin Portfolio, a 258,450-square-foot self-storage portfolio in Wisconsin. The five properties, totaling 1,454 units, are located in Milwaukee, Port Washington, Slinger and West Bend. Jesse Luke and Scott Rihm of EquiCap brokered the transaction. An out-of-state buyer purchased the portfolio within 97 percent of the list price. The deal closed within 75 days of going under contract.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMidwestMultifamilyOhio

Woda Cooper Opens 46-Unit Affordable Housing Community in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Woda Cooper Cos. Inc. and its co-developer Community Development for All People (CD4AP) have opened Columbus Renaissance Housing, a 46-unit affordable housing community located at 33 W. Morrill Ave. in Columbus. The property is reserved for renters with household incomes up to 60 percent of the area median income, which is $61,980 per year for a family of four. The project is comprised of one three-story building. There are 12 one-bedroom units, 28 two-bedroom apartments and six three-bedroom units. The property is certified LEED Silver. Amenities include a community room, parcel room, fitness center, central laundry, a playground, onsite office and bike racks. CD4AP is operating an onsite office to assist residents with advocacy, financial literacy, community enrichment activities and goal setting as well as referrals for addiction counseling, childcare, healthcare, employment and legal counsel. Columbus Renaissance Housing represents a combination of public and private investment from entities, including the City of Columbus, Franklin County, Ohio Housing Finance Agency (OHFA), Affordable Housing Trust for Columbus & Franklin County (AHT) and Columbus-Franklin County Finance Authority, as well as several commercial investors and lenders. The City of Columbus provided a low-interest permanent loan and approved a 15-year tax abatement …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityMidwestNorth Dakota

Marcus & Millichap Negotiates $8.3M Sale of Comfort Suites Hotel in Fargo, North Dakota

by Kristin Harlow

FARGO, N.D. — Marcus & Millichap has negotiated the $8.3 million sale of Comfort Suites Medical Center, an 82-room hotel in Fargo. Allan Miller, Chris Gomes, Huberth Marak and Skyler Cooper of Marcus & Millichap represented the buyer, a limited liability company, while the brokerage firm’s Jon Ruzicka assisted in closing the transaction. The buyer was part of a hospitality group completing a 1031 exchange after selling a hotel in Montana. The deal closed with conventional financing from a local lender. The property is located at 4417 23rd Ave. S.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $3.4M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Interra Realty has arranged the $3.4 million sale of a 34-unit apartment building in Chicago’s Albany Park neighborhood. Located at 4901 N. Christiana Ave. and built in 1928, the property includes 33 studios and one one-bedroom unit. The building was 97 percent occupied at the time of sale and recently received capital improvements to 23 units. Patrick Kennelly of Interra represented the local buyer, 606 Realty. Joe Smazal of Interra represented the seller, an entity led by Mike Root of Chicago-based Root Realty.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 56,068 SF Industrial Building in Chicago’s Kinzie Corridor

by Kristin Harlow

CHICAGO — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 56,068-square-foot industrial building located at 235 N. Artesian Ave. in Chicago. The property was vacant at the time of acquisition. Situated in the Kinzie Industrial Corridor, the building features direct access to the central business district. The facility features three docks, one drive-in door and parking for 38 cars. Venture One plans to improve the asset with office renovations, warehouse paint, parking lot paving, energy-efficient warehouse lights, roof replacement and landscaping. Cal Kropke and John Huguenard of JLL represented the undisclosed seller. Larry Goldwasser, Matt Cowie and John Marks of CBRE will market the property for lease. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndianaMidwestMixed-Use

Thompson Thrift Breaks Ground on Final Phase of $750M Fishers District in Metro Indianapolis

by Kristin Harlow

FISHERS, IND. — Thompson Thrift has broken ground on The Union at Fishers District, the final phase of the master-planned development in the Indianapolis suburb of Fishers. The mixed-use project will bring luxury residences, retail and office space and Indiana’s first AC Hotel by Marriott. Located near I-69 and 116th Street, the commercial portion is slated for completion in late 2026 and will include 57,000 square feet of retail, restaurant and entertainment space, 70,000 square feet of Class A office space and a 135-room AC Hotel. Additionally, a central event plaza will serve as a gathering place for both visitors and residents. Tenants with signed leases include Piedra, a modern upscale Mexican restaurant; Niku Sushi.Kitchen.Bar, which offers contemporary Japanese cuisine; Kitchen Social, a casual restuarnt serving international cuisine; Everbowl, a health-focused fast-casual spot; and Racha Thai, a Thai food restaurant. Medical spa Renova Aesthetics and Sweathouz, a wellness facility offering health and recovery treatments, will also be among the first tenants to open. Thompson Thrift is actively negotiating leases on the remaining spaces. The Union Flats will be a Class A multifamily community with 251 units located above ground-floor retail space. The project is slated to open in late 2026. …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts