Saturday, November 22, 2025
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Midwest

AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $7M Sale of Retail Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Marcus & Millichap has brokered the nearly $7 million sale of a 59,935-square-foot retail center in the Chicago suburb of Naperville. Built in 1988, the property is anchored by Dollar Tree and Anytime Fitness. Some of the tenants have operated at the center since its construction. Sean Sharko, Austin Weisenbeck and Adrian Mendoza of Marcus & Millichap represented the seller, 1550 State RTE 59 LLC, and procured the buyer, an out-of-state professional ownership group that was expanding its Illinois portfolio. Dean Giannakopoulos of Marcus & Millichap Capital Corp. arranged $5.1 million in acquisition financing through a regional bank.

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IndustrialLeasing ActivityMidwestMinnesota

HM Cragg Signs 92,224 SF Industrial Lease at Nexus at Opus Park in Suburban Minneapolis

by Kristin Harlow

EDEN PRAIRIE, MINN. — HM Cragg, a provider of backup power solutions, has signed a 92,224-square-foot industrial lease at Nexus at Opus Park in the Minneapolis suburb of Eden Prairie. Endeavor Development is the owner and developer for the two-building, 174,230-square-foot project. HM Cragg is relocating from 7490 Bush Lake Road in Edina and will open its new facility in early 2026. James DePietro and Matt Oelschlager of CBRE represented Endeavor, while Jay O’Brien of Great Places Co. represented the tenant. Nexus at Opus Park is a redevelopment of the former American Family Insurance office campus. Demolition of the 14.4-acre site is scheduled to begin in March, with both buildings slated for delivery in the fourth quarter. Opus Park is a larger mixed-use development.

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Affordable HousingDevelopmentMidwestMultifamilyNebraska

Annex Group to Build 175-Unit Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group has unveiled plans to build Central at South Haymarket, a 175-unit affordable housing community in Lincoln. The five-story property will consist of one-, two-, three- and four-bedroom units that will be reserved for households whose income level is 50 to 70 percent of the area median income. The nearly $55 million project, which is being built in an area that is currently a parking garage, is slated to open at the end of 2026. Central at South Haymarket will feature amenities such as a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area. Partners on the project include BVH Architecture, REGA Engineering, the City of Lincoln, Impact Housing Indiana Corp. and KeyBank’s debt and equity teams, which provided more than $20 million in total equity, over $22 million in permanent debt financing and more than $40 million in construction financing. Key Bank Capital Markets was the bond underwriter on $26 million in bonds issued by Nebraska Investment Finance Authority. The City of Lincoln issued a 20-year tax-increment financing along with parking rights provided in surrounding city-owned lots and garages to help make the project financially feasible. The project …

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DevelopmentIllinoisIndustrialMidwestOffice

PREMIER Design + Build Group Completes 113,000 SF Headquarters for Heathrow Scientific in Metro Chicago

by Kristin Harlow

VERNON HILLS, ILL. — PREMIER Design + Build Group has completed the new headquarters for Heathrow Scientific, a producer of laboratory supplies and instruments. The 113,000-square-foot facility in the Chicago suburb of Vernon Hills will serve as the central hub for the company’s manufacturing, laboratory and office operations. Following the demolition of an existing structure, PREMIER constructed the two-story building that features a large laboratory space dedicated to product design and quality control as well as an outdoor dining area. The project also includes 12 dock positions and two drive-in doors.

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Leasing ActivityMidwestMinnesotaOffice

Messerli Kramer Signs Full-Floor Office Lease at 50 South Sixth in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Law firm Messerli Kramer has signed a full-floor office lease at 50 South Sixth, a 29-story office building in the central business district of Minneapolis. The firm, which plans to occupy the space in the third quarter, is upgrading its facilities. Trinette Wacker and Reed Christianson of Transwestern Real Estate Services represented the owner, Mapletree Investments. Transwestern also manages the building, which opened in 2001. David Buyse and Rory Johnson of Corporate Tenant Advisors represented Messerli Kramer.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Negotiates $4.2M Sale of Industrial Building in Buffalo Grove, Illinois

by Kristin Harlow

BUFFALO GROVE, ILL. — Lee & Associates of Illinois has negotiated the $4.2 million sale of a 51,088-square-foot industrial building in the Chicago suburb of Buffalo Grove. The property is located at 901 Deerfield Parkway. Tom Boyle of Lee & Associates represented the buyer, Paragon Micro Inc. Rick Hiton of Hiton & Associates represented the seller, Awaken CTTE LLC.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $2.8M Loan for Refinancing of Multifamily Property in Suburban Detroit

by Kristin Harlow

FARMINGTON HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $2.8 million loan for the refinancing of Botsford Place Terrace Apartments in the Detroit suburb of Farmington Hills. The multifamily property features 98 units. David Ruff of BFG arranged the loan with Genisys Credit Union on behalf of the borrower, Botsford Place Terrace Apartments LLC.

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Arranges Sale of Two Multifamily Properties Totaling 674 Units in Fitchburg, Wisconsin

by Kristin Harlow

FITCHBURG, WIS. — CBRE has arranged the sale of The Pines and The Fairways, two multifamily properties totaling 674 units in Fitchburg, a southern suburb of Madison. FPA Multifamily LLC purchased the assets from E.J. Plesko & Associates Inc. affiliated entities for an undisclosed price. CBRE’s Gretchen Richards, Patrick Gallagher, Matson Holbrook, Sean Beuche, Abe Appert, Keith Collins and Ted Abramson represented the seller. The Pines is located at 2302 High Ridge Trail near the southeastern end of Nine Springs Golf & Disc Golf Course. Built in 1978, the 305-unit property features a range of one-, two- and three-bedroom floor plans. Of the 305 units, 120 are direct-entry townhomes. The Fairways is located at 2301 Traceway Drive near the northeastern end of Nine Springs Golf & Disc Golf Course. Built in 1970, the 369-unit property features a variety of one-, two-, and four-bedroom units.

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DevelopmentIllinoisIndustrialMidwest

PREMIER Design + Build Group Completes 1.2 MSF Phase I of Logistics Campus in Glenview, Illinois

by Kristin Harlow

GLENVIEW, ILL. — PREMIER Design + Build Group has completed Phase I of The Logistics Campus, a master-planned industrial campus in Glenview developed by Dermody Properties. Phase I consists of more than 1.2 million square feet across five buildings, all of which achieved LEED Silver certification. There is capacity for over 2 million square feet for future phases. As part of the project, nearly 400 trees were dug up and moved to a temporary nursery. A local landscaping company replanted the trees as trails were built.

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AcquisitionsMidwestMinnesotaMultifamily

Habitat Acquires 214-Unit Rental Townhome Community in Woodbury, Minnesota

by Kristin Harlow

WOODBURY, MINN. — Habitat has acquired Seasons Villas, a multifamily community with 214 townhome-style rental units in the Twin Cities suburb of Woodbury. The purchase price was undisclosed. Seasons Villas features 47 single-story units and 167 two-story units. Floor plans span 960 to 1,160 square feet. Habitat also assumed management of the property. In addition to performing routine asset preservation and maintenance improvements, Habitat plans to enhance the pet-friendly community with the addition of a dog park. The seller was Boston Capital Group, and Willow Bridge Property Co. previously managed the asset. Habitat’s acquisition team managed the purchase process, supported by the Middle-Income Affordable Preservation Fund, a $150 million joint venture between Enterprise Community Partners and Banc of America Community Development Co. The fund focuses on preserving “missing middle” housing by investing equity capital to develop and acquire properties with affordability generally between 80 and 120 percent of the area median income. CBRE’s Minneapolis team represented the seller.

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