Wednesday, July 8, 2026
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Midwest

LoansMidwestMinnesotaMultifamily

PCCP Provides $130M Construction Loan for Condominium Project in Minneapolis

by Kristin Harlow

MINNEAPOLIS — PCCP has provided a $130 million construction loan for The Legacy, a 374-unit condominium project in Minneapolis. Located at 1240 S. 2nd St. in the Mill District, the project will consist of two towers. Amenities will include a fitness center, game room, community room and two roof decks with a pool and grilling areas. Dougherty Funding arranged the loan for the borrower, a joint venture between Provident Real Estate Ventures and Shamrock Properties Inc. Riverdale Ventures Legacy LLC, an affiliate of Shamrock Development, is developing the property, which is slated for completion in summer 2018.

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LoansMidwestMissouriMultifamily

Dwight Capital Provides $63.1M Refinancing for Apartment Property in St. Louis

by Kristin Harlow

ST. LOUIS — Dwight Capital has provided a $63.1 million loan for the refinancing of Park Pacific Apartments in St. Louis. The property is an adaptive reuse of the historic Missouri Pacific Railroad building located downtown. Originally built in the 1920s, the property was rehabilitated into a mixed-use development in 2011. Park Pacific now features 230 luxury apartments, 48,000 square feet of Class A office space, 28,000 square feet of ground-floor retail space and a 585-space parking garage. Adam Sasouness and Josh Hoffman of Dwight Capital originated the 40-year loan. The borrower, The Lawrence Group, will use about $300,000 of the funds to improve the energy efficiency of the property.

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HospitalityMidwestOhio

Home2 Suites by Hilton Opens in Dublin, Ohio

by Kristin Harlow

DUBLIN, OHIO — Home2 Suites by Hilton Columbus Dublin has opened in suburban Columbus. The 126-room, extended-stay hotel is owned by Dublin-based Crawford Hoying and operated by Shaner Hotels. Located at 5000 Upper Metro Place, the property features an indoor pool and two outdoor patio areas. The hotel also features a laundry and fitness area and complimentary breakfast. The chain is aggressively expanding throughout the Midwest and the rest of the country.

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KansasMidwestRetail

NGZ, Gasperi Group Broker Sale of 23,652 SF Retail Center in Kansas City, Kansas

by Kristin Harlow

KANSAS CITY, KAN. — Newmark Grubb Zimmer (NGZ) and Gasperi Group Commercial Real Estate LLC have brokered the sale of Parallel Parkway Center in Kansas City along Parallel Parkway. The sales price was not disclosed. Anchored by AutoZone, the 23,652-square-foot retail center was 100 percent leased at the time of sale to five tenants. Originally built in 1971, the property was fully renovated in 2014. Michael VanBuskirk and Chris Robertson of NGZ, along with Steve Gasperi of Gasperi Group, brokered the transaction on behalf of the undisclosed seller. A private West Coast-based investor purchased the property.

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IllinoisMidwestRestaurantRetail

Realty Metrix Commercial Arranges Sale of 4,122 SF Retail Property in Hampshire, Illinois

by Kristin Harlow

HAMPSHIRE, ILL. — Realty Metrix Commercial has arranged the sale of the 4,122-square-foot retail property formerly occupied by Corkshire Pub in Hampshire, located in northern Illinois. The sales price was not disclosed. The 4,122-square-foot retail property, built in 1930, is located at 172 S. State St. The buyer, K&M Village Inc., plans to renovate the property and rename it Copper Barrel on State, which will offer modern cuisine as well as some of the old Corkshire Pub favorites. Completion is slated for January 2018. Linda Kost and Dave Schmidt of Realty Metrix Commercial represented both the buyer and the seller, Gayle Cork Trust.

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MidwestMinnesotaMultifamily

IRET Acquires 500-Unit Multifamily Property in Plymouth, Minnesota for $92.3M

by Kristin Harlow

PLYMOUTH, MINN. — IRET (NYSE: IRET) has acquired Park Place Apartments in Plymouth, about 15 miles west of Minneapolis, for $92.3 million. The 500-unit multifamily property consists of four buildings spanning 32 acres. Built in 1985, the property is currently 95 percent occupied. Amenities include a clubhouse, fitness center, business center, playground, swimming pools and tennis courts.

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IllinoisIndustrialMidwest

Cushman & Wakefield Arranges Sale of Four-Building Industrial Portfolio in Chicago

by Kristin Harlow

CHICAGO — Cushman & Wakefield has arranged the sale of a four-building industrial portfolio in West Town’s Kinzie Industrial Corridor in Chicago. The price was not disclosed. A joint venture between Clear Height Properties and Diamond Realty Holdings purchased the portfolio with plans to fully reposition it. Located at 404-434 N. Armour St. and 1514 W. Kinzie St., the properties span 45,568 square feet. By demolishing 1514 W. Kinzie and combining that site with the neighboring building at 1515 W. Hubbard and a vacant 14,000-square-foot site at 401 N. Ashland that the joint venture already owns, the new complex will support 46,000 square feet of space suited for flex/office, last-mile delivery or high-tech manufacturing. Larry Goldwasser, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield brokered the transaction. The team will also oversee lease-up of the redevelopment.

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IllinoisMidwestRetail

Cypress Equities Acquires Two Grocery Properties in Illinois

by Kristin Harlow

LOVES PARK AND ROCKFORD, ILL. — Cypress Equities has acquired two properties occupied by Schnucks grocery store in Loves Park and Rockford, both located in northern Illinois. The purchase price was not disclosed. The Loves Park location spans 15 acres at 1810 Harlem Road, while the Rockford location spans 11 acres at 6410 E. State St. This transaction signals the first closing in Cypress’ new triple-net fund, Cypress NNN Fund I LLC. Through this investment fund, Cypress seeks to purchase properties across the United States including triple-net, build-to-suit opportunities and/or sale-leaseback deals. Dan Elliot and Sean Lutz of SRS Real Estate Partners brokered the sale.

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IndustrialMidwestWisconsin

Dickman Co. Brokers Sale of 42,590 SF Industrial Building in Menomonee Falls, Wisconsin

by Kristin Harlow

MENOMONEE FALLS, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 42,590-square-foot industrial building in Menomonee Falls, about 20 miles northwest of Milwaukee. The price was not disclosed. The property is located on Garwin Mace Drive. Keebler Co. sold the property to AJR Properties South LLC. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the buyer in the transaction.

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IndustrialMichiganMidwest

MSC Industrial Supply Co. Signs 14,334 SF Industrial Lease in Livonia, Michigan

by Kristin Harlow

LIVONIA, MICH. — MSC Industrial Supply Co. has signed a 14,334-square-foot industrial lease in Livonia, a western suburb of Detroit. The warehouse property is located at 37007 Industrial Road. The building will serve as MSC’s vending machine division beginning in November. Gary Glotzhober of Colliers International represented the tenant in the lease transaction. MSC currently operates five locations in Michigan.

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