CHICAGO — Convexity Properties, the real estate development arm of DRW Holdings, has acquired a retail site in Chicago’s Gold Coast neighborhood for $39 million. Located at 1120 and 1130 N. State St., the two-story building was formerly occupied by Barnes & Noble and is currently home to Lou Malnati’s Pizzeria. Mid-America Real Estate Corp. represented Convexity in the acquisition and has been appointed to oversee all retail leasing efforts for the property. Convexity also owns the adjacent Viceroy Hotel at 1118 N. State St. While development plans for the newly acquired parcel have not yet been announced, the property is zoned for a 304-unit, 345-foot residential tower, which was approved by the city council in 2021.
BOARDMAN, OHIO — Academy Sports + Outdoors has opened a 55,000-square-foot store at Southland Crossings in Boardman, about 50 miles east of Akron. First National Realty Partners owns the 245,678-square-foot shopping center. The lease backfills a former vacancy and replaces a short-term tenant. The store offers a wide array of sporting goods, outdoor recreation equipment and apparel. Additional tenants at the property include Bob’s Discount Furniture, Boot Barn, Giant Eagle, PetSmart and Ross Dress for Less.
CHICAGO — Interra Realty has arranged the $3.2 million sale of a 16-unit apartment building in Chicago’s West Ridge neighborhood. Constructed in 1931 and renovated in 2023, the property at 6254 N. Whipple St. features two-bedroom units. The building was fully occupied at the time of sale. Brad Feldman of Interra represented the buyer and seller, both of which were local private investors. Feldman also assisted the seller in the original $1.8 million acquisition of the asset in 2023. At that time, the property had not changed hands in more than 50 years and needed significant upgrades. The seller’s investment equated to a nearly $85,000 increase in price per unit and increased rents.
LENEXA, KAN. — Copaken Brooks has announced that three new restaurants are coming to the AdventHealth Campus at Lenexa City Center in Kansas. Five Four, Urban Egg and Stoney River Steakhouse and Grill will open between 2026 and 2027. AdventHealth in Lenexa offers emergency care, outpatient services, advanced imaging and physician offices. Formerly 54th Street, Five Four will introduce the newest prototype of the Kansas City-based restaurant with a 10,000-square-fot standalone building with both indoor dining and an outdoor games area. Slated to open in fall 2026, this will be Five Four’s ninth metro location and second in Johnson County. Ferguson Properties represented the restaurant in the lease. Urban Egg, a Colorado-founded breakfast and brunch concept with 11 locations across three states, will occupy a 3,400-square-foot restaurant. The Lenexa location is slated to open in late 2026. The Retail Group represented Urban Egg in the lease. Stoney River, owned by SPB Hospitality, will make its Kansas City debut in an 8,000-square-foot space. The steakhouse is slated to open in early 2027. Pace Properties represented the tenant. Urban Egg and Stoney River will be located within a new mixed-use building, which Copaken Brooks will begin constructing in October. The property will …
CALEDONIA, MICH. — Walker & Dunlop has arranged a $25.4 million Fannie Mae loan for the refinancing of River Birch Apartments in Caledonia, a southern suburb of Grand Rapids. The 140-unit apartment community features one- and two-bedroom units. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop arranged the 10-year loan through Kari Zapolski of Inner Circle Holdings. The loan features five years of interest-only payments followed by a 35-year amortization schedule.
SKOKIE, ILL. — Greenstone Partners has brokered the $18 million sale of the WiFi Tech Center, a multi-tenant, flex industrial property totaling 183,000 square feet in Skokie. The historical occupancy for the asset has averaged 95 percent over the past 20 years. The tenant mix is comprised of national and local companies with the typical space ranging from 3,000 to 15,000 square feet. Danny Spitz of Greenstone represented both the seller, a local private investor, and the buyer, a California-based private investor.
AVON, OHIO — Topgolf will open its new venue in Avon, about 20 miles west of downtown Cleveland, on Friday, Sept. 19. The facility is located at 35343 Chester Road and will employ roughly 200 people. Topgolf Avon features 64 outdoor climate-controlled hitting bays spanning two levels. Each bay has lounge-type furniture or high-top tables. The venue is equipped with Toptracer technology, which traces each golf ball’s flight path, distance and other metrics. The venue also features a full-service restaurant and bar, private event space and outdoor patio.
WOODRIDGE, ILL. — Seefried Industrial Properties has broken ground on a 64,421-square-foot speculative industrial development at 10321 Beaudin Blvd. in Woodridge. The Class A facility is designed to serve a wide range of industrial users and will be available for sale or lease upon completion, which is slated for the first quarter of 2026. Situated on a 3.8-acre site within the International Business Center, the building will include 13 exterior docks, two drive-in doors, a clear height of 32 feet, 68 car parking stalls and office build-to-suit space. Divisible to 25,000 square feet, the building is designed to serve both single and multi-tenant users. The project site provides convenient access to the I-55 and I-355 interchanges. Rowan McDonnell, Traci Payette and Stephanie Park of CBRE are marketing the development for sale or lease. The project team includes Keeley Construction, Harris Architects Inc. and Jacob & Hefner Associates Inc. as civil engineer.
HIBBING, MINN. — The Duluth office of Kraus-Anderson has completed a new manufacturing facility for Advanced Machine Guarding Solutions (AMGS) in Hibbing, a city in northeast Minnesota. The 41,250-square-foot building is owned by the Hibbing Economic Development Authority. Designed by Widseth Architects, the project features a 35,000-square-foot manufacturing area and a 3,750-square-foot office. AMGS manufactures steel perimeter guarding for machines and robotics. Construction began in August 2024.
OMAHA, NEB. — Equity Bancshares Inc. (NYSE: EQBK), the Wichita, Kan.-based holding company of Equity Bank, has entered into a definitive merger agreement with Frontier Holdings LLC, the parent company of Frontier Bank in Omaha. The transaction adds seven locations to Equity’s franchise and marks the company’s entrance into Nebraska. Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Frontier will receive approximately 75 percent of its consideration in EQBK stock and the balance in cash. Subject to receipt of customary regulatory and member approvals and closing conditions, the merger is expected to close in the fourth quarter. Following completion, Frontier Bank will merge with and into Equity Bank. Established in 1937, Frontier Bank currently operates seven Nebraska locations, with two in Lincoln and one each in Falls City, Madison, Norfolk, Omaha and Pender. As of June 30, Frontier Bank had $1.4 billion in total assets, including $1.3 billion in loans and $1.1 billion in deposits. The combination with Frontier brings Equity’s total strategic transactions to 26 since the company’s founding in 2002, including 14 whole-bank acquisitions since the company’s initial public offering in 2015. Stephens Inc. advised Equity, which …