Wednesday, January 21, 2026
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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Begins Construction of $33M Public Safety Facility in Virginia, Minnesota

by Kristin Harlow

VIRGINIA, MINN. — Kraus-Anderson has begun construction of a new $33 million public safety facility located at 1004 2nd St. S. in Virginia, a city in northeast Minnesota. Designed by Wold Architects and Engineers, the 50,000-square-foot project features a new fire station, police station and EMS facility, along with 13 dormitories, training spaces and parking lots. The new building also features a training tower, fitness center, day room, kitchen and dining room. Completion is slated for July 2025.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $3.4M Sale of Apartment Building in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $3.4 million sale of an eight-unit apartment building located at 2501 N. Southport Ave. in Chicago’s Lincoln Park neighborhood. Originally constructed in 1907 as a funeral home, the property was redeveloped by the seller. There are four two-bedroom units and four three-bedroom layouts as well as nine onsite parking spaces. The asset was fully occupied at the time of sale. Brad Feldman of Interra represented the private local buyer. Joe Smazal, Colin O’Malley and Mark Dykstra of Interra represented the confidential seller. O’Malley had previously assisted the seller in its acquisition of the property in 2018.

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Affordable HousingDevelopmentIowaMidwestMultifamily

Annex Group to Build $55.1M Affordable Housing Community in Dubuque, Iowa

by Kristin Harlow

DUBUQUE, IOWA — The Annex Group has unveiled plans to build Union at the Marina, a $55.1 million affordable housing community in Dubuque. The 201-unit property will be designated for households whose income level is at or below 70 percent of the area median income. Union at the Marina will feature two four-story buildings with one-, two- and three-bedroom units. Amenities will include a playground, community center, fitness center, picnic area and dog walking area. Completion is slated for fall 2026. Project partners include ASK Studio; Axiom Consultants; Impact Housing Indiana Corp.; the City of Dubuque, which provided acquisition grants, tax-increment financing and lift station upgrades; WNC, which provided around $21 million in total equity; and Piper Sandler, which provided more than $24 million in permanent debt financing as well as $36 million in construction financing.  

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AcquisitionsIndustrialMidwestOhio

Pacific Manufacturing Expands Footprint in Fairfield, Ohio to 1 MSF

by Kristin Harlow

FAIRFIELD, OHIO — Pacific Manufacturing has expanded in Fairfield, a northern suburb of Cincinnati, by purchasing a building on its campus that doubles its square footage. The expansion includes investment in new machinery and equipment and will create 96 new jobs and add $4.7 million in annual payroll to its existing workforce of over 860 employees. The company’s presence in southwest Ohio has grown to more than 1 million square feet — owned and leased — across five buildings totaling 60 acres. Pacific Manufacturing, with its parent company based in Ogaki City, Japan, has been located in Fairfield since 1990. A supplier to the automotive industry, the company specializes in producing precision metal and plastic stamping components. The Ohio campus represents the company’s largest facility outside of Japan and is the second-largest manufacturing enterprise in Fairfield. The Fairfield City Council approved an incentive package for Pacific Manufacturing’s expansion and investment in the community. In addition, the State of Ohio approved a Job Creation Tax Credit. JobsOhio plans to offer assistance, which will be made public after a final agreement is executed.

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IndustrialKansasLoansMidwest

BWE Arranges $13.2M in Financing for 200,000 SF Industrial Building in Wichita, Kansas

by Kristin Harlow

WICHITA, KAN. — BWE has arranged $13.2 million in financing for Iron Horse Building 1, a Class A industrial building totaling more than 200,000 square feet in Wichita. The property is located within the Iron Horse Manufacturing Park and is fully leased to AGCO Corp., an agricultural machinery and precision technology company. Dan Rosenberg, Tim Caffrey and Logan Petersmeyer of BWE arranged the loan on behalf of a Kansas City-based developer through a life insurance company.

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AcquisitionsMichiganMidwestOffice

Marcus & Millichap Brokers $7.4M Sale of Office Headquarters Building in Auburn Hills, Michigan

by Kristin Harlow

AUBURN HILLS, MICH. — Marcus & Millichap has brokered the $7.4 million sale of a 68,839-square-foot office building in Auburn Hills that is leased to Teijin Automotive. Built in 1989, the property is located at 255 Rex Blvd. on five acres just off I-75. The building has served as the corporate headquarters for Teijin Automotive Technologies, with a corporate guarantee from Teijin Limited, a Japanese chemical, pharmaceutical and information technology company, since 2014. The company recently renewed its lease for another 10 years. John Godwin and Melissa Mann of Marcus & Millichap represented the undisclosed buyer and seller.

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HealthcareLeasing ActivityMichiganMidwest

Concierge Medicine of West Michigan Opens 3,200 SF Office in Ada

by Kristin Harlow

ADA, MICH. — Concierge Medicine of West Michigan has opened a 3,200-square-foot office at 6741 E. Fulton St. in Ada. Founded by family medicine physicians and twin sisters, Dr. Lara Baatenburg and Dr. Jana Baatenburg, the practice offers a membership-based healthcare model. Kaleb Antonides, Jordan Day and Hillary Taatjes Woznick of NAI Wisinski of West Michigan assisted the tenant in leasing and build-out of the space.

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Alex Hoenig Valuations Walker & Dunlop
Content PartnerFeaturesIndustrialMidwestMultifamilyNortheastOfficeSoutheastTexasWalker & DunlopWestern

Multifamily, Industrial, Office Transaction Activity Trends Upward Amid Shifting Valuation Landscape

by Sarah Daniels

The spike in interest rates nearly three years ago brought investment sales to a virtual standstill, as deep disagreements over valuation between buyers and sellers dominated the market. While recent Federal Reserve cuts to the federal funds rate raised hope for a resurgence in transactions, ongoing volatility in the bond market, concerns about reemerging inflation and uncertainty over fiscal and monetary policy continued to weigh on a full-blown rebound in investment activity. The uncertain environment makes it difficult for investors to easily evaluate commercial property values, underscoring the importance of access to comprehensive, real-time data on transactions, market fundamentals and emerging trends, says Alex Hoenig, MAI, Midwest regional managing director at Apprise, Walker & Dunlop’s independent valuation firm. “Our understanding of current values for commercial real estate relies on transactions actually taking place, and sales velocity has started to inch back up,” reports Hoenig. “But there’s no question that there has been a lot of volatility in the market, which requires a local expert with access to a strong network and a constant pulse on market comparables.” Walker & Dunlop launched Apprise in 2020 to accelerate technology-driven solutions in the commercial real estate sector. Apprise serves owners and investors nationwide, …

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AcquisitionsIndianaMidwestMultifamilySeniors Housing

Berkadia Negotiates Sale of Two-Property Seniors Housing Portfolio in Metro Indianapolis

by Kristin Harlow

INDIANAPOLIS AND AVON, IND. — Berkadia has negotiated the sale of two seniors housing properties totaling 242 units in metro Indianapolis for an undisclosed price. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia represented the seller, a private equity firm. A publicly traded REIT was the buyer. Traditions Management operates both communities and will continue to do so. Built in 2014, Traditions of Reagan Park in Avon features 125 independent living, assisted living and memory care units, including 30 independent living villas built in 2016 and 2019. Built in 2014, Traditions of Solana in Indianapolis features 117 independent living, assisted living and memory care units, including 24 independent living villas built in 2014 and 2016.

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Build-to-RentLoansMidwestSingle-Family RentalWisconsin

BWE Arranges $36.1M in Permanent Financing for Build-to-Rent Community in Sun Prairie, Wisconsin

by Kristin Harlow

SUN PRAIRIE, WIS. — BWE has arranged $36.1 million in permanent financing for Heyday Sun Prairie, a 170-unit build-to-rent community in the Madison suburb of Sun Prairie. Dan Rosenberg, Tim Caffrey and Logan Petersmeyer of BWE arranged the Fannie Mae loan, which features interest-only payments for the full term. A Chicago-based developer was the borrower. The financing will be utilized to pay off construction loans.

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