Saturday, February 7, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Midwest

IndustrialLeasing ActivityMidwestMinnesota

Two Tenants Sign Leases at 297,756 SF I-94 Distribution Center in Rogers, Minnesota

by Kristin Harlow

ROGERS, MINN. — Two tenants have signed leases at I-94 Distribution Center in Rogers, a northwest suburb of Minneapolis. The deals total 116,042 square feet of warehouse space and 66,179 square feet of outdoor space, bringing the 297,756-square-foot property to full occupancy. ABC Supply Co. Inc, a wholesale distributor of roofing and other select exterior and interior building products in North America, signed a lease for 49,954 square feet inside the building and 66,179 square feet, or approximately 1.5 acres, of secure outdoor space. UPAC2, a food packaging company, will occupy 66,088 square feet within the property. Nate Erickson and Alex Baron of Transwestern Real Estate Services represented the landlord, Dalfen Industrial. The previous tenant exited I-94 Distribution Center in March, and both new tenants plan to move into their spaces in early 2025. Joe Owens of Colliers represented ABC Supply, while Austin Lovin of CBRE represented UPAC2.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Venture One Buys 74,975 SF Industrial Building in Elk Grove Village, Illinois

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a 74,975-square-foot industrial building in the Chicago suburb of Elk Grove Village. The purchase price was undisclosed. The property sits on nearly three acres at 951 Lunt Ave. and was vacant at the time of sale. There are eight docks and parking for 70 cars. Prior to closing, Venture One received a 6B tax incentive from Elk Grove Village. Venture One plans to make improvements, including office renovations, warehouse paint, parking lot seal coating, energy-efficient warehouse lights, roof replacement, landscaping and façade enhancements. Cal Payne and Matt Mulvihill of CBRE represented the seller and will be retained to market the property for lease. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRestaurantRetail

SRS Brokers $2.6M Sale of Raising Cane’s Ground Lease in Quincy, Illinois

by Kristin Harlow

QUINCY, ILL. — SRS Real Estate Partners has brokered the $2.6 million sale of a Raising Cane’s Chicken Fingers ground lease in Quincy, a city in western Illinois. The 3,062-square-foot restaurant features a drive-thru and is located at 3601 Broadway St. The newly developed property serves as an outparcel to Target and is directly across the street from Quincy Commons Shopping Center. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Chicago-based merchant developer. Alexander Moore of SRS represented the buyer, a private investor from Sacramento, Calif. The lease term is 15 years.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestTop StoriesWisconsin

Lilly Plans $3B Expansion to Pharmaceutical Manufacturing Facility Near Milwaukee

by John Nelson

PLEASANT PRAIRIE, WIS. — Eli Lilly and Co. (NYSE: LLY) has unveiled plans for a $3 billion expansion of the company’s pharmaceutical manufacturing facility in Pleasant Prairie, located 37.5 miles south of Milwaukee. Lilly acquired the facility from Nexus Pharmaceuticals in April 2024. The Indianapolis-based company plans to start construction on the expansion next year. The expanded facility will focus on the production of injectable medicines, device assembly and packaging for medicines across numerous therapeutic areas. Lilly plans to implement automated features such as guided vehicles, robotics and production equipment in order to accelerate and increase the accuracy of medicine production. Lilly expects to add 750 jobs to the workforce at the facility, which currently comprises about 100 individuals. New jobs at the location will include operators, technicians, engineers and scientists. Additionally, the company states that more than 2,000 construction jobs will be created during the project’s development. “Today’s announcement represents our single largest U.S. manufacturing investment outside our home state of Indiana and will add to our ability to expand capacity to make both our existing and future pipeline of medicines right here in the Midwest,” said Edgardo Hernandez, executive vice president and president of Lilly Manufacturing Operations. Lilly states …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestOffice

Urban Innovations Completes Renovation of Consumers Credit Union Headquarters in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — Urban Innovations has completed the renovation and expansion of the Consumers Credit Union headquarters building at 300 N. Field Drive in the Chicago suburb of Lake Forest. Urban Innovations led the 140,000-square-foot renovation of an existing three-story building, which the tenant purchased in 2022 to move its headquarters from Gurnee. The project for the company’s 500 employees entailed a new interconnecting grand staircase from the first floor to the basement. Amenities include a Starbucks with lounge, fitness center, large training room and cafeteria. Other project features include an upgraded lobby and reception desk, new executive offices, a 40-person boardroom, new conference and phone rooms, six coffee bars and pantries, and a refresh of existing finishes and lighting. Partners by Design was the architect.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityMidwestMissouri

TAB USA, Animal Health International Ink Leases at Liberty Heartland Logistics Center in Metro Kansas City

by Kristin Harlow

LIBERTY, MO. — TAB USA and Animal Health International have inked leases at Liberty Heartland Logistics Center in the Kansas City suburb of Liberty. The Opus Group developed the three-building industrial project in a joint venture with Washington Capital Management Inc. TAB, an international manufacturer of industrial batteries, moved into its 66,700-square-foot space earlier this year for housing its first U.S. headquarters and assembly and distribution operations. Animal Health International, a global distributor of animal health products, will open its 255,000-square-foot distribution center in March. Liberty Heartland Logistics Center currently has 490,300 square feet of vacancy across two buildings. The first phase of the development was an 847,475-square-foot build-to-suit for Hallmark. Opus was the developer, design-builder, architect and structural engineer on the shell buildings and the architect and structural engineer on TAB’s build-out. Davidson Architecture & Engineering and Krudwig Structural Engineers completed the build-out for Animal Health International. Michael VanBuskirk, Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are the leasing agents.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Brennan Investment Group Acquires 225,000 SF Industrial Building in Chicago

by Kristin Harlow

CHICAGO — Brennan Investment Group has acquired a single-tenant industrial building totaling 225,000 square feet in Chicago for an undisclosed price. The property is situated on seven acres at the intersection of I-55 and Pulaski Road. The transaction marks the second acquisition in Brennan’s corporate real estate fund, which launched in September and targets surplus industrial real estate from non-professional and corporate owners. Brennan plans to make significant property improvements, including doubling the existing loading capacity. Brennan now owns 12 million square feet in Chicagoland.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHealthcareMichiganMidwest

Walz Kraft Buys 11,010 SF Medical Office Building in East Lansing, Michigan

by Kristin Harlow

EAST LANSING, MICH. — Walz Kraft Capital Partners has purchased an 11,010-square-foot medical office building in East Lansing for an undisclosed price. The two-story property is fully occupied by Michigan Gastroenterology Institute, which was recently acquired by Pinnacle Gastroenterology Partners. The asset has operated as a gastroenterology clinic since it was constructed in 1998. The current tenant is affiliated with Michigan State University. Seth Haron of Marcus & Millichap represented the seller, while Walz Kraft was self-represented. The transaction marks Walz Kraft’s first acquisition in Michigan and its 18th in the United States.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLeasing ActivityMidwestNebraskaRestaurantRetail

Lockwood Construction Begins Demolition of Former Charleston’s Restaurant in Omaha

by Kristin Harlow

OMAHA, NEB. — Lockwood Construction has begun demolition work on a former Charleston’s restaurant space in Omaha. Terra Gaucha, a Brazilian steakhouse, will open in the 8,788-square-foot space. The new location marks the restaurant’s first venture into Omaha. The building will feature an expanded dining area to accommodate private dining, an expansive wine wall and open bar concept, and extensive exterior updates and landscaping to coincide with other Terra Gaucha locations. The restaurant is expected to open in May 2025.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsMidwestMidwest Market ReportsRetailWisconsin

Local, Regional Tenants Drive Milwaukee’s Retail Market

by Kristin Harlow

By Russ Sagmoen, Isaac Berg and James McKenna, Colliers The greater Milwaukee retail landscape continues to thrive, with notable activity in regions such as Oconomowoc, Grafton, Franklin, Oak Creek and the Racine metro area. Franklin and Oak Creek have experienced steady growth over the past decade and are well-positioned to maintain this momentum.  Meanwhile, Racine County has seen a surge of recent activity, largely fueled by Microsoft’s announcement of a $3.3 billion state-of-the-art data center in Mount Pleasant. The Racine/Kenosha I-94 corridor serves as a vital connector between the Milwaukee and Chicago MSAs, enhancing its attractiveness for economic expansion. Market-wide, we are seeing a great amount of activity from local and regional retailers/franchisees and a slowdown from national brands. While there is some activity from national retailers, they tend to be selective about their site choices, highlighting the importance of prime locations and price sensitivity. Because of this, the majority of retail activity is driven by local and regional enterprises.  New retail product is scarce, with a lack of new construction due to rising interest rates and increasing land and construction costs. This has resulted in a decline in multi-tenant strip centers, with the bulk of new construction coming in …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts