Wednesday, April 29, 2026
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Midwest

AcquisitionsIndustrialMidwestWisconsin

Zilber Acquires 363,000 SF Industrial Building in Beloit, Wisconsin

by Kristin Harlow

BELOIT, WIS. — Zilber Property Group has acquired a 363,000-square-foot industrial building in southern Wisconsin’s Beloit for an undisclosed price. Located at 1405 Gateway Blvd. in the Gateway Business Park, the property is home to Pratt Industries’ Beloit Corrugating operations. Pratt manufactures recycled containerboard, corrugated sheets and related packaging containers, and maintains facilities throughout the U.S. The Beloit facility, which was constructed in 2016, is situated at the intersection of I-90 and I-43 near the Wisconsin-Illinois state line. It supplies Pratt’s customers throughout the Great Lakes and Upper Midwest regions. Peter Loehrer, Mark Kolsrud, Tom Shepherd and Jennifer Huber-Bullock of Colliers represented the undisclosed seller. Zilber currently owns and manages 15 industrial properties totaling roughly 3.8 million square feet in Wisconsin’s Rock County.  

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DevelopmentIllinoisLife SciencesMidwest

Skender Completes ULRI Materials Discovery Research Institute in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Skender has completed construction on the interior build-out of the 19,366-square-foot Materials Discovery Research Institute (MDRI) lab for UL Research Institutes (ULRI), a global safety science leader. The lab is located within the Illinois Science + Technology Park at 8045 Lamon Ave. in Skokie. Designed as an incubator for scientific innovation where students and early-career researchers can work alongside seasoned experts, the MDRI lab harnesses advanced computing and experimental methods to create innovative materials for renewable energy and environmental sustainability. The build-out included joining multiple lab sections within a secure envelope, retrofitting existing labs and adding specialized laboratories. The space features a gas adsorption lab with significant lab gas infrastructure, an automation lab and a battery characterization lab. The project team included architect Harley Ellis Devereaux, Affiliated Engineers Inc. and Project Management Advisors Inc. Construction lasted 30 weeks. Skender is now underway on the project’s next phase, the design-build of a scanning electronic microscope capable of viewing down to 1 nanometer.

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Affordable HousingIndianaLoansMidwestMultifamily

BWE Arranges $10.8M in Financing for Two Affordable Housing Properties in Indiana

by Kristin Harlow

FOWLER AND RENSSELAER, IND. — BWE has arranged a $10.8 million USDA RHS 538 GRRHP loan to provide permanent financing for the renovation of two affordable housing properties totaling 132 units in Indiana. Madison Cottages of Benton County, located in Fowler, totals 61 units across eight buildings. Madison Cottage of Rensselaer features 71 units across 12 buildings. All of the units are reserved for tenants earning up to 60 percent of the area median income. Lundat Kassa and Bob Morton of BWE structured the loan with a 40-year term and amortization. The project received additional financing through the use of 4 percent Low-Income Housing Tax Credits provided by the Indiana Housing and Community Development Authority.

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DevelopmentKansasLife SciencesMidwest

JE Dunn, Hutton Break Ground on $172.5M Wichita Biomedical Campus in Kansas

by Kristin Harlow

WICHITA, KAN. — General contractor partners JE Dunn and Hutton have broken ground on the Wichita Biomedical Campus (WBC), a $172.5 million project rising eight stories and totaling 350,000 square feet in Wichita. The development marks a partnership among Wichita State University (WSU), The University of Kansas (KU) and WSU Tech. The consortium of schools enlisted the design team of Kansas City-based Helix Architecture + Design and Los Angeles-based CO Architects for the interdisciplinary healthcare education destination that will combine several programs into one location. WSU’s College of Health Professions and Speech-Language-Hearing Clinic, WSU Tech’s nursing and surgical tech programs and the Wichita campuses of KU School of Medicine and KU School of Pharmacy will collocate at the new campus. Completion of the WBC is slated for 2026. A street-facing, three-story pavilion will house three 80-seat classrooms and will easily convert into an events venue. A portion of the pavilion’s roof will be an outdoor terrace. Inside, shared learning spaces will include advanced laboratories and simulation rooms for hands-on training. The building is designed to accommodate approximately 3,000 students and 200 faculty and staff. The project team also includes mechanical, electrical and plumbing engineer Henderson Engineers, structural engineer KPFF, civil …

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LoansMidwestMinnesotaMultifamilySeniors Housing

Thorofare Capital Provides $42.9M Loan for Refinancing of Active Adult Community Near Minneapolis

by Kristin Harlow

ST. LOUIS PARK, MINN. — Thorofare Capital, an affiliate of asset management platform Callodine Group LLC, has provided a $42.9 million bridge loan to refinance Risor of St. Louis Park, a 170-unit active adult community in the Minneapolis suburb of St. Louis Park. The borrower, Roers Cos., will use the financing primarily to retire an existing construction loan on the Class A property at 3510 Beltline Blvd. Completed in November 2023, the community is 78 percent leased. The six-story building features an interior courtyard and 4,000 square feet of ground-floor retail space. Amenities include a coffee bar, golf simulator, pet wash, fitness center, movie theater, library lounge, clubroom, pool, spa and pickleball court. Scott Loving, William Hintz, Scott Streiff and Gary Marchiori of JLL arranged the loan.

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AcquisitionsIllinoisIndustrialMidwest

Westmount Realty Capital Acquires Nine-Building Industrial Portfolio in Metro Chicago

by Kristin Harlow

CHICAGO — Westmount Realty Capital has acquired a nine-building industrial portfolio in metro Chicago for an undisclosed price. Called the Chicago Shallow-Bay portfolio, the buildings total 390,781 square feet and are located in four submarkets. At the time of sale, the portfolio was 91 percent leased to 37 tenants spanning 28 industries, including office, medical and automotive suppliers, and home restoration. Kurt Sarbaugh and Sean Devaney of JLL represented the seller, Unilev Capital and its partner, a Palladius Capital Management affiliate, Mandalay Industrial. Jeff Sause and Brian Walsh of JLL supported financing for the transaction.

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DevelopmentIllinoisMidwestRetail

Nicholas & Associates Nears Completion of $34.5M Indoor Ice Arena in Rosemont, Illinois

by Kristin Harlow

ROSEMONT, ILL. — Nicholas & Associates is nearing completion of its new $34.5 million indoor ice arena in the Chicago suburb of Rosemont. With precast concrete up and joists and roof decking installed, the building’s shell is 95 percent finished. Construction is on track for an August 2025 opening. Located on 3 acres north of Allstate Arena, the 103,000-square-foot arena will offer ice time for youth hockey groups and figure skating, evening ice time for adult hockey leagues and exclusive daytime use by the Chicago Wolves professional hockey team, which currently practices in Hoffman Estates and plays games at Allstate Arena. Designed by architectural firm ARCON Associates Inc., the project will feature a family-friendly mezzanine-level restaurant, bar with viewing area overlooking both rinks, grab-and-go concept and a physical therapy clinic and gym. The arena will be operated by the Nicholas Family of Cos.’ Spectate Group, which also manages Nicholas Sportsplex, an indoor-outdoor sports complex in Mount Prospect. Spectate Group will pay the Village of Rosemont an annual licensing fee to operate and manage the year-round facility. Under the agreement, both parties will be able to sell naming rights and sponsorships inside and outside the building.

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges $7.3M Sale of Crest Oak Apartments in Coon Rapids, Minnesota

by Kristin Harlow

COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments in Coon Rapids, a northern suburb of Minneapolis. The 60-unit multifamily property, built in 1972, features a mix of one-, two- and three-bedroom floor plans across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.

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AcquisitionsMidwestMissouriMultifamily

MLG Capital Acquires 336-Unit Summit Crossing Multifamily Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — MLG Capital has acquired Summit Crossing, a 336-unit multifamily property in Kansas City. The purchase price and seller were undisclosed. The garden-style townhome and apartment community was built in 2019. Amenities include two heated pools, a clubhouse, fitness center, business center and pickleball courts. Summit Crossing marks MLG’s fourth acquisition in metro Kansas City and brings its total number of units owned in the market to 1,249.

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AcquisitionsIndianaIndustrialMidwest

CBRE Negotiates $12.7M Sale-Leaseback of Industrial Portfolio in Indianapolis

by Kristin Harlow

INDIANAPOLIS — CBRE has negotiated the sale-leaseback of an industrial portfolio in Indianapolis for $12.7 million. Located on nearly 15 acres at 1220, 1254 and 1310 S. West St., the portfolio comprises three buildings and a truck and trailer lot. The seller, Sodrel Truck Lines Inc., will lease back all of the properties for at least one year. The property at 1310 S. West St. is home to a truck terminal building totaling 25,856 square feet that features 70 dock-height doors and four drive-in doors as well as five driver rest suites, a driver lounge, exercise facility and service garage. The two buildings at 1254 S. West St. feature one truck maintenance building (19,180 square feet) and a truck wash and fueling building (4,358 square feet). The last parcel includes a 6.1-acre paved and fenced truck and trailer lot. The site houses more than 180 trailers. Kevin Foley, Austin Wolitarsky, Anthony DeLorenzo, Bryan Johnson, JD Graves and Sarah Greer of CBRE represented the seller. A private high-net-worth investor was the buyer.

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