Sunday, November 23, 2025
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DevelopmentIndustrialMidwestOhio

Geis Underway on $200M Manufacturing Facility for Viega in Shalersville, Ohio

by Kristin Harlow

SHALERSVILLE, OHIO — Geis Development is underway on the construction of a new 220,000-square-foot manufacturing facility for Viega in Shalersville, about 40 miles southeast of Cleveland. Viega works in press technology for metal pipe fittings and valves. The project is situated within Geis’ Turnpike Commerce Center. Construction began in November and is slated for completion in early 2025. The 80-acre parcel and construction of the new plant represent an investment of approximately $200 million in Ohio. Geis is collaborating with Viega’s design team to ensure that the project aligns with Viega’s sustainability goals, which include reducing the carbon emissions associated with importing products by manufacturing more items in the U.S. The new facility will be completely carbon neutral from the start, supporting the company’s long-term goal of achieving net-zero carbon emissions for all its plants by 2035.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Purchases 718,709 SF Industrial Building in Monee, Illinois

by Kristin Harlow

MONEE, ILL. — Venture One Real Estate, in partnership with DRA Advisors, has purchased a 718,709-square-foot industrial building in Monee, a southern suburb of Chicago. The purchase price and seller were undisclosed. Located at 25850 Ridgeland Ave., the property is fully leased to one tenant. Constructed in 2004 and situated on 44 acres, the facility features a clear height of 30 feet, 75 exterior docks, two drive-in doors and more than 100 trailer stalls. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Scott Duerkop, Keith Stauber and Steve Ostroswki of JLL represented the seller. Brian Walsh and Lucas Borges of JLL arranged permanent financing for the transaction. Venture One utilized its acquisition fund, VK Industrial VI, which is co-sponsored by Venture One and Kovitz Investment Group.

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DevelopmentIndustrialMidwestMissouri

Keystone Construction Completes Two Corporate Headquarters Properties in Suburban St. Louis

by Kristin Harlow

CHESTERFIELD AND O’FALLON, MO. — Keystone Construction Co. has completed the corporate headquarters for both Tubular USA and SourceOne Solutions LLC in suburban St. Louis. Tubular USA, a supplier of in-line galvanized pipe and tubing, now occupies a 131,000-square-foot facility in Chesterfield that replaces two existing buildings in Weldon Spring. The project, situated within Spirit Valley Business Park, features offices, steel fabrication, warehouse space and room for future growth. Tubular’s steel products are integrated into the building’s architectural design. The project team included Gray Design Group, Stock & Associates Consulting Engineers Inc. and Knapp Engineering. The 37,500-square-foot headquarters for SourceOne Solutions is situated on a 6.4-acre site in O’Fallon. The company is involved with the design, construction, maintenance and renovation of commercial lighting solutions. The new facility was designed and constructed to allow for multiple expansions in the future. In addition to warehousing and manufacturing space, the property features 6,500 square feet of office space with a covered entry and patio, executive offices, training and conference rooms, open workstations and a café. The project team included Gray Design Group, Knapp Engineering and Civil & Environmental Consultants.

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AcquisitionsKansasMidwestMultifamily

Pearlmark, Archstone Capital Buy 68-Unit Townhome-Style Multifamily Property in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Pearlmark, in partnership with Archstone Capital, has purchased Stonehaven at Overland Park, a 68-unit, townhome-style multifamily property in the Kansas City suburb of Overland Park. The purchase price and seller were undisclosed. The asset consists of nine two-story buildings with 34 two-bedroom and 34 three-bedroom floor plans. The transaction marks Chicago-based Pearlmark’s first acquisition in metro Kansas City and its fifth investment in its latest equity fund, Pearlmark Equity Partners II LP. The fund is actively investing in the middle market value-add space across the U.S.

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DevelopmentMidwestMissouriMultifamily

Cordish Cos. Opens 135-Unit Midland Lofts Apartment Building in Kansas City’s Power & Light District

by Kristin Harlow

KANSAS CITY, MO. — The Cordish Cos. has opened Midland Lofts in downtown Kansas City’s Power & Light District. The 135-unit apartment building is the adaptive reuse of the former Midland Office Building, which opened in 1927, and is directly connected to the Midland Theatre. The property is more than 80 percent leased, with about half of the residents coming from outside the Kansas City metro area, according to Cordish. Amenities at the 12-story project include a coffee bar, entertainment kitchen, fitness center, coworking spaces, billiards room, club lounge, meditation room, business center, conference rooms and Luxer package locker system. Locally based architecture and design firm Helix partnered with Rosin Preservation to retain historic elements of the building, which is listed on the National Register of Historic Places. RD Jones + Associates completed the interior design of the amenity spaces. Midland Lofts features a curated collection of art that was commissioned to celebrate the artists who performed in the Midland Theatre. Cordish developed the Power & Light District, which spans nine city blocks and has included more than $9.7 billion in public and private investment over the last 15 years. In 2008, Cordish and AMC completed a two-year, multi-million-dollar renovation …

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IndustrialLeasing ActivityMidwestMinnesotaOffice

GN to Relocate North American Headquarters to Shakopee, Minnesota, in 2025

by Kristin Harlow

SHAKOPEE, MINN. — GN, a hearing, audio, video and gaming gear solutions company, has unveiled plans to relocate its North American hearing headquarters from Bloomington to Shakopee in 2025. The company will occupy the former Shutterfly Midwest production facility along Highway 169. GN finalized a 12-year lease and has begun planning for renovation and construction to turn the site into a 218,437-square-foot hearing aid manufacturing, repair and shipping facility. The property will also house sales, customer service and marketing support for the company’s lead hearing aid brand, ReSound, as well as professional support services for GN’s other hearing aid brands Jabra Enhance and Beltone. The company currently employs approximately 550 people in Minnesota, more than half in manufacturing jobs. GN, with global headquarters in Copenhagen, has occupied the Bloomington facility at 8001 Bloomington Freeway East since 2001. The new lease represents a 79 percent increase in space from the Bloomington location. Andrew Odney and Andrew Heieie of Colliers represented GN in the lease. Built in 2014, the Shakopee property is situated on more than 22 acres at 5005 Dean Lakes Blvd. The building features 160,000 square feet of production and warehouse space along with approximately 58,000 square feet of office …

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Affordable HousingDevelopmentMichiganMidwestMultifamily

Standard Communities, River Caddis to Build $56M Affordable Housing Community in Kalamazoo, Michigan

by Kristin Harlow

KALAMAZOO, MICH. — Standard Communities, in a joint venture with River Caddis Development, will build River’s Edge, a $56 million affordable housing community in Kalamazoo. A public-private partnership for the project includes the Michigan State Housing Development Authority, Kalamazoo County and the City of Kalamazoo. WNC & Associates is the equity partner. River’s Edge will feature 228 units, with 184 designated as affordable for those earning 60 percent or less of the area median income (AMI). The remaining 44 units are for residents with incomes under 120 percent of AMI. Affordability is made possible by Low-Income Housing Tax Credits. Located at 508 Harrison St. and 66 Gull Road, River’s Edge is comprised of two parcels totaling 7.4 acres northeast of downtown Kalamazoo. The project will include two four-story multifamily buildings, a four-unit live/work building and a commercial building with a leasing office and resident amenities such as a fitness center, playground and outdoor terraced patio. The community will have access to pedestrian paths connecting with the 35-mile Kalamazoo River Valley Trail. The project marks Standard’s entry into the Michigan market.

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LoansMidwestOhioRetail

BWE Arranges $31.8M Loan for Refinancing of 506,870 SF Shopping Center in Fairlawn, Ohio

by Kristin Harlow

FAIRLAWN, OHIO — BWE has arranged a $31.8 million loan for the refinancing of Market Square at Montrose, a Home Depot-anchored shopping center in Fairlawn near Akron. Built in the 1990s and located at 4020 Medina Road, the 506,870-square-foot property is currently 88 percent leased. Tenants include Dick’s Sporting Goods, Staples, Cost Plus, Steak N Shake and Golf Galaxy. A new lease with Tesla has recently been executed. Brian Bruening of BWE arranged the floating-rate loan with no interest rate caps on behalf of the undisclosed borrower. The lender was also undisclosed.

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LoansMichiganMidwestMultifamilySeniors Housing

Bayview PACE Provides $4.3M in C-PACE Financing for Seniors Housing Property in Taylor, Michigan

by Kristin Harlow

TAYLOR, MICH. — Bayview PACE has provided $4.3 million in C-PACE financing for the 81-unit Hampton Manor-Taylor seniors housing community in Taylor near Detroit. The project sponsor is Florida-based Build Senior Living, the development arm of Hampton Manor. Licensed for 102 beds, Hampton Manor-Taylor features 65 assisted living units and 16 memory care units. The $4.3 million in C-PACE funds are part of a refinancing on the already-completed Taylor project, which is substantially leased. C-PACE, or Commercial Property Assessed Clean Energy, can be used in a variety of applications including new construction and renovations. It can be utilized to recapitalize projects completed within three years in many jurisdictions.

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AcquisitionsIllinoisMidwestMultifamily

AmTrust RE Acquires 213-Unit Parkline Chicago Luxury Apartment Tower in East Loop

by Kristin Harlow

CHICAGO — AmTrust RE has acquired Parkline Chicago, a 213-unit luxury apartment tower in Chicago’s East Loop neighborhood. The sales price and seller were undisclosed. The 26-story property is located at 60 E. Randolph St. Totaling 210,000 square feet, the building features 189 rental units and 24 penthouses. Amenities include a two-story sky lounge, fitness and yoga studio, indoor/outdoor pool with attached sundeck and private dog run. Commercial tenants in the building’s 6,200 square feet of retail space include Smoothie King and Starbucks. Parkline Chicago features unobstructed views of Millennium Park, Buckingham Fountain and Lake Michigan. AmTrust is a longtime investor in the Chicago office market. John Jaeger, Justin Puppi and Jason Zyck of CBRE brokered the transaction.

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