Thursday, July 9, 2026
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DevelopmentIllinoisIndustrialMidwest

PREMIER Design + Build Group Completes 1.2 MSF Phase I of Logistics Campus in Glenview, Illinois

by Kristin Harlow

GLENVIEW, ILL. — PREMIER Design + Build Group has completed Phase I of The Logistics Campus, a master-planned industrial campus in Glenview developed by Dermody Properties. Phase I consists of more than 1.2 million square feet across five buildings, all of which achieved LEED Silver certification. There is capacity for over 2 million square feet for future phases. As part of the project, nearly 400 trees were dug up and moved to a temporary nursery. A local landscaping company replanted the trees as trails were built.

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AcquisitionsMidwestMinnesotaMultifamily

Habitat Acquires 214-Unit Rental Townhome Community in Woodbury, Minnesota

by Kristin Harlow

WOODBURY, MINN. — Habitat has acquired Seasons Villas, a multifamily community with 214 townhome-style rental units in the Twin Cities suburb of Woodbury. The purchase price was undisclosed. Seasons Villas features 47 single-story units and 167 two-story units. Floor plans span 960 to 1,160 square feet. Habitat also assumed management of the property. In addition to performing routine asset preservation and maintenance improvements, Habitat plans to enhance the pet-friendly community with the addition of a dog park. The seller was Boston Capital Group, and Willow Bridge Property Co. previously managed the asset. Habitat’s acquisition team managed the purchase process, supported by the Middle-Income Affordable Preservation Fund, a $150 million joint venture between Enterprise Community Partners and Banc of America Community Development Co. The fund focuses on preserving “missing middle” housing by investing equity capital to develop and acquire properties with affordability generally between 80 and 120 percent of the area median income. CBRE’s Minneapolis team represented the seller.

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AcquisitionsMidwestOhioRetail

Cooper Group Brokers $7.1M Sale of Kruse Commons Retail Property in Solon, Ohio

by Kristin Harlow

SOLON, OHIO — The Cooper Commercial Investment Group has brokered the $7.1 million sale of Kruse Commons in Solon, a suburb of Cleveland. The two-building retail property is anchored by Panera Bread and ice cream shop Mitchell’s Homemade. Dan Cooper of Cooper Group represented the seller, a private investment group out of the Cleveland area. A Midwest-based fund purchased the asset at full price, representing a cap rate of 6.75 percent and $276 per square foot. Kruse Commons was 78 percent leased at the time of sale.

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AcquisitionsIllinoisMidwestRetail

Fortec Sells Early Childhood Education Facility in Suburban Chicago for $4.9M

by Kristin Harlow

BARRINGTON, ILL. — Fortec has sold an early childhood education facility on nearly 2 acres in the Chicago suburb of Barrington for $4.9 million. The developer purchased the property at 310 E. James St. in early 2024 for $695,000. Previously serving as the headquarters of the Barrington School District from the early 1970s until 2019, the property was redeveloped for The Nest Schools, an early childhood education operator with over 50 locations nationwide. At the time, Fortec signed a 17-year lease with The Nest Schools. The 12,413-square-foot building serves approximately 200 students from ages six weeks to 12 years old. As part of the project, Fortec invested $2.8 million to extensively renovate the existing structure and construct an adjacent playground. The lease will transition to the buyer, Autumn Ridge LLC. Milo Spector of Northmarq represented Fortec in the sale.

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DevelopmentMidwestMultifamilyStudent HousingWisconsin

Joint Venture Breaks Ground on 717-Bed Student Housing Development Near University of Wisconsin-Madison

by Kristin Harlow

MADISON, WIS. — A joint venture between Mortenson Development, Northwestern Mutual Real Estate and PeakMade Real Estate has broken ground on Theory Madison, a 717-bed student housing development located near the University of Wisconsin-Madison campus. The 12-story tower will offer 213 units in a variety of configurations. Shared amenities will include rooftop decks, a 24-hour fitness center, study rooms, a podcast room, pet spa and clubroom. The community is being developed through a public-private partnership with the city of Madison and will offer affordably priced units in collaboration with the University of Wisconsin’s department of financial aid. The property is targeting LEED Silver certification and is expected for completion in fall 2026. 

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IllinoisLeasing ActivityMidwestOffice

Fortune Brands Consolidates US Offices into Deerfield, Illinois Headquarters

by Kristin Harlow

DEERFIELD, ILL. — Fortune Brands Innovations Inc. is consolidating its U.S. regional offices into one campus headquarters in the northern Chicago suburb of Deerfield. Fortune Brands will occupy two buildings on its campus in Deerfield. The company was incented to expand its headquarters in Illinois with annual tax credits to be provided through the State of Illinois Economic Development for a Growing Economy program. By the end of 2027, Fortune Brands will have capacity for over 1,000 professional associates in its new headquarters. This includes associates who relocate from one of the company’s current offices as well as roles newly hired in the Chicago area. The company’s digital-focused office in San Francisco, along with its U.S. manufacturing facilities, U.S. distribution centers, sales offices and international sites, will continue operations as usual.

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DevelopmentHospitalityMichiganMidwest

Azul Hospitality Opens 154-Room AC Hotel Detroit

by Kristin Harlow

DETROIT — Azul Hospitality has opened the AC Hotel Detroit, a 154-room hotel in the Brush Park neighborhood of Detroit. The 10-story property marks the first AC Hotel in southeast Michigan. Developed by the Roxbury Group in partnership with Peachtree Group, the hotel features a glass-enclosed lobby bar named The Conservatory, a rooftop venue and the restoration of the historic Bonstelle Playhouse. The Bonstelle, which is separately managed but connected to the hotel, will be used for live performances as well as civic, corporate and private events. Additionally, Azul has converted the Cadillac House, an historic property in Lexington, Mich., into the Tapestry Collection by Hilton. The 23-room hotel underwent an extensive renovation and expansion. The property also features the Hidden Cavern event venue and the Cadillac House Tavern & Bar.

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AcquisitionsIndianaMidwestMultifamily

Standard, Arrow Street Sell 244-Unit Luxury Apartment Complex in Downtown Indianapolis

by Kristin Harlow

INDIANAPOLIS — Standard Real Estate Investments LP and Arrow Street Development have sold Wesley Place, a 244-unit luxury apartment complex in downtown Indianapolis. The complex marks the only luxury residential building in the Medical District and was built in 2023 as part of Standard’s strategic investment program with Belay Investment Group LLC. Situated on 2 acres, the community is within walking distance of Indiana University Health Campus, a $4.3 billion expansion and redevelopment project that broke ground in 2022. Wesley Place was 91 percent leased at the time of sale. Amenities include a game room, resident lounge, pet spa, fitness center, bike storage and an interior courtyard with a pool deck. Wesley Place also includes 3,000 square feet of street-level retail space and parking for 327 vehicles. Amanda Friant, Ken Martin, Mark Stern, Zach Kaufman and Sam Grohe of JLL represented the sellers. The buyer and sales price were undisclosed.

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AcquisitionsMichiganMidwestRetail

Mid-America Brokers Sale of 151,673 SF Bloomfield Plaza Shopping Center in Suburban Detroit

by Kristin Harlow

BLOOMFIELD HILLS, MICH. — Mid-America Real Estate Corp. has brokered the sale of Bloomfield Plaza, a 151,673-square-foot shopping center in the Detroit suburb of Bloomfield Hills. The sales price was undisclosed. Anchor tenants at the fully leased property include Nino Salvaggio International Marketplace and Trader Joe’s. Additional tenants include Andiamo Italian, CVS, Planet Fitness and Sephora. Located at the southwest corner of Maple and Telegraph Roads, the center has served the community since 1957. Ben Wineman and Daniel Stern of Mid-America represented the seller, the family owners of Bloomfield Plaza’s original developer. Jack Berke of Taylor Real Estate Services represented the buyer, a private investor.

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LoansMidwestMultifamilyWisconsin

ACRES Originates $26.3M Acquisition Loan for Aberdeen Apartments in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — ACRES Capital LLC has originated a $26.3 million loan for the acquisition of Aberdeen Apartments in Madison. The high-rise student housing property is located near the University of Wisconsin-Madison campus. The 12-story building features 224 beds across 77 units along with two commercial suites. The property’s total net rentable area is 69,033 square feet. Loan terms were not provided.

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