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AcquisitionsHealthcareMichiganMidwest

Marcus & Millichap Brokers $3.5M Sale of Medical Office Building in Clinton Township, Michigan

by Kristin Harlow

CLINTON TOWNSHIP, MICH. — Marcus & Millichap has brokered the $3.5 million sale of McLaren Macomb-Gratiot Medical Building, a 17,333-square-foot medical office property in the Detroit suburb of Clinton Township. The asset is fully leased to McLaren Macomb, a subsidiary of the McLaren Health Care Corp. The multi-specialty clinic serves as a hub for McLaren’s residency program and is situated near the affiliated 288-bed McLaren Macomb Hospital. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the seller, Platform Ventures LLC, and the buyer, Nova Sky Investments LLC.

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oLiv Madison Student Housing, Madison, Wisconsin
CaliforniaDevelopmentMultifamilyOhioPennsylvaniaSouth CarolinaStudent HousingTop StoriesWisconsin

Core Spaces Delivers Six Student Housing Developments Totaling 4,549 Beds

by Jeff Shaw

CHICAGO — Core Spaces has completed six student housing communities totaling 4,549 beds across the United States. All six communities have opened to residents ahead of the 2024-2025 school year. The communities are all located near the campuses of major universities, including UC Berkeley, University of Cincinnati, Penn State, University of Wisconsin-Madison and Clemson University. The six new properties include: The communities feature a variety of high-end, student-focused amenities. For example, ōLiv Madison boasts a spa, sauna, fitness center, coworking spaces, private study rooms and a sprawling rooftop sundeck with pool and hot tub. Each property offers a diverse mix of floor plans and unit types to appeal to a range of resident needs and price points. “After years of work to bring a project to life, welcoming new residents home is one of the best parts of what we do,” said Marc Lifshin, CEO of Core Spaces. Core Spaces is a residential developer, owner and operator headquartered in Chicago. The company currently owns or manages more than 38,600 beds. The developer currently has a pipeline of approximately 43,000 beds. The pipeline includes an 800-bed project in Knoxville, Tennessee; three developments in Madison totaling 4,000 beds; a 665-unit, 2,195-bed project in …

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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Cawley CRE Brokers 140-Acre Land Sale for $1B Freezer Cooler Facility in Belvidere, Illinois

by Kristin Harlow

BELVIDERE, ILL. — Cawley Commercial Real Estate (Cawley CRE) has brokered the sale of 140 acres in Belvidere, about 13 miles east of Rockford. A leading Fortune 500 company purchased the site with plans to build a 1.2 million-square-foot freezer cooler facility. Project costs are estimated at $1 billion. The project will include more than 1,000 trailer stalls as well as automation technology and will support the delivery of fresh and frozen food products across the Midwest. Completion is slated for 2027. David Conroy of Cawley CRE brokered the transaction.

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AcquisitionsMidwestMinnesotaOffice

Transwestern Arranges Sale of 300,000 SF Flex Office Building in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Transwestern Real Estate Services has arranged the sale of a 300,000-square-foot flex office building located at 1000 Blue Gentian Road in the Minneapolis suburb of Eagan. The sales price was undisclosed. The buyer, Hunt Electric Corp., will relocate its headquarters from nearby Bloomington. A national electric design, build and maintenance firm, Hunt Electric is currently headquartered in 160,000 square feet at 7900 Chicago Ave. S. Hunt Electric will own its new headquarters property and retain the four tenants currently occupying about half of the building. Chris Weirens, Nate Erickson, Alex Baron, Ben Youds and Max Stewart of Transwestern represented the buyer. Water Street Partners was the seller. Weirens, Erickson and Youds will also represent Hunt Electric in marketing its former property for sale or lease.

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AcquisitionsData CentersIndianaIndustrialMidwest

Partnership Acquires Union Station Data Center, Carrier Hotel in South Bend, Indiana

by Kristin Harlow

SOUTH BEND, IND. — A partnership between fifteenfortyseven Critical Systems Realty (1547) and Harrison Street has acquired the Global Access Point Union Station data center in South Bend for an undisclosed price. The data center sits atop the transcontinental fiber system connecting Chicago to the East Coast. Situated in the historic Union Station in northern Indiana, the property is ranked among the top U.S. carrier hotels and critical network hubs, according to 1547. The facility offers access to over 20 telecommunication network service providers. The buyers plan to make facility upgrades.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $7.8M Sale of Sunset Village Apartment Property in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — Interra Realty has brokered the $7.8 million sale of Sunset Village, an 84-unit multifamily property in the Chicago suburb of Waukegan. Located at 2205-10 N. Butrick St., the community was built over two phases in 1992 and 2001. There are 79 one-bedroom units and five two-bedroom units. Amenities include a secured entrance, lobby and lounge, fitness space, multiple laundry facilities and onsite parking. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the confidential seller. Waterloo and Zito represented a private local partnership in its acquisition.

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Negotiates $4.3M Sale of Multifamily Property in Chaska, Minnesota

by Kristin Harlow

CHASKA, MINN. — Marcus & Millichap has negotiated the $4.3 million sale of Townsquare Apartments in Chaska, an outer-ring suburb of Minneapolis. Located at 220 N. Walnut St. and built in 1989, the multifamily property features 30 units in two- and three-bedroom layouts. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed seller. Jon Ruzicka, broker of record in Minnesota, assisted in closing the transaction. Nate Schammel of MRG Realty Partners represented the buyer, which completed the sale of a 12-unit apartment building in Minneapolis to exchange into this property.

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Leasing ActivityMidwestMissouriOffice

CBRE Negotiates 15 Leases Totaling 105,000 SF at Peabody Plaza Office Tower in St. Louis

by Kristin Harlow

ST. LOUIS — CBRE has negotiated 15 leases totaling nearly 105,000 square feet at Peabody Plaza, a 400,000-square-foot office tower in St. Louis. Rick Messey and Whitney Allen of CBRE represented ownership, New York-based Briar Meads Capital. The leases were completed within the last 18 months. The tenants include Goldstein and Price LC, Citizens for Modern Transit, Sandberg Phoenix and Von Gontard PC, Gray Ritter Graham, Hinshaw Culbertson LLC, SWMW, Consolidated Grain and Barge, Nahon, Saharovich & Troptz, Mueller Counts LLP, Fernandez Law, Brian Stokes PC and Law Offices O’Driscoll LLC, Vinciguerra Jewelers, UKraft, Keefe and Griffiths PC and Simon Law Group PC. Occupancy at the building has risen from 70 percent in 2020 to over 85 percent in 2024. Located at 701 Market St., Peabody Plaza features a top-floor conference center, 7,000-square-foot fitness center, onsite restaurant, underground parking, 24-hour security and onsite management.

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Completes $28.5M North Star Elementary School in Minnesota

by Kristin Harlow

VIRGINIA, MINN. — Kraus-Anderson Duluth has completed construction of North Star Elementary, a $28.5 million school located at 411 S. 5th Ave. in Virginia, a city in northeast Minnesota. The school is part of Rock Ridge Public School’s massive building project following the consolidation of the Eveleth-Gilbert and Virginia school districts. BNDRY Studio designed North Star Elementary, which will serve 600 students annually. Situated on a large city block that formerly housed the district’s elementary and high school, North Star Elementary rises three stories, which minimizes its building footprint and reclaims greenspace. The 79,000-square-foot school serves grades 3-6 and features a variety of collaborative learning spaces and open concept classrooms along with an open-air learning patio on the second floor. Construction began in spring 2022.

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AcquisitionsIllinoisMidwestMultifamily

Greenstone Partners Brokers $7.1M Sale of Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the $7.1 million sale of a 24-unit apartment building in Chicago’s Lincoln Square neighborhood. The property, located at 2247-49 W. Lawrence Ave., also features 1,950 square feet of ground-floor live-work space along with a rooftop deck. Jordan Multack of Greenstone represented the buyer, Breneman Capital, and the undisclosed seller.

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