Friday, July 3, 2026
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Midwest

IndianaIndustrialLeasing ActivityMidwest

Prime Beverage Group to Occupy 915,720 SF Industrial Facility in Metro Indianapolis

by Kristin Harlow

FAIRLAND, IND. — Prime Beverage Group, a beverage contract manufacturer, has expanded into the Indianapolis market. The company has secured approvals to establish a beverage production facility in Fairland, a southeast suburb of Indianapolis. The property is part of Velocity 74 Trade Center, an industrial development from Browning Real Estate Partners. The tenant also maintains production and warehousing operations in North Carolina. According to Prime, the new Midwest location will provide improved supply chain efficiency, faster turnaround times and greater accessibility for its brand partners in Midwest markets. The Indiana facility totals 915,720 square feet. Warren Snowdon of Foundry Commercial and Brian Zurawski of Colliers represented Prime. Jimmy Cohoat and Jason Speckman of Colliers represented Browning.

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DevelopmentIllinoisIndustrialMidwest

Missner Group, Thackeray Partners Complete 180,000 SF Industrial Project in Chicago

by Kristin Harlow

CHICAGO — The Missner Group, in partnership with Thackeray Partners, has completed a 180,000-square-foot industrial development at 4002 S. Princeton Ave. in Chicago’s Fuller Park neighborhood. Located within Chicago Stockyards Industrial Park, the project marks Missner’s third in the historic industrial district. The speculative facility can accommodate up to four tenants. Larry Goldwasser of CBRE is handling leasing.

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AcquisitionsMidwestMissouriRetail

Gart Properties Acquires 158,000 SF Shopping Center in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Gart Properties has acquired Village at Burlington Creek, a 158,000-square-foot, grocery-anchored shopping center in Kansas City’s Northland corridor. Situated less than 10 miles from downtown with direct access to I-29, Village at Burlington Creek is home to Sprouts Farmers Market, Orangetheory Fitness, Club Pilates, Caribou Coffee, Taco Bell and a variety of daily needs businesses. The acquisition marks Gart’s first outside of Colorado. Chris Robertson of Newmark Zimmer represented Gart. PNC financed the transaction.

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DevelopmentIndustrialMidwestOhio

Scannell Breaks Ground on 1.2 MSF Spec Industrial Building Near Columbus, Ohio

by Kristin Harlow

COMMERCIAL POINT, OHIO — Scannell Properties has broken ground on the first phase of a logistics park in Commercial Point, a southern suburb of Columbus. The 1.2 million-square-foot speculative building will feature a clear height of 40 feet, 60 dock doors and four drive-in doors. The development marks Scannell’s ninth in the central Ohio region. Completion is slated for April 2027. Joel Yakovac of Colliers is handling leasing.

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AcquisitionsMidwestOfficeWisconsin

SRS Real Estate Brokers $39.1M Sale of Office Property Leased to University of Wisconsin Health

by Kristin Harlow

MIDDLETON, WIS. — SRS Real Estate Partners has brokered the $39.1 million sale of a four-story, 197,860-square-foot office property in Middleton. A tenant since 2008, University of Wisconsin Health Administrative Services occupies the entire property and recently signed a new 20-year lease. John Redfield and John Battle of Lee & Associates represented the seller, a California-based private owner. The buyer was ASG Equities.

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AcquisitionsMidwestRetailWisconsin

Marcus & Millichap Arranges $5.3M Sale of Retail Property in Sun Prairie, Wisconsin

by Kristin Harlow

SUN PRAIRIE, WIS. — Marcus & Millichap has brokered the $5.3 million sale of a net-leased childcare facility occupied by Willowbrae Academy in Sun Prairie. The newly built property totals 11,790 square feet. There are more than 14 years remaining on the lease. Dominic Sulo and Todd Lindblom of Marcus & Millichap represented the seller, a Chicago-based developer. Sulo and Sam Malato procured the locally based 1031 exchange buyer.

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KansasLeasing ActivityMidwestRetail

Woodhouse Spa to Open 6,840 SF Location at Northridge Plaza in Olathe, Kansas

by Kristin Harlow

OLATHE, KAN. — Woodhouse Spa is set to open a new location at Northridge Plaza in Olathe. The day spa will occupy a 6,840-square-foot standalone building within the center for its second location in the Kansas City market. Northridge Plaza is home to Dick’s Sporting Goods, Aldi, Ross Dress for Less, U.S. Bank, Panera Bread, Chipotle and Hallmark Gold Crown. A local husband-and-wife franchise team will own and operate the Olathe Woodhouse Spa location. The spa is expected to open in September. Chad LaSala of NAI Heartland represented the tenant in the lease. Erin Johnston of Copaken Brooks represented the landlord on an internal basis.

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Affordable HousingDevelopmentLoansMidwestMultifamilyOhioSeniors Housing

KeyBank Provides $56M in Construction Financing for Ohio Affordable Seniors Housing Project

by Kristin Harlow

GALLOWAY, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided a $16.5 million taxable construction loan, a $9.4 million federal Low Income Housing Tax Credit (LIHTC) equity investment and an $8.2 million state LIHTC investment for the construction of Clover Glen II in Galloway near Columbus. National Church Residences is developing the 96-unit affordable housing project for seniors age 55 and older. KeyBank Commercial Mortgage Group also provided a Freddie TEL permanent loan of $8.2 million. KeyBanc Capital Markets served as bond underwriter and underwrote $13.8 million in tax-exempt bonds for the project. Clover Glen II will feature 15 units restricted to residents earning up to 50 percent of the area median income (AMI), 76 units restricted to 60 percent AMI and five units for 70 percent AMI. Amenities at the four-story property will include a clubhouse, fitness center, central laundry, onsite management, surface parking and picnic areas. David Lacki and Ryan Olman of KeyBank CDLI structured the financing, while Sam Adams and Alex Steckler of KeyBanc Capital Markets underwrote the bonds. In October 2022, CDLI, through an investment with Ohio Capital Corp. for Housings, closed the Clover Glen I transaction.

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AcquisitionsIndianaIndustrialMidwest

JLL Brokers Sale of 826,687 SF Industrial Portfolio in Suburban Indianapolis

by Kristin Harlow

BROWNSBURG, IND. — JLL Capital Markets has brokered the sale of Park 74 Commerce Center, a two-building industrial portfolio totaling 826,687 square feet in Brownsburg within metro Indianapolis. The portfolio includes a 580,884-square-foot cross-dock facility and a 245,803-square-foot rear-load building, both constructed in 2024. Building features include clear heights of 40 and 32 feet, 84 dock doors, ample trailer parking and connectivity to the CSX railway via an active rail spur. The properties are fully leased to three tenants representing abrasives manufacturing, electric motors and flexible film production. The assets provide immediate access to I-74 via Ronald Reagan Parkway. Sean Devaney, Kurt Sarbaugh, Ed Halaburt, Ross Bratcher, Cameron Chandra and Luke Davis of JLL represented the sellers, Brennan Investment Group and RGA ReCap Inc., on behalf of Reinsurance Group of America Inc. Brian Buschuk and Brian Seitz provided local market expertise out of JLL’s Indianapolis office. Buyer information was not provided.

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AcquisitionsIowaLoansMidwestMultifamily

Associated Bank Originates $17.7M Acquisition Loan for Townhome Community in Metro Des Moines

by Kristin Harlow

URBANDALE, IOWA — Associated Bank has originated a $17.7 million loan for Tricap Investments for the phased acquisition of the Townhomes at Magnolia Heights in Urbandale, a suburb of Des Moines. The 105 two-story townhome rental units are adjacent to the 240 for-sale, single-family and townhome community of Magnolia Heights. Elizabeth Hozian of Associated Bank managed the loan arrangements and closing. Tricap Investments focuses on the acquisition of low-density multifamily housing in suburban markets.

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