Martinez Produce & Seafood Expands Chicagoland Footprint with New Elgin Facility

ELGIN, ILL. — Chicago-based Martinez Produce & Seafood has expanded its Chicagoland footprint with the purchase of a 65,772-square-foot industrial facility in Elgin. The building, which features six truck docks and two drive-in doors, more than doubles the company’s footprint. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Martinez Produce & Seafood, while Lee & Associates represented the seller. The sales price and seller were not

May 23, 2022Acquisitions, Illinois, Industrial, Midwest

Opus Group Breaks Ground on 302,300 SF Spec Industrial Building in Council Bluffs, Iowa

COUNCIL BLUFFS, IOWA — The Opus Group has broken ground on River Road Logistics, a 302,300-square-foot speculative industrial building in Council Bluffs. Located at the intersection of Nebraska Avenue and River Road, the development will feature 34 dock doors, two drive-in doors, 50 dedicated trailer parking stalls, 225 car parking stalls and a clear height of 32 feet. More than half of the building has been preleased. The facility is slated for completion in the first quarter of 2023, and …

May 20, 2022Development, Industrial, Iowa, Midwest

JLL Brokers $15.1M Sale of Grocery-Anchored Retail Center in Wisconsin

SAINT FRANCIS, WIS. — JLL Capital Markets has brokered the $15.1 million sale of Whitnall Square in Saint Francis, just south of Milwaukee. Pick ’N Save anchors the 133,421-square-foot shopping center, which was constructed between 1989 and 1991. Other tenants include Petco, Planet Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails. The center is 96 percent leased. Amy Sands, Clinton …

May 20, 2022Acquisitions, Midwest, Retail, Wisconsin

Maverick Commercial Arranges $14M in Permanent Financing for Home Depot-Occupied Property in Chicago

CHICAGO — Maverick Commercial Mortgage Inc. has arranged a $14 million first mortgage loan for a 103,550-square-foot retail property occupied by Home Depot in Chicago’s Chatham neighborhood. Earlier this year, Home Depot signed a new 10-year lease with MG Development LP for the property, which is located at 200 W. 87th St. and includes an exterior garden center. A regional bank provided the 10-year, floating-rate loan, which features a 25-year amortization schedule. Proceeds from the loan …

May 20, 2022Illinois, Loans, Midwest, Retail

Greenstone Partners Negotiates $8.2M Sale of Industrial Building in Portage, Indiana

PORTAGE, IND. — Greenstone Partners has negotiated the $8.2 million sale of a 52,798-square-foot industrial building in Portage, a city in northwest Indiana. Completed in June 2021, the building is named The Diversey at AmeriPlex and is situated within AmeriPlex at the Port, a 385-acre industrial park. Tenants at the property include Fagor Arrasate, Johnson Brothers, Shorebags and Dream Big Gymnastics. Jason St. John of Greenstone represented the seller, Indiana-based developer Holladay …

May 20, 2022Acquisitions, Indiana, Industrial, Midwest

Kiser Group Brokers $3.2M Sale of Apartment Building in Chicago

CHICAGO — Kiser Group has brokered the sale of a 21-unit apartment building in Chicago’s East Rogers Park neighborhood for $3.2 million. The property is located at 1237 W. Morse Ave. and includes 14 one-bedroom units and seven two-bedroom units as well as nine parking spaces. Danny Logarakis of Kiser represented the seller, who had owned the property for more than two decades and completed upgrades. Logarakis also represented the undisclosed buyer, who is expected to renovate units and …

May 20, 2022Acquisitions, Illinois, Midwest, Multifamily

Build-to-Rent Planning and Entitlements: How to Avoid Challenges

The build-to-rent (BTR) property type has gained significant traction in the commercial real estate market due to increasing interest from tenants, investors and developers. Developers moving into the BTR market before 2020 originally focused on this sector as an “in between” product for future home buyers who weren’t ready to commit to a single location but wanted additional space and amenities.The pandemic fueled tenants’ desires for more privacy and space without the long-term …

May 19, 2022Affordable Housing, Bohler, Build-For-Rent, Content Partner, Development, Features, Midwest, Multifamily, Northeast, Single-Family Rental, Southeast, Texas, Western

Developer Mark Bennett Breaks Ground on $150M Residential Project in Detroit’s Lafayette Park

DETROIT — Detroit developer Mark Bennett has broken ground on Lafayette West, a $150 million apartment and condominium project in Detroit’s historic Lafayette Park neighborhood. The 318-unit development will offer floor plans ranging in size from 436 to 1,223 square feet. Amenities will include a fitness center, pool, clubroom, coworking space and electric vehicle charging stations. Twenty percent of the 230 apartment units will be reserved as affordable housing. The starting price for the …

May 19, 2022Development, Michigan, Midwest, Multifamily

Mid-America Brokers $29.2M Sale of Shopping Center in Chicago’s Elston Corridor

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of Elston Logan Plaza in Chicago’s Elston Corridor for $29.2 million. Anchored by HomeGoods, the shopping center spans 56,080 square feet. Additional tenants include Chipotle, Potbelly Sandwich Shop, Forever Yogurt, David’s Bridal, Verizon, T-Mobile and The Vitamin Shoppe. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Novak Construction Co. Newport Capital Partners was the

May 19, 2022Acquisitions, Illinois, Midwest, Retail

Stonemont, Stotan Industrial to Build 258,720 SF Spec Project in West Chicago

WEST CHICAGO, ILL. — Stonemont Financial Group and developer Stotan Industrial are building a 258,720-square-foot speculative industrial project in West Chicago. Completion of the Class A development is slated for February 2023. Named DuPage Crossings, the facility will feature a clear height of 36 feet, 32 exterior docks, 45 trailer stalls and 219 parking spaces. The 17-acre project will be situated within the Fox Valley submarket and offer immediate access to

May 19, 2022Development, Illinois, Industrial, Midwest