COLUMBUS, OHIO — JLL’s Hotels & Hospitality group has brokered the sale of the Hampton Inn & Suites Columbus Easton for an undisclosed price. The 145-room, select-service hotel is situated near I-270, opposite Easton Town Center. The property is located five miles from the Columbus International Airport and 10 miles from the convention center. Buyer and seller information was not released.
SIOUX CITY, IOWA — Marcus & Millichap has negotiated the sale of Luma Heights Apartments in Sioux City for $3.2 million. The 91-unit apartment complex is located at 217 19th St. Colton Luchsinger of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies. The buyer plans to rebrand the property as Hill Top Flats and remodel the units.
MINNEAPOLIS — EQT Exeter has acquired 20 industrial properties in metro Minneapolis from Prologis for an undisclosed price. EQT Exeter Industrial Value Fund VI was utilized for the acquisition. EQT Exeter plans to acquire an additional four properties by the final closing date. The portfolio consists of more than 5 million square feet and features a mix of bulk, light industrial and last-mile facilities with an average building size of more than 200,000 square feet. The buildings are located across four logistics submarkets and offer proximity to I-494 and I-694. The properties are 90 percent leased by 54 tenants, of which 20 percent are existing tenants within EQT Exeter’s portfolio. The entire transaction is expected to close in the second quarter. Josh McArtor and Caitlin Clinton of Eastdil Secured arranged the transaction with assistance from Michael Caprile and Jusdon Welliver of CBRE.
WILMETTE, ILL. — JT Magen has completed a 150,000-square-foot, two-story retail store for Wayfair at Edens Plaza in the Chicago suburb of Wilmette. Opened on May 23, the project marks the first large-format store for the e-commerce home furnishings company. Wayfair took over the anchor space formerly occupied by the Carson Pirie Scott department store. JT Magen completed a gut renovation of the existing building, providing new facades, utility systems and roofing. The project also included an exterior expansion of 110,000 square feet to include a plaza, new parking lot, landscaping and storm detention center. This area also includes The Porch at Wayfair, a full-service café.
ST. LOUIS — Global design, architecture, engineering and planning firm HOK has unveiled plans to remain in downtown St. Louis once its lease expires in August 2025. The firm will keep its St. Louis office and 170 employees downtown. HOK currently works out of the Equitable Building at 10 S. Broadway, but is exploring other downtown office locations or the possibility of building out new space in the Equitable Building. HOK’s announcement came following the recent rollout of a new public-private partnership between the City of St. Louis and Greater St. Louis Inc. to accelerate efforts to revitalize the downtown area.
CHICAGO — Chicago-based Origin Investments, a multifamily investment manager, is launching a new investment program named Origin Exchange. According to Origin, the program enables qualified 1031 exchange investors to realize significant tax advantages, as well as access institutional-quality multifamily properties and estate-planning efficiencies at a fraction of typical fee structures. The Origin program establishes a Delaware Statutory Trust (DST) to acquire and manage real estate consistent with the firm’s stringent investment criteria — multifamily properties in the path of growth geographically diversified in Origin’s target markets. Interests in the DST qualify for a 1031 exchange. Origin is in final negotiations and due diligence for its first DST acquisition and will offer positions starting at $250,000. The company has appointed Michael O’Shea, an experienced professional with 17 years of work in commercial real estate, to the newly created position of vice president of Origin Exchange.
ST. PETERS, MO. — Blue Bell Creameries has opened a new 16,000-square-foot distribution facility in St. Peters, a western suburb of St. Louis. Integrated Facility Services completed a design-build fire protection project to design, procure and install interior fire sprinkler systems for the building. The system protects water-sensitive areas, including the facility’s freezer and cold loading dock. Blue Bell ice cream is sold in 23 states.
CINCINNATI AND BELTON, MO. — Matthews Real Estate Investment Services has brokered the sale of a two-property industrial portfolio in Cincinnati and Belton, Mo., for $11 million. SiteOne occupies the buildings, which total 37,201 square feet. The seller was the founder of Semco Stone, one of the largest natural stone distributors in the Midwest. SiteOne Landscape Supply acquired Semco Stone in 2021. An all-cash buyer purchased the portfolio at a cap rate of 6.55 percent. Taylor Dintzner, Erik Manarino and John Stroud of Matthews brokered the sale.
BROOKFIELD, WIS. — Pearlmark has received a $7 million mezzanine loan for the refinancing of The Ruby at Brookfield Square, a 231-unit apartment community in the Milwaukee suburb of Brookfield. The property is part of the larger mixed-use development, Brookfield Square, which is a redevelopment of a shopping mall completed in September 2023. The community consists of two four-story buildings connected by a skybridge. Amenities include a pool, golf simulator, fitness studio, lounge, game room, coworking spaces, storage units and a pet spa. Värde Partners provided the senior loan on behalf of Pearlmark Mezzanine Realty Partners V LP. Mark Witt of Pearlmark arranged the financing. Wingspan Development Group was the developer of the property.
CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider, and the buyer was a Midwest-based owner-operator looking to expand its footprint throughout the region. Brad Clousing, Daniel Geraghty and Ryan Saul of SLIB brokered the transaction.
