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Midwest

Build-to-RentDevelopmentMidwestOhioSingle-Family Rental

Buckingham, Onyx+East Break Ground on 120-Unit Build-to-Rent Community in Suburban Columbus

by Kristin Harlow

LEWIS CENTER, OHIO — A joint venture between Buckingham and Onyx+East has broken ground on a 120-unit build-to-rent (BTR) community in Lewis Center within Orange Township. Named Mural Lewis Center, the development is part of Buckingham’s Mural Collection. The two- to four-bedroom homes will range from 902 to 2,685 square feet and include attached two-car garages and private outdoor spaces. All home and yard maintenance is included, and residents can enjoy a playground, pavilion, dog park, community garden, fire pit and walking trails. The first units will be available for rent beginning in December. Mural Lewis Center comes on the heels of Onyx+East and Buckingham’s first BTR project, Mural Brownsburg, located in suburban Indianapolis.

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AcquisitionsMidwestRetailWisconsin

Mid-America Arranges Sale of 85,880 SF Shopping Center in Fitchburg, Wisconsin

by Kristin Harlow

FITCHBURG, WIS. — Mid-America Real Estate Corp. has arranged the sale of Hatchery Hill Towne Center in the Madison suburb of Fitchburg for an undisclosed price. Shadow anchored by Pick ‘n Save, the 85,880-square-foot shopping center was 80 percent leased at the time of sale. Tenants include Panera Bread, Verizon, Cold Stone Creamery, MOD Pizza, Great Dane Pub & Brewing Co., Anytime Fitness, Kim’s Nails and Tabby & Jack’s Pet Supplies. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, Bridge33 Capital. Brar Investments was the buyer.

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Leasing ActivityMidwestOfficeOhioRestaurantRetail

New Tenants Open at Crocker Park Lifestyle Center in Westlake, Ohio

by Kristin Harlow

WESTLAKE, OHIO — New tenants are opening and existing tenants are expanding at Crocker Park lifestyle center in Westlake, a western suburb of Cleveland. New tenants include Color Me Mine, Garage, Océanne, State & Liberty, Ten Seconds Yunnan Rice Noodle, Tradehome Shoes and Vera Bradley. Arhaus and Lucky Shoes are relocating to larger spaces. Additionally, CPL Architecture, Engineering & Planning will soon open an office, and Palmer Holland is expanding its footprint, now occupying a ground-floor space in addition to its third-floor office space. Crocker Park features more than 4.5 million square feet with over 130 local and national retailers and dining options as well as office buildings, luxury apartments and an event venue. Cleveland-based Stark Enterprises is the owner.

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AcquisitionsMichiganMidwestRetail

Marcus & Millichap Brokers $5.5M Sale of Retail Center in Spring Arbor, Michigan

by Kristin Harlow

SPRING ARBOR, MICH. — Marcus & Millichap has brokered the $5.5 million sale of Village Crossing, a 17-suite retail center in Spring Arbor, about 46 miles west of Ann Arbor. The multi-tenant property totals 53,900 square feet and is situated on Spring Arbor Road. The asset consists of two buildings that are 94.4 percent leased. The anchor tenant is Henry Ford Health, which recently extended its lease for five years with annual rent increases. Darin Gross, Seth Haron and Ashish Vakhariya of Marcus & Millichap represented the seller and procured the buyer. The deal closed at 97.3 percent of the asking price.

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AcquisitionsMidwestOfficeWisconsin

NAI Pfefferle Negotiates Sale of 14,185 SF Office Building in Appleton, Wisconsin

by Kristin Harlow

APPLETON, WIS. — NAI Pfefferle has negotiated the sale of a 14,185-square-foot office building in Appleton. The sales price was not disclosed, but the asking price was $2.2 million. Elizabeth Ringgold and Jonathan Glassco of NAI Pfefferle negotiated the sale. Buyer and seller information was not provided.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 204-Unit Multifamily Community in Eden Prairie, Minnesota

by Kristin Harlow

EDEN PRAIRIE, MINN. — JLL Capital Markets has brokered the sale of Cascade at Town Center, a 204-unit multifamily community in the Minneapolis suburb of Eden Prairie. The property was built in 2001 with 18 additional units added in 2018. Units average 1,158 square feet. Amenities include a gym, clubroom, indoor pool, courtyard and garage parking. Josh Talberg, Joseph Peris and Mark Stern of JLL represented both the seller, a joint venture between Harbert Management and Magellan Investment Partners, and the buyer, FPA Multifamily. Elliott Throne and Scott Loving of JLL originated acquisition financing through Freddie Mac.

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IllinoisLoansMidwestRetail

Maverick Commercial Mortgage Arranges $5.6M in Financing for Chicago Retail Property

by Kristin Harlow

CHICAGO — Maverick Commercial Mortgage Inc. has arranged $5.6 million in financing for a three-tenant retail property in the Gold Coast neighborhood of Chicago. The 5,800-square-foot asset was fully leased at the time of the loan closing. A national lender provided the three-year, fixed-rate loan at 6.45 percent. The loan amortizes on a 25-year schedule. Chicago-based JDI Realty was the borrower.

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IllinoisLeasing ActivityMidwestRetail

IMAGE Studios to Open at Fox River Commons Shopping Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Husband-and-wife franchise owners Veronika and Greg Parranto plan to open the first IMAGE Studios concept in Illinois at Fox River Commons shopping center in Naperville later this month. The Parrantos signed a lease with Continental Realty Corp. (CRC) for 10,645 square feet of space at the 241,000-square-foot shopping center. With this transaction, Fox River Commons is now 77 percent leased. Kristin Perry of CRC and Brooke Spinell of Mid-America Real Estate represented the landlord, while Carlie Wilmes of Reimagine CRE represented the tenant. IMAGE Studios, which operates nearly 100 locations throughout 22 states, is an exclusive salon suite that enables hair stylist and other beauty-care professionals to operate independently owned private salon studios under one roof. Approximately 35 new locations are expected to open in 2025, including two in the Chicago area, with seven additional sites expected in Chicagoland by different franchise owners. The Fox River Commons location will contain 48 private salon studios.

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KansasLeasing ActivityMidwestRestaurantRetail

Cactus Grill Debuts at Lenexa City Center in Kansas

by Kristin Harlow

LENEXA, KAN. — Cactus Grill has opened at Lenexa City Center’s Restaurant Row in Kansas. The new location features house-made salsas, fajitas and espinaca dip as well as a spacious bar and patio. Copaken Brooks owns the property, and Erin Johnston is the landlord representative. Ed Gieselman owns Cactus Grill.

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HospitalityIllinoisMidwest

Stantonic Interior Design Firm Unveils Rebranding in Chicago

by Kristin Harlow

CHICAGO — Stantonic, a Chicago-based interior design and procurement firm, has announced that it is officially dropping the company name, “STANTON Interior Concepts” from the brand, effective immediately. The company says the rebranding enables the organization to further diversify its portfolio without the constraints of a strong name association, while also enhancing brand clarity and consistency directed toward the hospitality sector. Stantonic was founded in 2001.

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