Wednesday, April 30, 2025
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IllinoisIndustrialLeasing ActivityMidwest

Worldwide Flight Services Leases 132,000 SF Cargo Facility at Chicago Airport

by Kristin Harlow

CHICAGO — Worldwide Flight Services (WFS) has leased a new 132,000-square-foot cargo facility that is part of the third phase of the Northeast Cargo Complex at Chicago’s O’Hare International Airport. Realterm developed and owns the facility, which features 122,000 square feet of warehouse space and 10,000 square feet of office space. There is also more than 200,000 square feet of ramp space that can accommodate two group VI aircraft such as the Boeing 747. The project team included BOWA, Clayco and d’Escoto Inc. Realterm is targeting LEED Silver certification for the property, which is equipped with electric vehicle charging stations and solar panels. WFS is a provider of air cargo logistics and ground handling services.

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Affordable HousingDevelopmentIndianaMidwestMultifamily

TWG to Build $9M Affordable Housing Community in West Baden Springs, Indiana

by Kristin Harlow

WEST BADEN SPRINGS, IND. — TWG is building West Baden Lofts, a $9 million affordable housing community in West Baden Springs, a town within French Lick Township in southern Indiana. Located at 942 Main St., the 44-unit development will feature two- and three-bedroom layouts. Units will be reserved for households making 30 to 60 percent of the area median income. Amenities will include a free bikeshare program, free Wi-Fi in common areas and units, a meditation area, fitness center, community room, indoor children’s area, playground and community garden beds. Project funding comes from the Indiana Housing and Community Development Authority, Innovative Veteran Affairs Real Estate, Merchants Capital, Cedar Rapids Bank & Trust and the Town of West Baden Springs. Construction is expected to begin this month and be completed in late 2024.

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AcquisitionsMichiganMidwestMultifamily

Friedman Arranges $4M Sale of Multifamily Property in Marshall, Michigan

by Kristin Harlow

MARSHALL, MICH. — Friedman Real Estate has arranged the $4 million sale of Village Green in Marshall, about 13 miles southeast of Battle Creek. The 54-unit multifamily property is located at 200 W. Drive North. The community was built in 1976, according to Apartments.com. Peter Jankowski of Friedman represented the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Brokers Sale of 21,400 SF Industrial Building in Suburban Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has brokered the sale of a 21,400-square-foot industrial building in the Chicago suburb of Elk Grove Village. The sales price was undisclosed. Located at 605 Bonnie Lane, the vacant property features 2,000 square feet of office space, two dock-high doors, one drive-in door and parking for 25 vehicles. Trinity Scurto of Brown represented the seller, OTO Investment Properties LLC. The buyer, Clear Height Properties, plans to renovate the building and secure new tenants.

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DevelopmentIndustrialMidwestMissouri

Hunt Midwest to Break Ground on 3,300-Acre KCI 29 Logistics Park in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Developer Hunt Midwest is scheduled to break ground Wednesday, June 21 on KCI 29 Logistics Park in Kansas City. The 3,300-acre project, situated near the Kansas City International Airport, is the largest contiguous industrial site in Missouri, according to the developer. Hunt Midwest says the development has the potential to accommodate up to 20 million square feet of industrial space, attract 9,000 jobs and generate $2.5 billion of capital investment. The site is located just north of the new KCI terminal with direct access to the KCI air cargo hub as well as interstates 29 and 435. The State of Missouri has awarded project funding via an industrial grant program and a transportation cost-share program.

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AcquisitionsIndustrialMidwestOhio

Colliers Brokers Sale of 14-Building Industrial Portfolio in Metro Cincinnati

by Kristin Harlow

CINCINNATI — Colliers has brokered the sale of a 14-building industrial portfolio in metro Cincinnati for an undisclosed price. The portfolio is comprised of nine light industrial buildings and five distribution buildings in Cincinnati and Erlanger, Ky. The value-add portfolio was 94 percent leased at the time of sale to 56 tenants across industries that include third-party logistics, air cargo, e-commerce, manufacturing and wholesale trade. John Gartner, Erin Casey and Andrew Jacob of Colliers represented the buyer, TradeLane Properties. Tappan Properties was the seller.

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DevelopmentIllinoisIndustrialMidwest

Velocis Begins Development of 543,603 SF Distribution Center in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Velocis, a Dallas-based private equity real estate fund manager, has begun development of Batavia Logistics Center in suburban Chicago. The 543,603-square-foot distribution center is being developed in partnership with SCOA Real Estate Partners, a fully owned subsidiary of Sumitomo Corp. of Americas. Located four miles north of I-88 at the intersection of Kirk Road and Fabyan Parkway, the project will feature 54 dock doors, four drive-in doors, 117 trailer stalls, parking for more than 400 cars and a clear height of 36 feet. A team of brokers led by Ryan O’Leary of KBC Advisors is handling leasing. Completion is slated for the first quarter of 2024.

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AcquisitionsMidwestMultifamilyNAISeniors HousingWisconsin

NAI Greywolf Arranges Sale of 15-Bed Community-Based Residential Facility in Cedarburg, Wisconsin

by Kristin Harlow

CEDARBURG, WIS. — NAI Greywolf has arranged the sale of a 15-bed community-based residential facility (CBRF) in Cedarburg, about 20 miles north of Milwaukee. The sales price was undisclosed. There are nine private rooms and three semi-private rooms. Dawn Davis of NAI Greywolf represented the seller. Further terms of the transaction were not provided. According to the Wisconsin Department of Health Services, a CBRF hosts five or more unrelated people who live together in a community setting. Services offered include room and board, supervision and support services. Up to three hours of nursing care can be given per week.

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Leasing ActivityMidwestMinnesotaOffice

Law Firm Fredrikson & Byron Moves Into 158,000 SF Office at 60 South Sixth in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Midwest law firm Fredrikson & Byron has moved into a 158,000-square-foot office space at 60 South Sixth, a 40-story tower in downtown Minneapolis. KBS Real Estate Investment Trust III owns the 710,332-square-foot property. Fredrikson & Byron signed the lease in 2020. Amenities at 60 South Sixth include a fitness center, underground parking, concierge services, free Wi-Fi hotspots, a tenant lounge, pool table and conference center. KBS also recently signed leases with Best & Flanagan LLP, a locally based law firm, and Dacotah Bank, a Midwest financial institution. Brent Robertson, Andrea Leon and Jon Dahl of JLL represented KBS in all three leases. Mike Salmen, Larry Serota and Will McDonald of Transwestern represented Fredrikson & Byron. Brent Erickson of Newmark represented Best & Flanagan, and Kevin O’Neill of Colliers represented Dacotah Bank.

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