Midwest

Contegra Breaks Ground on First Building at $129M Lakeside Logistics Center in St. Peters, Missouri

by Kristin Harlow June 21, 2023

ST. PETERS, MO. — Contegra Construction has broken ground on the first of five planned buildings at Lakeside Logistics Center, a $129 million industrial project in St. Peters, a northwest suburb of St. Louis. NorthPoint Development is developing the 190-acre project. The first building, slated for completion by the end of this year, will total 490,000 square feet. It will feature a clear height of 36 feet, 51 dock doors, seven drive-in doors, four office spaces and parking for 490 cars and 134 trailers. Lakeside Logistics Center will ultimately consist of up to five speculative buildings totaling 1.6 million square feet.

June 21, 2023

Acquisitions Illinois Midwest Multifamily Seniors Housing

Senior Lifestyle Acquires Four Seniors Housing Communities in Metro Chicago

by Kristin Harlow June 21, 2023

ILLINOIS — Senior Lifestyle has acquired four seniors housing communities in metro Chicago for an undisclosed price. The properties include Aspired Living of La Grange, Aspired Living of Westmont, Aspired Living of Prospect Heights and Aspired Place of Lake Zurich. The communities offer a variety of living options such as assisted living, memory care and supportive living residences. Each property offers exclusive programming and gourmet dining options.

June 21, 2023

Acquisitions Illinois Industrial Midwest

Colliers Brokers Sale of I-88 Gateway Logistics Center in Aurora, Illinois

by Kristin Harlow June 21, 2023

AURORA, ILL. — Colliers has brokered the sale of the I-88 Logistics Center in Aurora for an undisclosed price. Built on a speculative basis by Opus North Development in 2015, the 604,556-square-foot facility features a clear height of 32 feet and parking for 63 trailers. At the time of sale, the property was fully leased to Ryder Logistics, whose lease runs through 2027. Jeff Devine and Steve Disse of Colliers represented the seller, an institutional real estate advisor. An undisclosed financial institution purchased the asset.

June 21, 2023

Acquisitions Midwest Office Wisconsin

Marcus & Millichap Negotiates $3.4M Sale of Office Building in Racine, Wisconsin

by Kristin Harlow June 21, 2023

RACINE, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Warwick Business Court in Racine, about 30 miles south of Milwaukee. The 24,500-square-foot office building is situated on Warwick Way. At the time of sale, the property was 89 percent occupied and anchored by three medical tenants. The building was constructed in 2000 and renovated within the last three years. Brett Rodgers, Frank Roti and Alex Sacks of Marcus & Millichap represented the seller, a limited liability company. The team also secured and represented the buyer, a private investor.

June 21, 2023

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Arranges Sale of 101,323 SF Industrial Building in Spring Grove, Illinois

by Kristin Harlow June 21, 2023

SPRING GROVE, ILL. — Entre Commercial Realty has arranged the sale of a 101,323-square-foot industrial building in Spring Grove, a city in Northeast Illinois. The building sits on 10 acres at 3106 N. Route 12. Spring Grove-based All-Rite Spring Co. acquired the facility with plans to consolidate operations from multiple buildings. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the buyer. The sales price and seller were undisclosed.

June 21, 2023

Development Indiana Industrial Midwest

Walmart Opens 2.2 MSF Fulfillment Center Near Indianapolis

by Kristin Harlow June 20, 2023

MCCORDSVILLE, IND. — Walmart has opened a new 2.2 million-square-foot fulfillment center in McCordsville, about 20 miles northeast of Indianapolis. The project marks Walmart’s largest fulfillment center to date and will enable the retailer to fulfill more orders via next- or two-day shipping. More than 1,000 Walmart associates will work at the fulfillment center. Walmart employs more than 43,000 associates in Indiana.

June 20, 2023

Civic Development Indiana Midwest

Clayco Breaks Ground on $78M Terminal Expansion, Renovation Project at Fort Wayne International Airport

by Kristin Harlow June 20, 2023

FORT WAYNE, IND. — Clayco has broken ground on a $78 million expansion and renovation project for the East Terminal at Fort Wayne International Airport in Indiana. An expansion of the West Terminal wrapped up in May. Mead & Hunt is the architect. In addition to the renovation and expansion, the project also includes relocating all airline gates and passenger boarding bridges to the second level; expanding the TSA security checkpoint area; relocating the airport restaurant; and creating a new frequent flyer lounge. Work will also include new and improved public areas, including additional restrooms, new meter and greeter space, expanded circulation areas and vertical transportation. Plans also call for updating the existing baggage claim and rental car areas. Clayco will demolish existing interior and structural components to expand the building outward and vertically over the first floor, and expand the building to include a new east concourse. Completion is slated for June 2025.

June 20, 2023

Development Industrial Midwest Minnesota

ALCAT Broadway Begins Development of 182,000 SF Spec Industrial Building in Minneapolis

by Kristin Harlow June 20, 2023

MINNEAPOLIS — Developer ALCAT Broadway LLC has begun construction of The Broadway, a 182,000-square-foot speculative industrial building located at the intersection of Broadway Street and Industrial Boulevard in Minneapolis. The project will feature a clear height of 32 feet, 33 dock doors and up to 20 spaces for trailer storage. The development is situated within an Opportunity Zone. Todd Hanson, Jason Sell and Jordan Dick of Cushman & Wakefield will market the project for lease. Completion is slated for the fourth quarter.

June 20, 2023

Acquisitions Midwest Nebraska Retail

Marcus & Millichap Arranges $3.6M Sale of Retail Property in Omaha

by Kristin Harlow June 20, 2023

OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 5,412-square-foot retail property in Omaha for $3.6 million. Constructed in 2021, the building is home to Bank of the West and Dave’s Hot Chicken and is located at 339 N. Saddle Creek Road. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

June 20, 2023

Acquisitions Illinois Midwest Retail

Quantum Brokers Sale of Dollar General-Occupied Property in Winthrop Harbor, Illinois

by Kristin Harlow June 20, 2023

WINTHROP HARBOR, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a single-tenant retail property occupied by Dollar General in Winthrop Harbor, a city in Northeast Illinois. The sales price was undisclosed. The building was constructed in 2013 and is located at 914 Sheridan Road. Dollar General signed a 15-year lease in 2013. Daniel Waszak of Quantum represented the buyer, a New York-based investor. An Illinois-based investor was the seller.

June 20, 2023

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