PRAIRIE VILLAGE, KAN. — Women in Real Estate Development (WIRED) is nearing completion of a wellness and beauty destination at the corner of 75th Street and State Line Road in Prairie Village near Overland Park. The 7,000-square-foot property is named “c u r a t e d.” In August 2024, a group of 22 local women investors, led by Sheryl Vickers of Select Sites LLC, acquired the property. They have reimagined the building from 1958 into a commercial space tailored for health, beauty and wellness practitioners looking to reach consumers across Mission Hills, Waldo, Brookside, Leawood, Overland Park and Fairway. The interior space features new paint, flooring and lighting. The project’s suites feature natural light, private entries and modern finishes. The project also included the installation of new energy-efficient windows. Final plans call for a new parking surface and concrete with ADA access and new landscaping. The anchor tenant is The Healing Collective, which occupies eight suites and brings the building’s occupancy to 70 percent.
COLUMBUS, OHIO — Abide Capital Group and joint venture partner MCB Real Estate have acquired Harlow on Main, a 120-unit apartment complex in downtown Columbus, for $16.5 million. Purpose-built for working professionals and recent graduates, the property at 195 E. Main St. in the Civic Center District was completed in 2020. At the time of sale, Harlow on Main was more than 86 percent leased. The asset features 7,000 square feet of ground-floor retail space, structured parking and an amenity suite. WesBanco provided acquisition financing. Newmark marketed the property for sale on behalf of the undisclosed seller.
ROSEMOUNT, MINN. — EGA Spectro Alloys, a Midwest-based producer of recycled aluminum alloys, has begun production at its aluminum recycling expansion project in Rosemount. The 90,000-square-foot facility will produce up to 120 million pounds per year of recycled aluminum billets from scrap aluminum. The expansion will add up to 50 full-time jobs once the facility reaches full production capacity in the first quarter of 2026. Aluminum billet, logs of aluminum up to 25 feet long, is used as raw material for extruders, which turn it into products like railings, window and door trim, and structural components for cars, boats, airplanes, trailers and docks. Recycling aluminum requires 95 percent less electricity than producing new aluminum and generates a fraction of the greenhouse gas emissions. Metal from the facility will be sold under EGA’s recycled product brand RevivAL, a nod to the company’s 52-year history of giving used aluminum new life. The facility also features a new laboratory.
CHICAGO — Interra Realty has arranged the $10.7 million sale of a 22-unit apartment building located at 811 W. Lill Ave. in Chicago’s Lincoln Park neighborhood. The vintage asset features four one-bedroom, 12 two-bedroom and six three-bedroom units. Floor plans average 1,078 square feet. Constructed in 1901, the property has been recently updated with new finishes as well as in-unit laundry and individual HVAC. Brad Feldman of Interra represented the buyer, a Chicago-based private investor. Joe Smazal of Interra represented the seller, a local private investor and developer.
OAK BROOK, ILL. — Mid-America Real Estate Corp. has brokered the sale of The Oaks of Oak Brook, a 67,146-square-foot retail center in the Chicago suburb of Oak Brook. The property was 98 percent leased at the time of sale to tenants such as Athletico, Activate Games, NxStage Kidney Care, Blackberry Market, Erik’s Bike Board & Ski and OrthoLazer. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Newport Capital Partners. The asset sold to a private buyer.
ANN ARBOR AND ROCHESTER HILLS, MICH. — SweatHouz has signed retail leases to open new locations in Ann Arbor and Rochester Hills. SweatHouz is a chain of studios that offers infrared saunas, cold plunges and other wellness services. Jason and Amy Hanley are the area developers for SweatHouz in Michigan and have signed on to open 17 locations across the state. SweatHouz currently has 50 locations open and operating across the country and another 50 in permitting or construction phases. The Ann Arbor facility will total 2,628 square feet at 3143 Ann Arbor Saline Road, and the Rochester Hills location will span 2,130 square feet at 1495 N. Rochester Road. Both will serve as outparcels to Meijer stores. The tenant group also owns six Orange Theory locations in Michigan. Norman Abro of Keystone Commercial Real Estate brokered the leases.
By Harrison Kruse and Ned Turner, CBRE As we near the second half of 2025, the Des Moines industrial market is starting to see a shift in fundamentals, as new deliveries and the pipeline of new big-box speculative warehouse product have come to a complete halt. Like many cities in the upper Midwest post-COVID, the Des Moines MSA saw an influx of out-of-state developers backed by institutional capital go ground up with new big-box product when the economy was stimulated by the Federal Reserve reducing the federal funds rate below 1 percent. This resulted in historically compressed treasury yields and an abundant amount of liquidity injected into the capital markets. This effect on the national economy escalated consumer demand for e-commerce and locally, ag-related products, which are the state of Iowa’s most valuable export on an aggregate basis. The Des Moines MSA between 2021 and 2024 had more than 6.8 million square feet of new industrial space delivered to the market, which is about 10.2 percent of the total market size on a square-foot basis. During those years, net absorption increased on an annual basis between 800,000 and 1.5 million square feet. Pre-COVID, Des Moines’s average net absorption was between …
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Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers
By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amid some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing. Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …
KETTERING, OHIO — Vision Cos. has acquired 28.5 acres within the Miami Valley Research Park (MVRP) in Kettering, an inner suburb of Dayton. The property is adjacent to Industrial Commercial Properties’ (ICP) Sixth River office park. As part of the Sixth River overall master plan, Vision plans to build a market-rate multifamily community, the first large multifamily project built in the city since the mid-1980s, according to a release. Known as VC Flats, the project will feature approximately 264 apartment units across nine three-story buildings. Proposed amenities include a clubhouse, fitness center, pool, sand volleyball court, outdoor patio and rooftop deck offering views of the adjacent lake. The project is made possible through collaborative efforts by the city and ICP, which played a role in zoning adjustments and crafting incentive packages to attract a residential developer and operator. MVRP is home to several major employers, including Reynolds & Reynolds, Solvita, Matrix Research, Resonant Sciences, Woolpert, Resonetics and Eastman Kodak. ICP continues to retain ownership of the adjacent Sixth River office park, which includes 290,000 square feet of office space across five buildings. ICP also has additional land sites for further commercial development opportunities within the research park.
OVERLAND PARK, KAN. — An investment entity led by Copaken Brooks has agreed to sell 6201 College Boulevard, a landmark office building located at the intersection of Lamar Avenue and College Boulevard, to the City of Overland Park. The city plans to convert the 147,000-square-foot building into its future city hall. The sale is expected to close in the fourth quarter. Originally developed in 1990 by Copaken White and Blitt as the national headquarters for the NCAA, the property continues to serve as a multi-tenant office facility. While the ownership will change, Copaken Brooks will remain the property manager, as the city does not manage commercial buildings. The city will begin planning its transition of the space in the coming years.