BEAVERCREEK, OHIO — Dillard’s has opened at The Mall at Fairfield Commons in Beavercreek, marking the retailer’s first location in the Dayton area. The 160,000-square-foot department store occupies the former Macy’s location and introduces a new anchor tenant at the mall, which is owned by Spinoso Real Estate Group. Ownership says the Dillard’s opening reflects the continued evolution of The Mall at Fairfield Commons as it expands the mix of retail, dining and experiential offerings.
By Abigail Sievers, JLL The Indianapolis industrial market is entering 2026 not merely recovering but evolving. What began as a “quiet” shift has matured into a definitive new phase of activity characterized by renewed user confidence, disciplined development and a manufacturing ecosystem that’s gaining national attention. While headlines often focus on coastal or larger Midwest markets, Indianapolis is steadily emerging as a strategic center for large-scale industrial investment, offering the rare trifecta of scalable Class A space, a resilient workforce and the high-capacity infrastructure that modern manufacturers require. Mega deals return After more than two years of cautious expansion, the market is now seeing a resurgence of large industrial commitments. Leases and acquisitions exceeding 500,000 square feet — which had significantly slowed during the previous 24 months — are re-entering the landscape as users move forward with previously paused growth plans amid market uncertainty. The broader leasing environment reflects this momentum. In fourth-quarter 2025 alone, Indianapolis recorded 7.2 million square feet of absorption — the strongest single‑quarter performance since the third quarter of 2021. Year‑to‑date absorption reached 13.1 million square feet, surpassing the previous two years combined. These mega deals confirm what we’re hearing daily from both new and existing …
NORTON SHORES, MICH. — Chobani has unveiled plans for a multi-phase, $567 million expansion of its La Colombe plant in the western Michigan town of Norton Shores. The project is expected to add more than 200,000 square feet of production space and nearly 340 new jobs, while retaining 312 jobs. The company says demand is surging for La Colombe’s signature ready-to-drink lattes. La Colombe first started in Philadelphia in 1994, making crafted coffee in cafes across the country. In 2016, the brand launched its ready-to-drink lattes, which are made in Norton Shores with locally sourced milk. Chobani, which manufactures yogurt, oat milk and creamers, acquired La Colombe in 2023.
CHICAGO AND CINCINNATI — JLL Capital Markets has arranged a $59 million loan for the refinancing of a three-building industrial portfolio totaling 647,717 square feet across the Chicago and Cincinnati metropolitan areas. The Midwest Industrial 3-Pack comprises two facilities in Fairfield, Ohio, and one property in Hoffman Estates, Ill. All three buildings were completed in 2023 and feature a clear height of 32 feet, LED lighting with motion sensors, ESFR sprinkler systems and concrete tilt-wall construction. The portfolio is fully leased to a mix of tenants serving the logistics, distribution, manufacturing, packaging and thermal processing industries. The Ohio properties are known as Seward Pointe Commerce Park, while the Chicago asset is known as The Ninety Logistics Center and totals 201,676 square feet. Matthew Schoenfeldt, Lucas Borges, Brian Walsh, Michael Gurwin and Christian Johnston of JLL arranged the loan on behalf of the borrower, Brennan Investment Group and Reinsurance Group of America Inc. A regional bank provided the five-year loan.
INDIANAPOLIS — Dandy, a dental technology company, has leased a newly constructed, 258,336-square-foot industrial facility at Thunderbird Commerce Center, a 185-acre, master-planned manufacturing and logistics park developed by Lauth Group in Indianapolis. Dandy is expected to take occupancy in the second quarter, and plans to make a significant investment to customize the interior of the building for its operations. The facility will serve as a primary hub for production, fulfillment and distribution. Dandy’s operations are expected to create more than 100 jobs in the next year. Other tenants at Thunderbird include Monarch Beverage and ABF Freight.
DOWNERS GROVE, ILL. — Marcus & Millichap Capital Corp. (MMCC) has secured $4 million in financing for a 19,000-square-foot office and retail property located at 5100 Main St. in Downers Grove. Dean Giannakopoulos of MMCC secured the financing with a regional lender on behalf of the private client. The loan features high leverage, flexible prepayment and a 5.95 percent interest rate. The property’s ground floor is home to Peet’s Coffee and Duly Health. There is additional office space on the building’s upper floors.
INDIANAPOLIS — David Simon, chairman, CEO and president of Indianapolis-based mall owner Simon Property Group, passed away Sunday, March 22, after a battle with cancer. He was 64 years old. Simon Property Group’s board has appointed David Simon’s son, Eli Simon, as CEO and president. Eli Simon will also continue his role as COO and director of the company. Additionally, board member Larry Glasscock has been appointed to serve as non-executive chairman. David Simon joined the company’s predecessor, Melvin Simon & Associates, as CFO in 1990. In 1993, at 31 years old, he orchestrated the company’s initial public offering on the New York Stock Exchange, raising nearly $1 billion in what was then the largest real estate public stock offering in history. Two years later, he became one of the youngest CEOs of a major publicly traded company in America. Under his leadership, Simon Property Group has delivered a cumulative total shareholder return of more than 4,500 percent since its IPO. Until recently, he also served as chairman of the Supervisory Board of Klépierre, a publicly traded, Paris-based retail real estate company, and served on the board of Apollo Global Management Inc. “David’s legacy transcends financial performance. He was a leader of …
MADISON, WIS. — Mid-America Real Estate Corp. has negotiated the sale of a newly developed Whole Foods Market net lease totaling 51,361 square feet at Madison Yards in Madison. The store serves as the anchor to the Madison Yards mixed-use development within the University Hill Farms neighborhood. The property is located less than two miles from the heart of the University of Wisconsin-Madison. Dan Rosenfeld, Andrew Lund, Nick Kohlmann and George Ghattas of Mid-America represented the seller, Summit Smith Development. The asset sold to a private buyer.
INDIANAPOLIS — CBRE has arranged the sale of Deercross, a 372-unit multifamily property in Indianapolis. Iconic Property Partners purchased the asset from an affiliate of Wilkinson Corp. for an undisclosed amount. CBRE’s Hannah Ott, George Tikijian, Cam Benz and Claire Hassfurther represented the seller. Built in 1979, Deercross has undergone significant renovations during Wilkinson’s ownership, including new windows and complete interior upgrades across all units. Amenities include a business center, basketball court, fitness center, laundry facilities, picnic areas and a dog park.
MARYSVILLE, OHIO — Colliers has brokered the sale of a 54,672-square-foot industrial facility located at 14711 Industrial Parkway in Marysville near Columbus. Delivered in 2024, the property is fully leased to seven tenants averaging 7,810 square feet. The facility features clear heights ranging from 24 to 26 feet, six dock doors, eight drive-in doors and a 120-foot truck court. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel and Jonathan Schuen of Colliers represented the seller, Pioneer Development. The buyer was a local private investor.