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Data CentersDevelopmentIndustrialLeasing ActivityMidwestOhioTop Stories

OpenAI Signs 20-Year Lease at Nvidia-Backed Data Center Development in Pike County, Ohio

by John Nelson

PIKE COUNTY, OHIO — OpenAI, the artificial intelligence (AI) platform best known for ChatGPT, has signed a 20-year lease agreement to be the customer at the PORTS-Pike Technology Campus, an AI data center redevelopment of the decommissioned Portsmouth Gaseous Diffusion Plant in Pike County, located in southern Ohio’s Appalachian region. The size and cost of the campus has not been released, but The New York Times reports that it will be among the world’s largest data centers and that the build-out could cost as much as $500 billion. SB Energy, a data center and power infrastructure company backed by Tokyo-based SoftBank Group Corp., will build, own and operate the campus. Nvidia (NASDAQ: NVDA), a hardware manufacturer of semiconductors and networking systems for AI data centers, will provide the full build-out at PORTS-Pike Technology Campus using its DSX AI factory platform — encompassing all aspects typical to an AI-ready data center, including GPUs (graphics processing units), CPUs (central processing units), servers and infrastructure software. Nvidia has secured land, power and shell (LPS) rights at the Pike County project through a partnership with SB Energy. Nvidia will immediately invest $1.5 billion in SB Energy to support the project’s build-out. SB Energy and …

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DevelopmentMidwestMixed-UseOhioRetail

Liberty Center Undergoes $20M Renovation in Suburban Cincinnati

by Kristin Harlow

LIBERTY TOWNSHIP, OHIO — Liberty Center is undergoing more than $20 million in completed, ongoing and planned investments designed to support the mixed-use destination’s next phase of growth, including future hotel and residential development opportunities. Centennial, powered by Lincoln, is serving as the asset manager for the Apollo-owned property and is leading the execution of these initiatives. Plans for the 64-acre campus in Liberty Township include tenant upgrades, first-to-market entertainment concepts, customer experience enhancements and long-term initiatives to support the property’s evolution. Development approvals for a hotel and multifamily component were recently secured. Current plans envision 300 apartment units and a full-service hotel that would complement Liberty Center’s existing mix of retail, dining, entertainment and community gathering spaces. Events by Golden Chic will introduce professionally managed meeting, conference and private event venues at the property. The partnership brings turnkey event management to Sabin Hall, a 5,200-square-foot venue, and Unity Hall, creating new opportunities for corporate meetings, conferences, weddings, nonprofit galas, private celebrations and community events. Dick’s Sporting Goods is remodeling its space with interior upgrades and experiential House of Sport-style amenities such as batting cages and golf simulators. The retailer extended its lease for 10 years. B&B Theatres is upgrading …

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DevelopmentIllinoisIndustrialMidwest

Associated Bank Provides $16.3M Loan for Construction of Warehouse in Metro Chicago

by Kristin Harlow

DOWNERS GROVE, ILL. — Associated Bank has provided a $16.3 million loan to a fund managed by High Street Logistics Properties LLC for the construction of a Class A warehouse at 3900 Finley Road in Downers Grove. The 123,927-square-foot project will feature 20 dock doors, two drive-in doors and 147 car parking spaces. The nearly 9-acre property between Butterfield and Ogden Avenues was formerly vacant. Construction is slated to commence this month with completion anticipated in June 2027. Krista Casper of Associated Bank managed the loan arrangements and closing.  

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AcquisitionsCivicDevelopmentKansasMidwest

Block & Co. Brokers Land Sale for New Wyandotte County Fire Station Near Future Kansas City Chiefs Stadium

by Kristin Harlow

KANSAS CITY, KAN. — Block & Co. Inc. Realtors has brokered the sale of 6.9 acres along North 78th Street and Riverview Avenue in Kansas City to the Unified Government of Wyandotte County. The site will be used for the development of a new fire station to serve the growing west side of Wyandotte County. The property represents one of the last remaining development sites with direct access to an I-70 interchange, according to Block. David Block and Camren Sinclair of Block & Co. arranged the sale on behalf of the undisclosed seller.

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Arranges $3.7M Sale of Industrial Property in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — SVN Chicago Industrial has arranged the $3.7 million sale of a 35,482-square-foot industrial flex property located at 28041 N. Bradley Road in Lake Forest. John Joyce and Margaret Ames of SVN represented the seller. Situated on 2.8 acres, the property features two buildings, allowing the buyer to occupy a 23,000-square-foot headquarters while generating income on a separate 12,000-square-foot building. The facility features 1 acre of paved outdoor storage, two interior loading docks and two drive-in doors. It is located less than one mile from I-294.

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AcquisitionsIllinoisIndustrialMidwest

JLL Arranges Sale of 717,475 SF Industrial Portfolio in Chicago Market

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged the sale of a 10-property light industrial portfolio totaling 717,475 square feet in Chicago’s collar counties. The assets span five municipalities in Will, DuPage and Kane counties, offering immediate access to I-80, I-55, I-88 and I-90. The portfolio comprises second-generation facilities with an average clear height of 26 feet and a mix of single-tenant and multi-tenant configurations across 22 suites. Built in 2001 on average, the properties include a combined 78 dock doors and 23 drive-in doors complemented by 1,013 car parking spaces across 41.5 acres. There are six properties in Tinley Park, two in Mokena and single assets in Naperville, Elgin and Romeoville. Currently 83.7 percent leased to 19 tenants, the portfolio features a weighted average lease term of 3.8 years. The properties range in size from 23,600 to 237,241 square feet. Office finish percentages range from 9.4 to 24.5 percent. Kurt Sarbaugh, Ed Halaburt, Trent Agnew, Sean Devaney, Ross Bratcher and Cameron Chandra of JLL represented the seller, High Street Logistics Properties. The buyer was undisclosed.

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IllinoisIndustrialLeasing ActivityMidwest

CoreCentric Solutions Signs 286,622 SF Industrial Lease in West Chicago

by Kristin Harlow

WEST CHICAGO, ILL. — CoreCentric Solutions has signed a 286,622-square-foot industrial lease at 1717 Harvester Road in West Chicago. The long-term lease brings the 465,950-square-foot manufacturing facility to full occupancy. David Conroy, Mark Wilson, Jordan Kwiecinski and Daniel Cawley of Cawley Commercial Real Estate represented the landlord, Plymouth Industrial REIT. Mike Senner of Colliers represented the tenant. The leased property offers 4,000 amps of heavy power, 15,579 square feet of office space, 14 interior docks and one drive-in doors. The lease is scheduled to commence in October.

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Negotiates $3.9M Sale of Riverwood Apartments in Mauston, Wisconsin

by Kristin Harlow

MAUSTON, WIS. — CBRE has negotiated the $3.9 million sale of Riverwood Apartments in Mauston, about 70 miles northwest of Madison. The 32-unit multifamily community was fully leased at the time of sale. The property consists of four buildings on 3.2 acres along the Lemonweir River. Built in 1994, Riverwood Apartments offers units ranging from 575 to 1,000 square feet. CBRE’s Sean Beuche, Max Colby, Matson Holbrook and Gretchen Richards represented the seller, Riverwood Apartments LLC. The buyer was Tripp & Associates.

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AcquisitionsIllinoisMidwestRetail

Boulder Group Brokers $3.8M Sale of Fifth Third Bank Ground Lease in Oswego, Illinois

by Kristin Harlow

OSWEGO, ILL. — The Boulder Group has brokered the $3.8 million sale of a single-tenant, ground-leased Fifth Third Bank property in Oswego. The 4,273-square-foot retail building is located at 2660 U.S. Highway 34. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a West Coast-based real estate firm. The buyer was a Chicago-based investment firm completing a 1031 exchange. The lease, which is structured as a ground lease with triple-net terms and zero landlord responsibilities, has approximately nine years of remaining term. Fifth Third Bank has continuously operated from this location since 2008 and signed a new 10-year lease extension in October 2025. The lease includes 10 percent rental escalations every five years. The tenant has four five-year renewal options remaining. Cincinnati-based Fifth Third Bank operates more than 1,100 full-service banking centers and over 2,000 ATMs across 11 states.

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SparrowHawk-Almanac
AcquisitionsIllinoisIndustrialKentuckyMidwestMissouriOhioTop Stories

SparrowHawk, Almanac Realty Acquire 4.4 MSF Industrial Portfolio in Midwest for Nearly $400M

by Abby Cox

HOUSTON AND NEW YORK CITY — A joint venture between SparrowHawk and New York City-based Almanac Realty Investors has acquired a 20-property, 4.4 million-square-foot industrial portfolio located across six markets in the Midwest. Stockholm-based global investment firm EQT sold the portfolio for nearly $400 million. Brian Walsh, Lucas Borges, Steve Klein, Chris Pratt, Emma Berner and Christian Johnston of JLL Capital Markets secured a five-year, $236 million acquisition loan through PPM America on behalf of the buyers. “This acquisition accelerates SparrowHawk’s strategic expansion in the Midwest with a portfolio that is integral to connecting industrial occupiers to the large consumer markets driving logistics and e-commerce growth,” says Alfredo Gutierrez, president and founder of SparrowHawk. The assets, which are spread throughout St. Louis, Cincinnati, Cleveland, Columbus, Dayton and Louisville, were 94 percent leased at the time of sale to 30 tenants across multiple industries such as logistics and distribution; business and professional services; industrial and manufacturing; e-commerce and retail; and wholesale and supply distribution. According to various media sources, 50 percent of the collection by square footage is located in St. Louis, while Cincinnati holds approximately one-fifth of the portfolio. The industrial properties feature 30-foot average clear heights, extensive dock capacity, tilt-up …

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