Midwest

GROSSE POINTE, MICH. — NAI Farbman, the brokerage arm of Farbman Group, has negotiated a 4,500-square-foot restaurant lease for Culver’s at 18845 Mack Ave. in Grosse Pointe, about 12 miles northeast of Detroit. The lease marks the first Culver’s location in the market. Originally constructed as a bank in 1949, the property was transformed into a dining destination. The locally owned and operated restaurant, which opened Dec. 15, features menu items such as ButterBurgers and frozen custard offerings. Harrison Yaldoo represented Culver’s and the landlord in the lease. Culver’s was founded in Wisconsin in 1984.

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INDIANAPOLIS — Red Oak Capital Holdings LLC has provided a $2.8 million bridge loan to support the acquisition and repositioning of Linn Apartments, a 43-unit multifamily property on the Near South Side of Indianapolis. The interest-only loan, structured under Red Oak’s Opportunistic Bridge Loan Program, features an 18-month initial term and a loan-to-stabilized value of 55.7 percent. Stratos Athanassiades of Red Oak originated the loan, with underwriting led by Thomas Gorski and administration by James Myatt. The repeat borrower is an experienced investor in the Indianapolis market. Through its affiliated company, Midwest Living Management, the borrower oversees more than 7725 units and commercial assets throughout metro Indianapolis. Linn Apartments contains 43 units across three two-story buildings. Built in 1963, the Class C property was approximately 65 percent occupied at the time of the loan closing. The buyer plans to begin renovations immediately upon acquisition. Upon stabilization, the buyer plans to refinance into agency debt.

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DOWNERS GROVE, ILL. — Ann & Robert H. Lurie Children’s Hospital of Chicago has begun plans to develop a low-acuity pediatric hospital in Downers Grove, a western suburb of Chicago. The proposed hospital will include a pediatric emergency department, surgery sites, inpatient beds and pediatric subspecialties such as oncology, cardiology, gastroenterology and orthopedics. The new facility would be Lurie Children’s first inpatient hospital outside its main location in Chicago’s Streeterville neighborhood. Lurie Children’s says the Downers Grove hospital represents a key component of its strategic growth initiatives, reflecting the organization’s evolution from a single hospital into an integrated pediatric healthcare system. The announcement comes on the heels of Lurie Children’s opening a new outpatient center in Schaumburg in 2025. In addition to its flagship hospital in Chicago, Lurie Children’s offers care through more than 20 outpatient centers and 10 partner hospitals across Chicagoland. A design-build team led by Clayco will also include healthcare design and construction expertise from Skender, ZGF and LJC. The project is subject to regulatory approvals.

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KANKAKEE, ILL. — An affiliate of Phoenix Investors has acquired a 670,000-square-foot, heavy power industrial facility in Kankakee. The rail-served property is positioned near I-57. Formerly home to the Heinz Pet Food manufacturing and distribution facility, the property features approximately 43 megawatts of power, clear heights up to 87 feet, 41 dock doors, seven drive-in doors and an active Norfolk Southern rail spur. The fully fenced site includes a guard shack, extensive trailer and automobile parking and the ability to be demised to accommodate multiple users or a single large-format tenant. Phoenix plans to undertake a series of capital improvements to reposition the property and enhance its functionality for modern industrial users. Planned improvements include white-boxing select areas, general site and exterior upgrades, the installation of high-efficiency LED lighting and the addition of new dock doors to further improve loading capacity and operational flow.

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ROUND LAKE BEACH, ILL. AND MICHIGAN CITY, IND. — Mid-America Real Estate Corp. has brokered the sales of two former Transformco retail properties in Round Lake Beach and Michgian City. The asset at 400 E. Rollins Road in Round Lake Beach, formerly a Super Kmart totaling 190,174 square feet, sold to Target Stores. A former Sears and Sears Auto Center complex that was part of Marquette Mall in Michigan City totaling 92,905 square feet and 12,365 square feet, respectively, sold to Tonn and Blank Construction LLC. Andy Bulson, Mike Phillips, Dick Spinell and Mike Fitzgerald of Mid-America represented Transformco in both transactions.

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LAKE GENEVA, WIS. — Marcus & Millichap has arranged the $4.9 million sale of a 30,162-square-foot retail building net leased to Best Buy in Lake Geneva, about 50 miles southwest of Milwaukee. Best Buy has occupied the property, which is part of a retail strip center shadow anchored by Target, since it was built in 2008. Jeff Rowlett and Eric Wagner of Marcus & Millichap represented the seller, BB Geneva LLC, and procured the buyer, Agree Central LLC.

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By Graham Smith, Multistudio A national shift is underway, and it starts with how cities listen. Across the country, communities and development teams are rethinking how reinvestment happens in legacy neighborhoods shaped by deep cultural identity but burdened by decades of underinvestment. These districts often hold irreplaceable history, yet for years they were sidelined by capital markets that prioritized scale, speed and uniformity over context and continuity. Historically, redevelopment in these areas followed a familiar pattern: projects designed first and explained later. Too often, that sequence displaced cultural institutions, local businesses and social networks that gave neighborhoods their meaning. Today, rising expectations around equitable development and renewed interest in urban cores are forcing a different calculus. Community engagement is no longer a step at the end of a project. It is a strategic input that shapes outcomes, reduces risk and strengthens long-term value. Intentional reinvestment Kansas City offers a timely example of how intentional process can align with market opportunity. After years of downtown population growth, expanded transit infrastructure and rising global visibility ahead of the 2026 FIFA World Cup, long deferred reinvestment became feasible. Local leaders recognized that this momentum created an opportunity to reinvest in the historic 18th …

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John-Deere_Kernersville-N.C

HEBRON, IND. AND KERNERSVILLE, N.C. — Agricultural and construction machinery company John Deere (NYSE: DE) plans to open two new industrial facilities in the United States. The developments include a distribution center near Hebron, Ind., and a manufacturing campus in Kernersville, N.C.  John Deere recently broke ground on the 234-acre Indiana facility, which is designed to streamline operations and ensure timely delivery of equipment and parts. John Deere plans to invest $125 million to equip and development the 1.2 million-square-foot project, which is situated just off I-65. According to the company, the project is expected to create roughly 150 jobs in the state. John Deere also operates its primary North American parts distribution center in the Midwest region in Milan, Ill. That facility has been in operation since 1973 and employs roughly 1,200 people.  In Kernersville, a new $70 million manufacturing center will produce excavators for the construction market, assuming production activity that was previously conducted in Japan. The campus total approximately 400,000 square feet and will employ more than 150 people.  “We are excited to bring this new facility to our Kernersville campus and to be part of the region’s thriving manufacturing community,” said Ryan Campbell, president of worldwide …

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PLEASANT PRAIRIE, WIS. — The Barry Co. has brokered the sale of the former warehouse and retail facility for Jelly Belly in Pleasant Prairie. The candy company closed its operations at the property in 2020. The facility is now occupied by Rust-Oleum and SMT Packaging, tenants that were procured by Barry Co. after Jelly Belly moved. Kevin Barry and David Buckley of Barry Co. represented the undisclosed seller. The buyer was 9th and Main LLC.

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MANKATO, MINN. — Kraus-Anderson has completed a new public works facility for Blue Earth County on a 40-acre greenfield site in Mankato, a city in southern Minnesota. Designed by ISG Architects, the $29.8 million facility features an 89,363-square-foot main building with office space, an exercise room, shop areas, locker rooms, garage parking, three overhead cranes and a multipurpose room for county and public use. The project also includes a 30,000-square-foot vehicle storage building, an 1,100-square-foot fuel island and a 14,000-square-foot salt and sand storage building with a 90,000-gallon water tank to supplement the fire suppression system for the campus. Construction began in October 2024.

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