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AcquisitionsIndianaMidwestMultifamily

CBRE Arranges Sale of 372-Unit Multifamily Community in Indianapolis

by Kristin Harlow

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.

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AcquisitionsIndustrialMidwestOhio

Colliers Brokers Sale of 54,672 SF Industrial Facility in Marysville, Ohio

by Kristin Harlow

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.

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LoansMidwestMultifamilyOhioSeniors Housing

Greystone Provides $46M Refinancing for Seniors Housing Portfolio in Ohio

by Kristin Harlow

OHIO — Greystone has provided a $46 million bridge-to-HUD loan for the refinancing of a two-property seniors housing portfolio in Ohio. Christopher Clare, David Young, Ben Rubin, Ryan Harkins, Parker Nielsen and Liam Gallagher of Greystone originated the financing. The portfolio includes 118 skilled nursing units, 16 memory care units, 232 assisted living units and 10 independent living units. The bridge loan enables the borrower to refinance the properties and position the assets for long-term, HUD-insured permanent financing.

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AcquisitionsIndustrialMidwestMinnesota

Terrace Group, Midloch Investment Partners Buy 270,022 SF Industrial Business Park Near Minneapolis

by Kristin Harlow

FRIDLEY, MINN. — The Terrace Group has acquired River Tech Workplace in the Minneapolis suburb of Fridley. Midloch Investment Partners is the equity partner in the acquisition. The four-building flex industrial park totals 270,022 square feet and is situated on nearly 20 acres. Constructed in 1987, River Tech Workplace features a mix of spaces designed to accommodate tenants such as light industrial, service, technology and medical users. Bentley Smith of CBRE represented the undisclosed seller.

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AcquisitionsMidwestMinnesotaNorth DakotaRetailSouth Dakota

Marcus & Millichap Brokers $18.7M Sale of Sherwin-Williams Retail Portfolio Across Three States

by Kristin Harlow

MINNESOTA, NORTH DAKOTA AND SOUTH DAKOTA — Marcus & Millichap has arranged the $18.7 million sale of an 11-property Sherwin-Williams retail portfolio in Minnesota, North Dakota and South Dakota. Dominic Sulo and Jon Ruzicka of Marcus & Millichap represented the Minnesota-based private seller and procured the Michigan-based institutional buyer. The properties are located in Bemidji, Duluth, Fergus Falls, Grand Rapids, Sartell, Minn.; Bismarck and Grand Forks, N.D.; and Sioux Falls, Tea and Watertown, S.D. They total approximately 55,590 rentable square feet. Prior to marketing efforts, Marcus & Millichap assisted the seller in securing 15-year lease extensions across the entire portfolio.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 162-Unit Luxury Apartment Complex in St. Paul

by Kristin Harlow

ST. PAUL, MINN. — JLL Capital Markets has brokered the sale of The Hill Apartments, a 162-unit luxury apartment building in St. Paul’s historic Cathedral Hill neighborhood. Josh Talberg, Joseph Peris and Eli Smith of JLL represented the seller, Wolverton Capital. The Hill is the only modern apartment community at scale delivered to the neighborhood, according to JLL.

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IllinoisIndustrialLeasing ActivityMidwest

Opus Completes Lease-Up of 408,176 SF Industrial Building in North Aurora, Illinois

by Kristin Harlow

NORTH AURORA, ILL. — Opus has completed the lease-up of Building C at Tollway Corporate Center in North Aurora. US Elogistics Service Corp. (CIRRO Fulfillment | Global Fulfillment Solution) has leased the entire building. With this commitment, the three-building, 1.1 million-square-foot speculative development is now fully leased. The tenant, a global e-commerce logistics and fulfillment provider, took occupancy late last month. Developed and built by Opus in a joint venture with Principal Asset Management, Tollway Corporate Center was delivered in phases. The first two buildings were preleased prior to their completion in December 2022. Soligent Distribution and Karat Packaging occupy Building A, while Ryder Integrated Logistics occupies Building B. Building C, which was completed in December 2023, features a clear height of 36 feet, 55 dock doors, four drive-in doors, trailer parking and a 3,000-square-fot speculative office. Opus served as developer, design-builder and architect. Brian Kling and Reed Adler of Colliers, along with Dan Leahy and Packy Doyle of NAI Hiffman, marketed and leased the development.

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DevelopmentIndianaMidwestRetail

Nicholas Family of Cos. to Develop Westfield Ice Facility in Metro Indianapolis

by Kristin Harlow

WESTFIELD, IND. — The Nicholas Family of Cos. will develop, build and operate Westfield Ice Facility, a new multi-sheet indoor ice facility in the northern Indianapolis suburb of Westfield. The project will serve as a catalyst for further growth of the Grand Park District, a mixed-use development near the Grand Sports Campus, a major youth sports destination. Westfield Ice Facility will feature three NHL-sized stadium-style rinks, with a potential fourth rink for future expansion. Tiered seating will host up to 3,500 spectators. The project will also include a full-service restaurant, retail spaces, an academic lounge and outdoor activity areas. Westfield Ice Facility marks the fourth indoor ice arena to be developed or acquired by Nicholas in the past two years and its first outside the Chicago area. The firm’s Nicholas & Associates division will serve as general contractor for the Westfield project. Its Spectate Group will manage and program the facility, and its Big Fish Hospitality Group will oversee food-and-beverage offerings. The property is expected to open in 2028.  

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AcquisitionsDevelopmentIndustrialMidwestWisconsin

Zilber Acquires 97 Acres in Wisconsin’s LakeView Corporate Park

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Zilber Property Group has acquired approximately 97 acres spanning four parcels within LakeView Corporate Park in Pleasant Prairie. The land sites are capable of accommodating five projects totaling roughly 875,000 square feet. The parcels are some of the last remaining available M-2 zoned (manufacturing and distribution) undeveloped lots within the park. Zilber says it plans to pursue phased development to meet continued demand from manufacturing, distribution and e-commerce users seeking modern, flexible industrial space in Southeast Wisconsin. LakeView Corporate Park, the largest industrial park in Wisconsin, is located directly off I-94 at Highway 165 and spans more than 2,000 acres. The park encompasses more than 10 million square feet of development and is home to nearly 100 companies. Amenities include a recreation center, public lake and park, dedicated nature conservancy, onsite daycare facility and a trail system. The Forest County Potawatomi Community sold the land.

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