Sunday, July 20, 2025
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Midwest

DevelopmentIndustrialMidwestMinnesota

PCCP, Endeavor Begin Third Phase of Development at Arbor Lakes Business Park in Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — A joint venture between PCCP LLC and Endeavor Development has begun the third phase of development at Arbor Lakes Business Park in the Twin Cities suburb of Maple Grove. The partnership has developed two prior phases totaling four buildings and 849,138 square feet. The third phase encompasses a 197,964-square-foot industrial project on 12.5 acres. Completion is slated for 2026. The building will feature a clear height of 32 feet, 3,000 amps of power, 18 dock doors, two grade-level doors and a 120-foot truck court. Arbor Lakes Business Park is located at the intersection of I-94 and I-694.

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DevelopmentIllinoisIndustrialMidwest

Panattoni Breaks Ground on 430,141 SF Lincolnshire Industrial Center in Suburban Chicago

by Kristin Harlow

LINCOLNSHIRE, ILL. — Panattoni Development Co. has broken ground on Lincolnshire Industrial Center in South Lake County. The project will include two facilities totaling 430,141 square feet. Building 1 will span 228,459 square feet on 14 acres, while Building 2 will total 201,682 square feet on 12 acres. Both will feature a clear height of 32 feet. Brett Kroner, Eric Fischer, Keith Puritz and Marc Samuels of Cushman & Wakefield are marketing the project for lease.

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DevelopmentMidwestNebraskaRetail

$31M Sandhills Global Youth Complex Opens in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Sandhills Global Youth Complex, a $31 million youth sports complex, has opened in Lincoln. The all-turfed complex will host local, regional and national baseball and softball tournaments and is home to Nebraska Wesleyan University’s baseball and softball games. The facility will also provide local youth baseball and softball instruction and programming and will serve as the home of Homer’s Heroes, a division of Lincoln Youth Baseball for boys and girls with physical and intellectual disabilities. Sandhills Global Youth Complex is estimated to produce upwards of $15 million to $20 million in economic impact for the Lincoln community. The complex is made possible through a public-private effort that includes the City of Lincoln, Lancaster County, West Haymarket JPA and a number of private sector funders. The project is situated near the Haymarket District, Lincoln’s hotel and entertainment epicenter.

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AcquisitionsIndianaMidwestRetail

SRS Brokers $14.1M Sale of Single-Tenant Retail Portfolio in Jeffersonville, Indiana

by Kristin Harlow

JEFFERSONVILLE, IND. — SRS Real Estate Partners has brokered the $14.1 million sale of three single-tenant retail properties in Jeffersonville. All of the buildings serve as outparcels to Jeffersonville Town Center, a major community center anchored by Hobby Lobby, Burlington, Petco and TJ Maxx. The sold properties are home to Academy Sports + Outdoors, Chipotle and 7 Brew Coffee, and were built in 2022 and 2023. Michael Carter and Frank Rogers of SRS represented the seller, an Indiana-based developer, and the buyer, a California-based private investor.

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IllinoisIndustrialLeasing ActivityMidwest

Aerospace Company Signs 36,149 SF Industrial Lease in Libertyville, Illinois

by Kristin Harlow

LIBERTYVILLE, ILL. — A Fortune 100 aerospace company has signed a 36,149-square-foot industrial lease at Libertyville 45 Corporate Center in the Chicago suburb of Libertyville. The development features two buildings totaling 334,299 square feet. The project includes 4,449 square feet of speculative office space, 48 docks, a clear height of 32 feet and above-standard parking counts. Keith Puritz, Marc Samuels, Brett Kroner and Eric Fischer of Cushman & Wakefield represented ownership, Oak Brook, Ill.-based MWI Property Group. The tenant is the first to lease space at the speculative development, which was completed this year.

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LoansMidwestMultifamilyWisconsin

MMCC Secures $10.1M Loan for Refinancing of Wisconsin Multifamily Property

by Kristin Harlow

EAU CLAIRE, WIS. — Marcus & Millichap Capital Corp. (MMCC) has secured a $10.1 million loan for the refinancing of Alto Station Apartments in Eau Claire within western Wisconsin. The newly built apartment community is pre-leasing now and is slated to open in 2026, according to the property’s website. The 88-unit building is located at 325 Main St. and features a mix of studio to two-bedroom floor plans. Amenities include a fitness center, clubhouse, rooftop terrace and bike storage. Robert Bhat of MMCC arranged the loan with a local credit union on behalf of the private buyer. The loan features an interest rate of 6.75 percent and a 75 percent loan-to-cost ratio.

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Leasing ActivityMidwestMinnesotaRetail

Transwestern Negotiates 66,100 SF Retail Lease in Burnsville, Minnesota

by Kristin Harlow

BURNSVILLE, MINN. — Transwestern Real Estate Services has negotiated a 66,100-square-foot retail lease at Aurora Village shopping center in the southern Minneapolis suburb of Burnsville. The tenant is Soar N Bounce Trampoline and Adventure Park, which currently maintains locations in Michigan and Pennsylvania. The company plans to open 12 additional locations, including the site in Burnsville, which is slated to open in the first quarter in 2026. Brad Kaplan and Molly Townsend of Transwestern represented the owner, Aurora Investments LLC. Brian Weld and Tom Martin of Cushman & Wakefield represented the tenant. The lease marks the largest deal by square footage in the trade area since 2018, according to Transwestern. Aurora Village totals 122,323 square feet.

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AcquisitionsMidwestOhioRetail

Cooper Group Arranges $4.5M Sale of Charles Schwab-Occupied Retail Property Near Cleveland

by Kristin Harlow

COPLEY, OHIO — The Cooper Commercial Investment Group has arranged the $4.5 million sale of a single-tenant, newly built retail property occupied by Charles Schwab in Copley, a southern suburb of Cleveland. The banking office was built in 2023. There are approximately 13.5 years remaining on the lease with multiple rental increases and options to extend. Dan Cooper of Cooper Group represented the seller, a private investment group based in Ohio. The sales price represented a cap rate of 5.99 percent and $897 per square foot. The all-cash transaction closed in approximately 30 days.

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AcquisitionsMidwestNebraskaRetail

Marcus & Millichap Brokers $2.4M Sale of Retail Strip Center in Omaha

by Kristin Harlow

OMAHA, NEB. — Marcus & Millichap has brokered the $2.4 million sale of Stonegate Plaza, a five-suite retail strip center in Omaha. The 13,648-square-foot, fully leased center is anchored by Sherwin-Williams, which has been a tenant for more than 20 years. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller, a North Dakota-based investment group. A local investor was the buyer.

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Leasing ActivityMidwestRetailWisconsin

FedEx Renews 1,925 SF Retail Lease in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — FedEx has renewed its 1,925-square-foot retail lease at Shoppers World of Brookfield in the Milwaukee suburb of Brookfield. Last Mile Investments (LMI) owns the property, which is home to tenants such as Great Clips, Potbelly, AT&T, Aspen Dental and the upcoming Tropical Smoothie Café. Ryan Toppel of FedEx Real Estate represented FedEx, while Tyler Murphy and Sean Quinn represented LMI on an internal basis.

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