Midwest

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

by Kristin Harlow April 29, 2025

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.

April 29, 2025

Leasing Activity Midwest Minnesota Retail

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

by Kristin Harlow April 29, 2025

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.

April 29, 2025

Acquisitions Midwest Ohio Retail

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

by Kristin Harlow April 29, 2025

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.

April 29, 2025

Acquisitions Midwest Nebraska Retail

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

by Kristin Harlow April 29, 2025

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.

April 29, 2025

Leasing Activity Midwest Retail Wisconsin

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

by Kristin Harlow April 29, 2025

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.

April 29, 2025

Content Partner Development Features Industrial Leasing Activity Lee & Associates Midwest Multifamily Northeast Office Retail Southeast Texas Uncategorized Western

Lee & Associates: Tariffs Add to Q1 Industrial Challenges; All Sectors See Constrained Development

by Sarah Daniels April 29, 2025

The end of the first quarter of 2025 saw market uncertainty in the face of new U.S. trade and tariff policies combined with an unclear geopolitical outlook, according to Lee & Associates’ 2025 Q1 North America Market Report. The effect of these concerns within the commercial real estate world are most evident in the industrial sector, which is also contending with oversupply and softening rent growth. Development is slow across property types. Retail, despite high-profile store closures in early 2025, remains historically tight on space as years of underbuilding keep availabilities near record lows. Office demand has stabilized in several major metros following years of contraction, though vacancy remains elevated. The pipeline of new construction is both drying up and favoring new types of tenants beyond traditional office spaces. Multifamily is seeing strong tenant demand in certain markets despite a flood of new deliveries. Lee & Associates has made their full market report available here (click through for detailed breakdowns and city-by-city information). The information below for the industrial, office, retail and multifamily sectors offers clarity on market-wide demand, rent growth trends and challenges likely to shape trajectories throughout 2025. Industrial Overview: Soft Markets Face Tariff Disruptions North America’s industrial markets …

April 29, 2025

Loans Midwest Multifamily Ohio

Affinius Capital Provides $73.4M Construction Loan for Multifamily Property in Columbus

by Kristin Harlow April 28, 2025

COLUMBUS, OHIO — Affinius Capital LLC has provided a $73.4 million loan to finance the ground-up development of Rockpointe at Quarry Trails, an eight-building multifamily property in Columbus with 486 garden-style units. Thrive Cos. is the developer. The project marks the fourth phase of the Quarry Trails mixed-use development, which is owned by Thrive. Affinius Capital previously provided a bridge loan for the first phase. Amenities at Rockpointe will include a community kitchen, gaming areas, coworking facilities, a pool and cabanas. The 85-acre Quarry Trails will include 1,045 apartment units, 600 for-sale homes, 28,000 square feet of Class A office space and 30,000 square feet of retail and restaurant space. Residents will have access to kayaking, rock climbing and mountain biking, as the development is located within a natural, unmanicured 220-acre metro park. Chad Kiner, Conor Lee, Grant Proegler and Brody Hoying of BWE arranged the financing.

April 28, 2025

Acquisitions Midwest Multifamily Ohio Student Housing

JLL Brokers Sale of 756-Bed Student Housing Community at Miami University in Ohio

by Kristin Harlow April 28, 2025

OXFORD, OHIO — JLL Capital Markets has brokered the sale of Level 27, a 756-bed student housing community serving Miami University in Oxford. Built in 2006, the 216-unit property features a mix of three- and four-bedroom floor plans with an average unit size of 1,603 square feet. Amenities include a fitness center, private movie theater, gaming lounge, outdoor sports courts and clubhouse with study rooms. Teddy Leatherman, Scott Clifton, Kevin Kazlow, Jack Goldberger and Grace Picchiotti of JLL represented the undisclosed seller. Buyer information was also not provided.

April 28, 2025

Loans Midwest Multifamily Wisconsin

MMCC Arranges $10.4M Loan for Refinancing of Apartment Complex in Appleton, Wisconsin

by Kristin Harlow April 28, 2025

APPLETON, WIS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.4 million loan for the refinancing of Urbane115 Apartments, a 46-unit apartment complex in Appleton. The newly built property, located adjacent to Fox Commons, features a mix of studio to two-bedroom units. Robert Bhat of MMCC arranged agency financing on behalf of the private borrower. The five-year, nonrecourse loan features a 65 percent loan-to-value ratio and an interest rate of 6.1 percent.

April 28, 2025

Acquisitions Midwest Multifamily Wisconsin

Greenstone Partners Negotiates Sale of 56-Unit Multifamily Property in Suburban Milwaukee

by Kristin Harlow April 28, 2025

BROOKFIELD, WIS. — Greenstone Partners has negotiated the sale of PrairieWalk, a 56-unit multifamily property in the Milwaukee suburb of Brookfield, for an undisclosed price. Mandel Group Inc. developed the asset, which was built in 2015. The two-building property features one- and two-bedroom units. Amenities include community rooms, outdoor grills and pet stations. Jordan Multack of Greenstone represented the buyer, Breneman Capital, and the seller, Mandel Group.

April 28, 2025

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