Sunday, July 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Midwest

AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 116,992 SF Shopping Center in Countryside, Illinois

by Kristin Harlow

COUNTRYSIDE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Salem Square in Countryside, a southwest suburb of Chicago. The sales price was undisclosed. The 116,992-square-foot shopping center is fully leased to tenants such as TJ Maxx, HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. A private real estate investment firm was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLeasing ActivityMidwestOffice

Network Services Co. Signs 40,000 SF Office Lease at Schaumburg Towers in Suburban Chicago

by Kristin Harlow

SCHAUMBURG, ILL. — Distribution company Network Services Co. has signed a 40,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. The two-building, 882,000-square-foot office property is now 78 percent leased. Since 2017, American Landmark Properties has invested more than $20 million to renovate the asset. Steve Kling and David Florent of Colliers represented the landlord in the lease. James Otto and Hank Cox of CBRE represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriRetail

Marcus & Millichap Negotiates $6.9M Sale of Retail Center in Blue Springs, Missouri

by Kristin Harlow

BLUE SPRINGS, MO. — Marcus & Millichap has negotiated the $6.9 million sale of Copperleaf Village in Blue Springs, about 19 miles southeast of downtown Kansas City. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants consist of medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.

Continue Reading
FacebookTwitterLinkedinEmail
IndianaLeasing ActivityMidwestRestaurantRetail

Tinker Coffee to Open at 360 Market Square in Downtown Indianapolis

by Kristin Harlow

INDIANAPOLIS — Tinker Coffee Co. is opening a new location at 360 Market Square in downtown Indianapolis this spring. The 360 Market Square location will be Tinker’s fourth café, but its first standalone offering that is not in the airport or a food hall. Tinker currently maintains two locations in the Indianapolis International Airport and one in the AMP food hall, an artisan marketplace and food hall located in the 16 Tech Innovation District in downtown Indianapolis. The downtown café will be open seven days a week. Flaherty & Collins is the owner and developer behind 360 Market Square, an apartment building with an attached Whole Foods Market.

Continue Reading
FacebookTwitterLinkedinEmail
KansasLoansMichiganMidwestMissouriMultifamily

Maverick Commercial Mortgage Arranges $6.9M Loan for Refinancing of Three Midwest Mobile Home Parks

by Kristin Harlow

KANSAS, MISSOURI AND MICHIGAN — Maverick Commercial Mortgage has arranged a $6.9 million loan for the refinancing of three mobile home parks in the Midwest. The properties include Green Acres in Emporia, Kan.; Maplewoods in Odessa, Mo.; and Milwood MHC in Kalamazoo, Mich. Park Place Communities owns and manages the portfolio. All three properties are slated to undergo major capital improvement projects. A Midwest debt fund provided the loan.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriRetail

GBT Realty Sells Shoppes of Mid Rivers in Suburban St. Louis for $40.7M

by Kristin Harlow

ST. PETERS, MO. — GBT Realty Corp. has sold The Shoppes of Mid Rivers in the St. Louis suburb of St. Peters for $40.7 million. The 270,000-square-foot shopping center, located at the intersection of I-70 and Mid Rivers Mall Drive, was completed in 2018. Amy Sands, Clinton Mitchell and Michael Nieder of JLL represented GBT in the sale to Jenel Real Estate. With a recent lease signing by Old Navy for 15,000 square feet, The Shoppes at Mid Rivers is 99 percent leased. Additional tenants include Burlington, Academy Sports, HomeGoods, Marshalls, Ross Dress for Less, Ulta Beauty and Five Below. Restaurant tenants include Cooper’s Hawk Winery & Restaurant, Outback Steakhouse, Pappy’s Smokehouse and Gulf Shores Restaurant & Grill.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestWisconsin

Peak Underway on Construction of Bristol Business Park’s Building 4 in Wisconsin

by Kristin Harlow

BRISTOL, WIS. — Peak Construction Corp. is underway on Building 4 within Bristol Business Park in Bristol, a city in Southeast Wisconsin. Janko Group is the developer. Peak completed construction of Buildings 2 and 3 in 2022. The industrial business park totals 225 acres and is fully entitled for up to 3 million square feet of development. So far, 2.4 million square feet is completed or under construction, of which 1.7 million square feet is leased. Constructed on a speculative basis, Building 4 will total 157,043 square feet and feature a clear height of 32 feet, 24 docks, two drive-in doors, 212 car parking spaces and a build-to-suit office space. Kelly P. Harris is the architect, Manhard Consulting is the civil engineer and Cushman & Wakefield is the leasing agent. Completion is slated for the third quarter of this year.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLoansMidwestMultifamilySeniors Housing

BWE Arranges $28.8M Loan for Refinancing of Assisted Living Community in Metro Chicago

by Kristin Harlow

CHICAGO — Bellwether Enterprise Real Estate Capital (BWE) has arranged a $28.8 million loan for the refinancing of an assisted living and memory care community in metro Chicago. The borrowers were affiliates of a seniors housing-focused private equity firm. Ryan Stoll and Taylor Mokris of BWE arranged the loan through a regional bank with a national focus on seniors housing. The four-year loan features a 30-year amortization schedule.

Continue Reading
FacebookTwitterLinkedinEmail
LoansLumentMichiganMidwestMultifamily

Lument Provides $7.7M Acquisition Loan for Detroit Apartment Community

by Kristin Harlow

DETROIT — Lument has provided a $7.7 million Fannie Mae loan for the acquisition of Central Park Apartments in Detroit. The garden-style apartment community includes 92 units. James Kelly of Lument originated the loan on behalf of the borrower, Greatwater Opportunity Capital, which owns nearly 2,000 apartment units across 40 properties. The seven-year loan features 12 months of interest-only payments, a 30-year amortization schedule and a fixed interest rate. In addition to funding the acquisition, the loan provides proceeds for improvements to common areas and amenities, parking repairs and several unit renovations.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestRestaurantRetail

Northmarq Brokers $3.1M Sale of Popeyes-Occupied Building in Grand Haven, Michigan

by Kristin Harlow

GRAND HAVEN, MICH. — Northmarq has brokered the $3.1 million sale of a newly constructed, build-to-suit property occupied by Popeyes in Grand Haven, which is situated along Lake Michigan. The building at 320 N. Beacon Blvd. is located near Walgreens, Dollar Tree, Starbucks and The Home Depot. Isaiah Harf of Northmarq represented the Illinois-based seller. A New York-based private investor acquired the asset in a 1031 exchange. Nationally, there are more than 3,700 Popeyes locations.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts