KANSAS CITY, MO. — Berkadia has arranged the sale of Ashton Court, a 41-unit multifamily property built in 1960, and Ashton Place, a 37-unit community constructed in 1961, in Kansas City. Michael Spero, Niko Vrentas and Simon Rodewald of Berkadia represented the seller, Shawnee, Kan.-based Landmark Realty. Kansas City-based G1 Real Estate was the buyer. Additionally, the Berkadia team negotiated the sale of The Marseilles Apartments, a 28-unit property in Fairway, Kan. A private Missouri-based partnership sold the asset to Northfield, Ill.-based QMR Partners LLC. Built in 1971, the community offers a mix of studio, one- and two-bedroom units as well as a swimming pool and structured parking garage.
BROOKLYN PARK, MINN. — CBRE has negotiated the sale and acquisition financing for 610 Business Center, a 78,215-square-foot warehouse in the Minneapolis suburb of Brooklyn Park. Water Street Partners sold the asset to i3 Investors. Located at 9300 Winnetka Ave., 610 Business Center offers convenient access to I-94 via Highway 610. The facility was fully leased to Southern Graphics Systems and Twin Cities Habitat for Humanity at the time of sale. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. CBRE’s Billy Mork, Mike Vannelli and Joel Torborg arranged a fixed-rate loan with interest-only payments for the full term on behalf of the buyer.
BATAVIA, ILL. — The Boulder Group has brokered the $4.8 million sale of a single-tenant retail property occupied by Slumberland Furniture in the Chicago suburb of Batavia. The 42,676-square-foot building is located at 165 N. Randall Road. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Northeast-based real estate investor. The buyer was an investor based in the Midwest. Founded in 1967 and headquartered in Little Canada, Minn., Slumberland has grown to one of the largest furniture retailers in the Midwest with more than 120 stores in 12 states.
EDEN PRAIRIE, MINN. — Seven retail tenants are now open or coming soon at Eden Prairie Center in the Twin Cities suburb of Eden Prairie. PRVDR, now open, is located on the lower level of Center Court near Niko Niko. Totaling 1,300 square feet, the locally owned boutique is one of two locations in Minnesota that offers men’s fashion apparel, t-shirts, hoodies, hats and sneakers. Umi’s for Men, expected to open in late October, will offer men’s fashion in a 1,409-square-foot store on the upper level near Auntie Anne’s. Opening later this year, Wings Credit Union will occupy 3,800 square feet on the upper level near Target. The nonprofit institution is Minnesota’s largest credit union. Reborn Salon features a new expansion. The 2,361-square-foot salon, located on the upper level near Visionworks, is owned and operated by local stylist Bella Roberts. Phenix Salon Suites, now open, offers salon suites, development tools and education to support independent beauty professionals operating their own businesses. The 6,244-square-foot salon features 35 suites on the lower level near Gyu Mai Japanese BBQ. The location marks the sixth in Minnesota. Also now open is the U.S. Army Career Center. The 1,178-square-foot service center is located on the …
JACKSON, MICH. — The McDaniel Apartments at Andy’s Place II has opened in Jackson, about 37 miles west of Ann Arbor. The project marks a major expansion of Michigan’s first Permanent Recovery Supportive Housing initiative. The development adds 26 affordable housing units and vital recovery services to serve expectant families overcoming opioid addiction. The new phase is named in honor of Mark McDaniel, president and CEO of Cinnaire. Andy’s Place, established in 2020, was the first in Michigan to directly link long-term housing with recovery services. Andy’s Place II, now The McDaniel Apartments, focuses on keeping families together through recovery. Unlike the first phase, which primarily serves treatment court referrals, this phase is open to families applying directly. Residents will have access to peer recovery coaching; onsite behavioral health services; a resource center and community room; and outdoor gathering spaces, picnic areas and a tot lot. These features are designed to reduce relapse, prevent family separation and help residents develop the skills needed for long-term recovery and independence. The McDaniel Apartments was made possible through a collaboration among local, state and private-sector partners, including Cinnaire, Huntington Bank, Comerica, Fifth Third Bank, Michigan State Housing Development Authority and various community-based organizations. …
CHICAGO — The Chicago City Council has approved the Chicago Fire FC’s new privately funded stadium. The Major League Soccer franchise first unveiled plans for the $650 million development in June. The soccer-specific stadium will be financed by the club’s owner and chairman, Joe Mansueto. The project will anchor The 78, Related Midwest’s 62-acre development along the Chicago River just south of Roosevelt Road. Designed by Gensler, the stadium will seat approximately 22,000 fans. Construction of The 78 is expected to begin by the beginning of 2026, and the stadium is anticipated to open in 2028. “This will be the first major stadium built in Chicago in three decades,” says Dave Baldwin, Chicago Fire FC president of business operations. “Beyond Chicago Fire matches, the stadium will attract global concerts and events, creating thousands of jobs, fueling economic growth and driving new energy into the South Loop.”
CHICAGO, CLEVELAND, CINCINNATI AND COLUMBUS — Investcorp has sold a portfolio of Midwest industrial properties for $365 million. The assets total approximately 3.5 million square feet and are located within metro Chicago, Cleveland, Cincinnati and Columbus. The portfolio includes a group of 23 light industrial facilities spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland as well as an eight-building, 1 million-square-foot industrial park located three miles from the Chicago O’Hare International Airport and a 434,000-square-foot distribution facility in metro Cleveland.
MINNEAPOLIS — Oppidan Investment Co. has sold The Pillars of Prospect Park, a senior living community in Minneapolis, for $140 million, according to a recently published certificate of real estate value. Ventas, doing business as VLSHRE PILLARS LLC, was the buyer. Oppidan originally opened the community in May 2020. Situated with proximity to the University of Minnesota campus, the property features 283 units, including 133 independent living, 106 assisted living and 44 memory care units. Amenities include an onsite bistro, salon spa, chapel, fitness center, golf simulator and roof deck.
ST. CHARLES, ILL. — JLL Capital Markets has brokered the $17.3 million sale of a freestanding retail property occupied by Whole Foods in the western Chicago suburb of St. Charles. The newly renovated building features a 20-year NN lease with the tenant. The property was formerly home to Blue Goose Market, a grocer that operated at the site for nearly a century as downtown St. Charles’ only grocery store. Alex Sharrin, Mohsin Mirza and Torri Rosene of JLL represented the sellers, Swanson Development Group and Fort Union. The buyer was an affiliate of Benenson Capital Partners.
GILBERTS, ILL. — Opus has broken ground on a 52,174-square-foot build-to-suit facility for Elgin Recycling in Gilberts, about 50 miles northwest of Chicago. The project will be part of Turnberry Lakes Business Park, where Elgin Recycling’s headquarters and one its four Chicago-area recycling scrap yards are also located. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location will process recycled electronics from public drop-off facilities, breaking them down into components that will then be transported to electronics components recyclers. The Gilberts facility will feature a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus is the design-builder for the project and is working in partnership with Architects Plus Design Studio PLLC, the architect of record, and Structural Integrity Inc., the structural engineer of record. Completion is slated for January.