Thursday, May 15, 2025
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AcquisitionsMidwestMinnesotaMultifamily

Monument Capital Management Acquires 192-Unit Apartment Community in Plymouth, Minnesota

by Kristin Harlow

PLYMOUTH, MINN. — Monument Capital Management, an A-Rod Corp. company, has acquired Talus in Plymouth, just west of Minneapolis. The purchase price was undisclosed. The 192-unit apartment community was built in 1974. Floor plans range from 800 to 1,100 square feet. Amenities include a dog area, walking paths, fitness center, outdoor pool, indoor heated pool, laundry centers, underground heated parking and a newly renovated clubhouse. Monument plans to upgrade units and amenities. Ted Abramson of CBRE represented the seller, Curtis Capital Group. This property is the first acquisition for Monument’s newly launched fund, Monument Opportunity Fund V. Monument now owns or manages eight communities in the Minneapolis market totaling more than 1,000 units.

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AcquisitionsMidwestRetailWisconsin

Blue West Capital Negotiates $2.9M Sale of Retail Center in Hartford, Wisconsin

by Kristin Harlow

HARTFORD, WIS. — Blue West Capital has negotiated the $2.9 million sale of Hartford Shops in Hartford, about 37 miles northwest of downtown Milwaukee. The 12,530-square-foot retail center is fully leased and is shadow anchored by Aldi. Some of the tenants include Dunkin’, H&R Block, Shopko Optical and Papa Murphy’s. Carly Kelly and Shawn Dickmann of Blue West Capital represented the seller, a Dallas-based private real estate company. The duo also procured the buyer, a Colorado-based private investor. The property sold at 95 percent of the list price.

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AcquisitionsIllinoisMidwestRestaurantRetail

Boulder Group Brokers $2M Sale of Net Leased Restaurant Property in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — The Boulder Group has brokered the sale of a restaurant property net leased to KFC and Taco Bell in the Chicago suburb of Naperville for nearly $2 million. The 2,982-square-foot building is located along Reflection Drive. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based real estate investor completing a 1031 exchange. A Southeast-based real estate company was the seller.

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Multifamily Rent Growth Hugh Cobb Asset Living
Content PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastSoutheastTexasWestern

Asset Living: What’s Fueling Apartment Rent Growth?

by Sarah Daniels

As the commercial real estate market adjusts to how much of an effect higher interest rates will have on investment sales and property values, the rental housing sector continues to witness robust resident demand and rent growth as home ownership has become even more difficult for first-time buyers. According to a recent report by the National Multifamily Council (NMHC) and the National Apartment Association (NAA), by 2035 the U.S. needs to build 4.3 million new residential rentals to meet housing needs amid shifting demographics, the existing shortage and the loss of 4.7 million affordable units with monthly rental rates of $1,000 or less, the organizations report. “We’re just not seeing enough new apartments being built, and as a result, we’re seeing significant demand in the rental housing market,” says Hugh Cobb, a principal of Asset Living, one of the nation’s largest property managers of multifamily, affordable, student, active adult, single-family rentals and build-to-rent housing. “Because we’re seeing a decrease in demand in the single-family sales market due to higher mortgage rates, people are staying in apartments longer. And as their families grow, they’re looking for alternative rental housing, such as the build-to-rent space,” says Hugh Cobb. “Through our proprietary data …

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Market ReportsMidwestMidwest Market ReportsMissouriMultifamily

Metro St. Louis Multifamily Market Caters to Aging Population

by Kristin Harlow

By Dan Thies, Sansone Group We are more than halfway through the year and the multifamily market in the St. Louis metropolitan area continues to grow. As of the first quarter, there were 5,112 multifamily units under construction in the metropolitan area. So far, the rise in interest rates and the increase in construction costs has not dampened the enthusiasm of investors and developers for constructing new units in this market. Vacancy rates continue to stay low and lease rates continue to increase. As long as these market conditions continue, developers are going to bring new units to market. The new units being built will reflect new design features, which many developers are implementing in their communities.  One of the many design trends taking place across the country and in the St. Louis area addresses the rise in the older population becoming renters. Many members of the baby boomer generation are looking to sell their suburban homes to downsize into smaller, more practical spaces. Their children have moved out of the home, and they no longer need all the space or maintenance of a home. They want to pull the equity out of their home and place it in a …

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IndustrialLeasing ActivityMidwestWisconsin

Thrive Foods Inks 340,623 SF Industrial Lease in Oak Creek, Wisconsin

by Kristin Harlow

OAK CREEK, WIS. — Thrive Foods, a manufacturer of freeze-dried products, has signed a 340,623-square-foot industrial lease at 9141 S. 13th St. in Oak Creek, just south of Milwaukee. The newly completed building, which is a build-to-suit manufacturing facility for Thrive, features LED lighting, 40 loading docks and 50 trailer parking stalls. Stephen Provancher of Newmark represented the tenant, while John Schlueter of Frontline Commercial Real Estate represented the undisclosed landlord.

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AcquisitionsIndustrialMidwestWisconsin

Colliers Brokers Sale of 277,982 SF Industrial Portfolio in Kenosha for $33.2M

by Kristin Harlow

KENOSHA, WIS. — Colliers Wisconsin has brokered the sale of a portfolio of eight light industrial buildings totaling 277,982 square feet in Kenosha for $33.2 million. The properties, constructed in phases between 1995 and 2007, are situated within the Business Park of Kenosha. The portfolio was 97 percent leased by 43 tenants at the time of sale. Some of the tenants include Sherwin-Williams, Fastenal, First Supply and Viking Electric. Tom Shepherd and Jennifer Huber-Bullock of Colliers represented the seller, an affiliate of Zilber Ltd. An Elmhurst, Ill.-based private buyer purchased the portfolio.

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AcquisitionsIndianaMidwestRetail

JLL Arranges $14.6M Sale of Retail Center in Muncie, Indiana

by Kristin Harlow

MUNCIE, IND. — JLL Capital Markets has arranged the sale of Muncie Marketplace in Muncie for $14.6 million. Built in 2014, the 77,871-square-foot retail center is fully leased to seven national tenants, including Dick’s Sporting Goods, Michaels, Five Below, McAlister’s Deli, Kay Jewelers and GameStop. Amy Sands, Clinton Mitchell, Michael Nieder and Tim Murray of JLL represented the seller, AlbaneseCormier Holdings LLC. War Chest Real Estate LLC was the buyer.

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IllinoisIndustrialLeasing ActivityMidwest

Bulldog Cartage Signs 78,161 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — Bulldog Cartage, a storage, staging and shipping company, has signed a 78,161-square-foot industrial lease at 1549 Glenlake Ave. in Itasca. Mike Antonelli and Dan Brown of Brown Commercial Group represented the tenant. John D’Orazio and Jonathan Kohn of Colliers represented the undisclosed landlord. Earlier this year, Brown Commercial Group negotiated a 37,819-square-foot lease for Bulldog Cartage in Addison, Ill.

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LoansMidwestMultifamilyNebraska

Grandbridge Arranges $6.9M Loan for Refinancing of Nebraska Multifamily Property

by Kristin Harlow

FREMONT, NEB. — Grandbridge Real Estate Capital has arranged a $6.9 million loan for the refinancing of a 72-unit multifamily property in Fremont, about 40 miles northwest of Omaha. Brett Olson and Jeff Witt of Grandbridge arranged the permanent, fixed-rate loan. The borrower and lender were not disclosed.

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