Tuesday, September 9, 2025
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Midwest

AcquisitionsIndianaIndustrialMidwest

MDH Partners Acquires 162,228 SF Industrial Building in Noblesville, Indiana

by Kristin Harlow

NOBLESVILLE, IND. — MDH Partners has acquired Washington Business Park 1, a 162,228-square-foot industrial building in the Indianapolis suburb of Noblesville. The purchase price was undisclosed. The property, which is 85 percent leased to four tenants, is situated within the 142-acre Washington Business Park. The building was constructed earlier this year. Houston Hawley served as the acquisition lead for Atlanta-based MDH. Bryan Poynter of Cushman & Wakefield represented MDH, while Ryan Baker of Cushman & Wakefield represented the undisclosed seller. The purchase of Washington Business Park 1 increases MDH’s Indiana footprint to more than 1.1 million square feet.

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Leasing ActivityMidwestOfficeWisconsin

US Bureau of Land Management Signs 8,797 SF Office Lease in Milwaukee

by Kristin Harlow

MILWAUKEE — The U.S. Department of the Interior’s Bureau of Land Management (BLM) has signed a 15-year lease for 8,797 square feet on the 11th floor of Two-Fifty, an office tower in Milwaukee. The property rises 20 stories and spans 200,000 square feet at 250 E. Wisconsin Ave. within the city’s central business district. The BLM is responsible for sustaining the health, diversity and productivity of public lands. Ned Purtell and John Davis of Founders 3 Real Estate Services represented the landlord, Buffalo Grove, Ill.-based Millbrook Real Estate Co. Since purchasing Two-Fifty in 2015, Millbrook has invested more than $8.5 million in improvements, including a new tenant lounge, conference center and lobby renovation. The building is currently home to tenants such as HNTB, Associated Bank and the Milwaukee Bar Association.

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AcquisitionsIllinoisMidwestMultifamily

Interra Brokers $8.2M Sale of Multifamily Property in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a 51-unit multifamily property in Chicago’s Lincoln Park neighborhood for $8.2 million. Located at 2718 N. Hampden Court, the building consists of one-bedroom units. Craig Martin of Interra represented the seller, the Manilow family. Martin also represented the buyers, investors Gabe Horstick and Edwin Vdovets, who plan to renovate the property.

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Leasing ActivityMichiganMidwestRetail

Millennial Collection to Open 1,600 SF Store in Sterling Heights, Michigan

by Kristin Harlow

STERLING HEIGHTS, MICH. — Millennial Collection, a trading card and gaming store, has signed a lease for 1,600 square feet at Brookside Shopping Center in Sterling Heights. The tenant will occupy space formerly home to an arcade. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed landlord in the lease.

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AcquisitionsAffordable HousingIndianaMidwestMultifamily

Revitate Cherry Tree Acquires Two Workforce Housing Communities in Indiana for $44.5M

by Kristin Harlow

ELKHART AND JEFFERSONVILLE, IND. — Revitate Cherry Tree (RevCT) has acquired two workforce housing communities in Indiana for $44.5 million. Built in 1970, Walnut Trails is a 210-unit, garden-style community in Elkhart. Constructed in 1972, Beech Grove is a 182-unit community in Jeffersonville. RevCT says the acquisition of these two properties advances the firm’s overall strategy of preserving and enhancing workforce housing opportunities for families across the Midwest. Both of these properties cater to working-class residents such as those employed by local governments or in industries like healthcare, manufacturing, logistics and education. Workforce housing is defined as housing affordable to households earning between 60 and 120 percent of area median income.

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IndustrialMidwestMinnesota

CBRE Arranges JV Partnership for 627,980 SF Industrial Portfolio in Metro Minneapolis

by Kristin Harlow

MINNEAPOLIS — CBRE has arranged a joint venture partnership between Capital Partners and Eagle Realty Group on a five-building industrial portfolio totaling 627,980 square feet in metro Minneapolis. Two of the newly constructed buildings are fully occupied, while the remaining three are still under construction. Judd Welliver and Bentley Smith of CBRE arranged the partnership on behalf of their client, Minneapolis-based Capital Partners. There is potential for a second phase of the partnership with an additional 550,000 square feet of development.

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AcquisitionsIllinoisMidwest

MB Real Estate Negotiates Sale of Historic Building in Chicago’s Uptown Neighborhood

by Kristin Harlow

CHICAGO — MB Real Estate (MBRE) has negotiated the sale of Preston Bradley Center in Chicago’s Uptown neighborhood for an undisclosed price. The building at 941 W. Lawrence Ave. has been listed on the National Register of Historic Places since 2000 and has served as the home of the Peoples Church of Chicago since construction was completed in 1926. The 50,000-square-foot building features a 1,300-seat auditorium, offices and community space. David Kimball and Jay Beadle of MBRE represented the seller, the Peoples Church of Chicago. James Hodur and Ben Miotti of Coldwell Banker Commercial NRT represented the buyer, real estate investor Steven Ivankovich and his brother Dr. Dan Ivankovich. The buyer plans to restore the property while maintaining its original use and character. The Peoples Church of Chicago will maintain offices within the building and continue worshipping at the property on a long-term basis.

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IllinoisIndustrialLeasing ActivityMidwest

Luxe Weavers Signs 28,436 SF Industrial Lease in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Rug company Luxe Weavers has signed a 28,436-square-foot industrial lease at Park 355 in the Chicago suburb of Woodridge. The building, which is located at 2145 Internationale Parkway, is now fully leased. Reinier Pranger and Joshua Hearne of Cawley Chicago represented the tenant. Sean Henrick, Jason West and Ryan Klink of Cushman & Wakefield represented the undisclosed landlord.

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AcquisitionsIndustrialMidwestSelf-StorageWisconsin

Marcus & Millichap Brokers Sale of 24,480 SF Self-Storage Facility in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — Marcus & Millichap has brokered the sale of Safe Storage Club, a 24,480-square-foot self-storage facility in Kenosha. The sales price was undisclosed. The property features 348 parking spaces. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap represented the seller, a limited liability company. The team also secured and represented the buyer, an individual trust. The sale closed above list price.

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DevelopmentIllinoisMidwestMixed-UseMultifamilyRestaurantRetailSeniors HousingTop Stories

Centennial Expands Redevelopment Plans for Hawthorn Mall in Vernon Hills, Illinois

by Jeff Shaw

VERNON HILLS, ILL. – Dallas-based real estate firm Centennial has revealed plans to expand on its Hawthorn 2.0 redevelopment of Hawthorn Mall, a super-regional shopping center in Vernon Hills, a northern suburb of Chicago. Built in 1973, the mall currently houses over 120 retailers. Centennial first announced the redevelopment of Hawthorn Mall in 2019, which included new retail and dining options, luxury multifamily housing and indoor/outdoor gathering spaces. The expanded plans nearly triple the new development at the property and include 162 units of seniors housing, a 25,000-square-foot grocery store and 109,000 square feet of open-air retail. The center started its redevelopment with the 2020 unveiling of Center Park, a 15,190 square-foot outdoor space in the mall’s former Center Court. Center Park features both lawn games and soft furnishings. The expanded plan calls for the relocation of 250 apartments to create a larger outdoor public plaza to increase pedestrian access to the mall and a new main entrance for the shopping center. Hawthorn 2.0 will also create more retail, restaurant and entertainment space surrounding the exterior of the Hawthorn Row integrated streetscape. “The expansion of our Hawthorn 2.0 plans enhances the original vision we had for the center as a …

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