MINNEAPOLIS — Tenants have signed leases totaling nearly 60,000 square feet at LaSalle Plaza, an office tower in downtown Minneapolis. Owner Hempel Real Estate has completed $10 million of improvements and upgrades in the last 18 months. The largest new lease is with Greiner Construction, which will move from Deluxe Plaza into 20,000 square feet on the second floor of LaSalle Plaza. In addition, Interstate Parking is moving into 6,300 square feet from Canadian Pacific. Relx, a data and information consulting company, leased 5,100 square feet; and Gems, a Target vendor, is moving into a 1,700-square-foot spec suite. Additionally, four existing tenants renewed their leases. These include Centerspace (7,000 square feet), Hershey (10,000 square feet), Henkel (6,000 square feet) and PACE Loan Group. PACE moved into LaSalle Plaza in 2024 and expanded its lease by nearly 3,000 square feet, now occupying 6,500 square feet. Totaling 650,000 square feet, LaSalle Plaza offers an amenity package called The LaSalle Club, which includes an exclusive tenant lounge on the fourth floor and a fitness center with a sauna, cold plunge, fitness studio and pickleball court. The property also features a Grey Fox coffee shop; two fast-casual restaurants, Green and the Grain and Bep; …
MENDOTA HEIGHTS, MINN. — Opus has completed the STA/Vis Michel Family Aquatic Center in the Minneapolis suburb of Mendota Heights. The $12 million facility on the campus of Saint Thomas Academy is home to the swim and dive teams of both Saint Thomas Academy and Visitation School, which collectively have more than 40 state swim and dive championships. Chip Michel is co-chair of the capital campaign for the facility and title donor, along with his wife Mary. The Michels contributed $6 million toward the project, representing the largest gift in the history of both schools. The aquatic center received more than 1,000 donors. New Jersey-based Fabiano Designs designed the project, which involved the demolition of the previous pool in April 2024. The new 17,000-square-foot facility includes a 25-yard short course with competition pool with eight lanes, a diving board, bleacher seating for 350, an observation deck, exposed wood ceiling and new locker rooms. The center will also serve local swim clubs and Catholic Athletic Association schools. During the school day, the pool will be used for curriculum-based initiatives.
MERRIAM, KAN. — Block & Co. Inc. Realtors has sold a Chipotle-occupied restaurant property and a Shell convenience store building in Merriam, a southwest suburb of Kansas City. The assets are located on the northeast quadrant of I-35 and Shawnee Mission Parkway. The two buildings were both managed and sold by a Block & Co.-headed investment group to a buyer affiliated with Drake Development to be part of a larger redevelopment project on the north side of Shawnee Mission Parkway. David Block represented the seller.
HARTLAND, MICH. — Lockwood Cos. has opened Lockwood of Hartland, a 146-unit senior living community in Hartland, about 50 miles northwest of Detroit. The $46 million project offers one- and two-bedroom independent living apartments, all with private patios or balconies. Sixty-one of the units are designated as affordable housing. The property is situated on 17 wooded acres with nature trails. Amenities include chef-prepared meals, a fitness room, life enrichment programs, a barber shop, beauty salon and theater.
SOUTHFIELD, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage have completed a 77,600-square-foot self-storage facility in the Detroit suburb of Southfield. The project involved the conversion of an office building into a four-story, climate-controlled self-storage facility with 767 units, a 24-hour security system and covered loading area. The property is located at 24700 Northwestern Highway near I-696. Devon is a member of The Inland Real Estate Group of Cos. Inc.
WHEELING, ILL. — Marcus & Millichap has brokered the $17.4 million sale of a 96,712-square-foot industrial building in the Chicago suburb of Wheeling. The property is situated on 9.5 acres at 199 Shepard Ave. Anchor tenants include JV Global Services, Ready Set Gourmet, GFS Transport and Aargus Plastics. The asset features cold storage, industrial outdoor storage, rail access and proximity to I-294 and the Chicago O’Hare International Airport. The sale includes a partial leaseback with JV Global Services and a pending 14,796-square-foot, build-to-suit cold storage facility for Ready Set Gourmet. Zach Orzel, Adam Abushgur and Tyler Sharp of Marcus & Millichap represented the seller, JV Global Services LLC. Sharp, Abushagur and Clayton Isacson procured the buyer, Prairie Hill Holdings. Frank Montalto and Ethan Splan of IPA Capital Markets, a division of Marcus & Millichap, arranged $11.4 million in financing. The five-year loan features a 65 percent loan-to-value ratio and 12 months of interest-only payments at 6.4 percent followed by a 25-year amortization period.
KANSAS CITY, MO. — Gantry has arranged an $11.5 million loan for the acquisition of The Life at Highland Village multifamily property in Kansas City’s Lewis Heights neighborhood. The 200-unit garden-style community includes 11 buildings with a mix of one- and two-bedroom floor plans. Most units feature recent appliance upgrades and new finishes. Amenities include a grass-covered open space, pool, playground and dog park. Mark Reichter and Alex Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. An insurance company lender provided the three-year, fixed-rate loan, which features an upfront interest-only period followed by a 30-year amortization.
KANSAS CITY, MO. — Guadalupe Centers Inc. (GCI) has opened Villa View Apartments, an affordable housing community designed for teachers and local families in Kansas City. Situated on the southeast corner of GCI’s Villa Guadalupe school campus at 1616 Hardesty Ave., the four-story development features 50 units, 42 of which are designated as affordable housing for households earning up to 60 percent of the area median income. The remaining apartments are offered at market rates. Community amenities include a business center, community room, courtyard, rooftop patio and picnic areas. Built in compliance with Enterprise Green Communities and the 2021 International Energy Conservation Code, the property is energy efficient and fully electric. Residents will benefit from services provided free of charge by GCI. These include youth education, after-school programs, financial literacy, tax preparation, health screening, cultural community events, mental health counseling, job training and food pantries. GCI partnered with Riverstone Platform Partners as co-developers. The project team included Altman-Charter Co. as general contractor, SLATTERY Design + Architecture as the architect of record and Beacon Management LLC as the property manager. The development was financed in part with $12.5 million in federal Low-Income Housing Tax Credits (LIHTC) syndicated by Hunt Capital Partners …
CHICAGO — Developer Vista Property and general contractor Skender have broken ground on a 32-story apartment tower at 370 N. Morgan St. in Chicago’s Fulton Market neighborhood. Designed by Antunovich Associates, the 539,000-square-foot property will feature 494 units, including 99 affordable housing units. Floor plans will range from studios to two bedrooms. A residential lobby, leasing offices and 4,500 square feet of retail space will make up the ground floor. A parking podium with 192 spaces, 20 percent of which will have electric vehicle charging capabilities, will extend from floors two to four. The exterior aesthetic is inspired by a modern Mies van der Rohe design. Outdoor amenities will include a 30th-floor pool deck, yoga terrace, fire pits and outdoor grill kitchens. Inside, residents will have access to a fitness center, coworking areas, a lounge, private event and dining rooms, a golf simulator and various common areas. A new landscaped plaza will front the intersection of Kinzie and Morgan streets. In late 2024, demolition on the site began with the removal of the old single-story Fox Deluxe Foods building. The apartment tower is slated for completion in the second quarter of 2027. The project team includes DeSimone as the structural …
GLENVIEW, ILL. — Bottling Group LLC, operating as Pepsi Beverages Co., a division of PepsiCo. Inc., has leased Building 10 at The Logistics Campus in suburban Chicago’s Glenview. The lease for the 351,520-square-foot build-to-suit facility commences in February. Dermody is the property owner. Bottling Group LLC manufactures, distributes and sells a portfolio of nonalcoholic beverages, including soft drinks, bottled water, energy drinks and fruit juices. Site work for Building 10 is underway with delivery planned for the first quarter of 2026. Colliers represented Dermody, and Cresa represented Pepsi in the lease. The Logistics Campus is a master-planned, 10-building campus totaling 3.2 million square feet. Dermody recently completed construction on Phase 1, which consists of more than 1.2 million square feet across five buildings.