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

Midwest

AcquisitionsIndustrialMidwestOhio

Marcus & Millichap Brokers $2.5M Sale of Columbus Industrial Property

by Kristin Harlow

COLUMBUS, OHIO — Marcus & Millichap has brokered the $2.5 million sale of a 25,360-square-foot industrial property in Columbus. Located at 2536 Creekway Drive, the asset is fully leased to Service Partners under a new triple-net lease with 2.5 percent annual increases through May 2029. The tenant, a subsidiary of TopBuild Corp., occupies both bays of the facility, which was built in 1988 on 1.5 acres. Service Partners relocated to the site in summer 2024 from Mansfield, Ohio. Nathan Pealer of Marcus & Millichap represented the seller, an entity doing business as RM-USE LLC. The property sold for 99 percent of the asking price.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestRetailWisconsin

NAI Pfefferle Arranges Sale of 8,500 SF Retail Building in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — NAI Pfefferle has arranged the sale of an 8,500-square-foot retail building in the Milwaukee suburb of Brookfield. The sales price was undisclosed, but the asking price was just under $3 million. Jan Kadow of NAI Pfefferle brokered the sale of the property, which is located at 200 N. Moorland Road.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMichiganMidwestRetail

Beem Light Sauna to Open 2,025 SF Location at Boardwalk Shopping Center in Suburban Detroit

by Kristin Harlow

WEST BLOOMFIELD TOWNSHIP, MICH. — Beem Light Sauna has signed a 2,025-square-foot lease to open at The Boardwalk shopping center in West Bloomfield Township, a northwest suburb of Detroit. Michael Murphy of Gerdom Realty & Investment represented the landlord, Beztak Properties. Jacob Farber of Morow Hill represented the tenant, which is a light therapy wellness studio. The lease marks the tenant’s second location in Michigan.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMissouriMultifamily

MBG Nears Completion of 180-Unit Luxury Apartment Complex in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Builder MBG is nearing completion of Hearthstone at Autumn Hollow, a 180-unit luxury apartment complex in the St. Louis suburb of Wentzville. The first building is slated for occupancy this month, with the entire five-building complex slated for completion in January. Mia Rose Holdings and J.V. Lombardo are co-developing the community. Amenities will include a fitness center, coworking space, resort-style pool, conference room, dog park, clubhouse and walking paths. Capital Eleven Management is the property manager. Additional project partners include Rosemann & Associates, Engenuity, Civil and Environmental Consultants and Landesign.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHealthcareLoansMidwestOhio

MMCC Arranges $5.1M Acquisition Loan for Medical Office Property in Canal Winchester, Ohio

by Kristin Harlow

CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRestaurantRetail

Boulder Group Brokers $2.7M Sale of Chipotle-Occupied Retail Building in Chicago Heights

by Kristin Harlow

CHICAGO HEIGHTS, ILL. — The Boulder Group has brokered the $2.7 million sale of a retail building net leased to Chipotle in Chicago Heights. The newly constructed property at 1399 W. Lincoln Highway features a drive-thru. Chipotle has a new 15-year lease with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based commercial real estate company. The buyer was a 1031 exchange investor based in California. As of 2025, there are 3,752 Chipotle locations worldwide.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentMichiganMidwestRetail

Old National Bank Buys 1.2-Acre Development Site for New Branch Location Near Grand Rapids

by Kristin Harlow

CASCADE TOWNSHIP, MICH. — Old National Bank has purchased a development site at 2851 Charlevoix Drive SE in Cascade Township near Grand Rapids. The 1.2-acre parcel is situated directly across from a Walmart Supercenter and offers convenient access to I-96. Old National Bank plans to build a 3,470-square-foot retail branch, which is slated to open later this year. Bob Lotzar of NAI Wisinski of West Michigan represented the buyer in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMidwestMultifamilyOhio

Woda Cooper, Franklinton Development Association Open 97-Unit Affordable Housing Project in Columbus

by Kristin Harlow

COLUMBUS, OHIO — Woda Cooper Cos. Inc. and co-developer Franklinton Development Association (FDA) have opened Starling Yard, a 97-unit affordable housing project in Columbus. The project involved the adaptive reuse of a vacant school built in 1908 along with two new-construction buildings. Starling Yard is situated in the Franklinton neighborhood on the west side of Columbus between Central and Brehl avenues. Originally built as West High School, the building later served as Starling Middle School before it closed in 2013. The property was purchased for the development project through an agreement with the Board of Education of the Columbus City School District. Starling Yard offers one-, two- and three-bedroom units for residents with household incomes of 30 to 80 percent of the area median income. Rental rates range from $401 to $1,295 per month, depending on income restriction and size of unit. There are five units adapted for those with mobility challenges and four units for those with sight and hearing disabilities. The restored school building features 45 units that preserve architectural features such as original tin ceilings, flooring, doors, trim and chalkboards. The new buildings total 52 units and rise three stories. Amenities include a community room, laundry room, …

Continue Reading
FacebookTwitterLinkedinEmail
CivicDevelopmentMidwestMinnesota

Kraus-Anderson Breaks Ground on $20.4M Fire Station in Victoria, Minnesota

by Kristin Harlow

VICTORIA, MINN. — Kraus-Anderson has begun construction of a new $20.4 million fire station for the City of Victoria at 8250 Kochia Lane. Designed by CNH Architects, the facility in metro Minneapolis will support staffing changes necessary to meet Victoria’s increased demand for service, according to a news release. The new station will enable firefighters to sleep inside the building and respond directly to calls for service versus responding from home or work, which will reduce overall response times across the community. The two-story, 40,230-square-foot building will feature six apparatus bays, a training tower, mezzanine, decontamination areas, living quarters, a lobby and offices. A large classroom will also function as the city’s emergency operation center. Completion is slated for June 2026.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts