Thursday, July 3, 2025
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Midwest

DevelopmentHealthcareMidwestMinnesota

Kraus-Anderson Completes $3.3M Physical Therapy Clinic for Sanford Health in Bemidji, Minnesota

by Kristin Harlow

BEMIDJI, MINN. — Kraus-Anderson has completed a $3.3 million physical therapy clinic for Sanford Health in Bemidji, a city in northern Minnesota. The 23,000-square-foot project involved the conversion of an existing call center into a fully equipped clinic with dedicated areas for rehabilitation and wellness. Designed by EAPC Architects Engineers, the facility features semi-private treatment rooms for individualized patient care; sensory and pediatric gyms designed for child-focused therapy and rehabilitation; an adult fitness area equipped for strength-building and mobility improvement; and a specialized cardio gym to enhance patient care and recovery. The project also includes physical therapy treatment and neuro therapy spaces, office workspaces and support staff areas. Exterior improvements will include a new playground and redesigned employee entrance.

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AcquisitionsMichiganMidwestRetail

Howe Equipment Acquires Former AMC Theatres Property in Jackson, Michigan

by Kristin Harlow

JACKSON, MICH. — Howe Equipment has acquired a 4.5-acre property formerly occupied by AMC Theatres in Jackson, a city in southern Michigan. Bill McLeod and Tjader Gerdom of Gerdom Realty & Investment, in cooperation with Marla Chaliff and Mark Kaplan of Dimension Development Partners, represented the undisclosed seller. ERA Reardon Realty represented Howe.

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MidwestOhioRetail

Kroger Plans to Close 60 Stores Over Next 18 Months

by Kristin Harlow

CINCINNATI — In its first-quarter results, The Kroger Co. (NYSE: KR) unveiled plans to close approximately 60 stores over the next 18 months. The closures represent about 5 percent of the Cincinnati-based grocer’s stores, and come after Kroger’s attempt to acquire Albertsons was blocked. Kroger says it is taking a $100 million impairment charge related to the store closings and is committed to reinvesting the savings back into the customer experience. As a result, Kroger says the closures will not impact full-year guidance. The retailer will offer roles in other stores to all associates currently employed at affected stores. Total company sales were $45.1 billion in the first quarter, compared with $45.3 billion the same period last year. Excluding fuel, Kroger specialty pharmacy and adjustment items, sales increased 3.7 percent compared with the same period last year. Kroger’s first quarter ended on May 24. The grocer maintains roughly 1,200 stores across 16 states. The company’s stock price opened at $72 per share Monday, June 23, up from $50.02 per share one year ago.

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DevelopmentIllinoisLeasing ActivityMidwestMultifamily

Habitat Completes Phase II Lease-up of 43 Green Mixed-Income Community in Chicago

by Kristin Harlow

CHICAGO — Habitat has fully leased the apartments in the second phase of 43 Green, a mixed-income community in Chicago’s Bronzeville neighborhood. Located at 4309 S. Prairie Ave., immediately west of the Chicago Transit Authority’s (CTA) 43rd Street Green Line stop, 43 Green Phase II rises 10 stories and features 80 units, 44 of which are designated as affordable housing. Bordering the east side of the CTA station is Phase I of 43 Green, a 10-story, 99-unit building that includes 50 affordable housing units. Phase I opened in June 2023 and was fully leased by December of that year. Residences at Phase II are offered in studio, one- and two-bedroom floor plans ranging from 465 to 1,092 square feet. Amenities include two outdoor terraces, a fitness center, laundry facilities, flex work-from-home spaces, surface parking for 13 vehicles and 56 bicycle parking spots. The 80,000-square-foot building also features retail space. Representing an investment of more than $100 million across the project’s three phases, 43 Green is the first equitable transit-oriented development (ETOD) on Chicago’s South Side, according to Habitat. Prior to the city adopting its ETOD Policy Plan, nearly 90 percent of TOD projects between 2016 and 2019 were concentrated on …

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AcquisitionsIndianaMidwestRetail

Prudent Growth Buys Rivergate Shopping Center in Metro Indianapolis for $4.4M

by Kristin Harlow

SHELBYVILLE, IND. — Prudent Growth Partners LLC has purchased Rivergate Shopping Center in the Indianapolis suburb of Shelbyville for $4.4 million. Built in 1985 and renovated in 1995, the 45,314-square-foot property is currently home to 10 tenants with staggered lease expirations. The center has been well maintained, and no significant deferred maintenance needs exist, according to Prudent Growth.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 42,224 SF Industrial Building in Niles, Illinois

by Kristin Harlow

NILES, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 42,224-square-foot industrial building in the Chicago suburb of Niles. Located at 7777 Merrimac Ave., the single-tenant property was fully leased at the time of sale. Constructed in 1964, the facility sits on 2.4 acres and features two docks and parking for more than 89 cars. Bill Lussow of Bespoke Commercial Real Estate represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

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DevelopmentHealthcareMidwestMissouri

Phelps Health Opens New 17,500 SF Emergency Medical Services Base in Rolla, Missouri

by Kristin Harlow

ROLLA, MO. — Phelps Health has opened its new Emergency Medical Services (EMS) base in Rolla, a city in central Missouri in the heart of the Ozarks. McCarthy Building Cos. Inc. constructed the 17,500-square-foot building, which replaces an aging EMS station. Located on the main Phelps Health campus, the new base was partially funded by a $4 million American Rescue Plan Act grant from the State of Missouri. The site brings EMS teams closer to the emergency department while maintaining easy access to I-44. The building includes eight ambulance bays, a second helicopter landing pad, 16 bunk rooms for staff and crew, dedicated training rooms, amenities to support continuing education and extended shifts, and a tornado storm shelter.

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Company NewsMichiganMidwestNew HampshireNortheastRetailTop Stories

C&S Wholesale Agrees to Acquire SpartanNash in $1.8B Grocery Merger

by Taylor Williams

KEENE, N.H. AND GRAND RAPIDS, MICH. — C&S Wholesale Grocers, a New Hampshire-based food supplier whose brands include Piggly Wiggly and Grand Union, has agreed to acquire Michigan-based SpartanNash (NASDAQ: SPTN), owner of brands such as Our Family and Full Circle Market, in a merger valued at nearly $1.8 billion. The figure represents a purchase price of $26.90 per share of SpartanNash common stock in cash and includes the assumption of SpartanNash’s existing debt. The price marks a 52.5 percent premium over the company’s closing price of $17.64 per share on June 20 and a premium of 42 percent over the company’s 30-day volume-weighted average stock price as of that date. The merger, which has been unanimously approved by both companies’ boards of directors, is expected to close before the end of the year. Upon closing, the new company will operate more than 200 corporate-run grocery stores and almost 60 complementary distribution centers throughout the country. The distribution centers will supply more than 10,000 independent retail locations. “For our customers, this transaction creates the necessary scale, efficiency and purchasing power needed to enable independent retailers to compete more effectively with larger big box chains,” says Tony Sarsam, president and CEO …

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

New Perspective Acquires Five Senior Living Communities in Metro Twin Cities

by Kristin Harlow

MINNESOTA — New Perspective, a Minnetonka, Minn.-based senior living company, has acquired five properties in the Twin Cities metro area. The communities are located in White Bear Lake, Oakdale, Golden Valley, Rosedale and Minnetonka. Each of the properties offers assisted living and memory care services. Amenities include communal spaces, wellness and recreational programs and chef-prepared meals.  

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DevelopmentIndustrialKansasMidwest

Standard Motor Products Opens 574,732 SF Distribution Center in Shawnee, Kansas

by Kristin Harlow

SHAWNEE, KAN. — Standard Motor Products Inc. has opened its new distribution center at Heartland Logistics Park Building II in Hunt Midwest’s industrial park in Shawnee. Hunt Midwest built the 574,732-square-foot facility as a spec-to-suit logistics hub. Heartland Logistics Park offers tenants the ability to reach 282 million consumers within two-day shipping, according to Hunt Midwest. The park is located less than a half mile from K-7, which provides access to I-70, I-435 and I-35. Standard Motor Products relocated its Edwardsville, Kan., facility to Heartland Logistics Park. Building II offers 200,000 more square feet than the Edwardsville location and supports more advanced warehouse management technology.

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