Thursday, July 2, 2026
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AcquisitionsIndianaIndustrialMidwest

MDH Partners Acquires 193,348 SF Industrial Building in Indianapolis

by Kristin Harlow

INDIANAPOLIS — MDH Partners has acquired Park 100 Building 71, a 193,348-square-foot industrial building in Indianapolis. The purchase price was undisclosed. Constructed in 1988, the facility features a clear height of 24 feet, 26 exterior dock doors and 90 car parking spaces. The property is 87 percent leased to DB Schenker, Watkins & Shepard Trucking Inc. and MKM Distribution Service. Alex Cantu and Alex Davenport of Colliers represented the undisclosed seller. Houston Hawley served as the acquisition lead for MDH Partners, which now owns more than 1 million square feet in Indiana.

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AcquisitionsIndianaMidwestRetail

Hanley Investment Group Arranges $10M Sale of Retail Property in Terre Haute, Indiana

by Kristin Harlow

TERRE HAUTE, IND. — Hanley Investment Group Real Estate Advisors has arranged the sale of South Pointe Crossing in Terre Haute for $10 million. The sale of the retail property was executed in two separate transactions. Dylan Mallory of Hanley, in association with ParaSell Inc., represented the seller, Thompson Thrift Commercial, a wholly owned company of Thompson Thrift. The first transaction consisted of a 2,212-square-foot single-tenant property occupied by Starbucks that sold for $1.8 million. The drive-thru building was constructed in 2007 and renovated in 2017. Drew Baldwin and Jake Duska of Baldwin Brothers Inc. represented the buyer, a Pennsylvania-based family office completing a 1031 exchange. The second transaction included a 41,633-square-foot retail center across four separate buildings. Built in 2002, the property was 97 percent occupied at the time of sale by tenants such as Sherwin-Williams, T-Mobile, Charles Schwab & Co., Papa John’s, Once Upon a Child, Plato’s Closet, Big Red Liquors and Indiana Farm Bureau Insurance. The sales price was $8.2 million. Scott Pollom and Jane Drew Pollom of F.C. Tucker Co. Inc. represented the buyer, an Indianapolis-based private partnership completing a 1031 exchange.

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AcquisitionsIllinoisIndustrialMidwestTop StoriesWisconsin

EQT Exeter Purchases 3.8 MSF Industrial Portfolio in Wisconsin, Illinois

by John Nelson

PLEASANT PRAIRIE, WIS. AND NORTH CHICAGO, ILL. — EQT Exeter, a global industrial and residential investment firm, has purchased an eight-property industrial portfolio in Wisconsin and Illinois totaling 3.8 million square feet. CenterPoint Properties, a warehouse and distribution center investor and developer based in Oak Brook, Ill., and an unnamed investment partner sold the portfolio to EQT Exeter. John Huguenard and Kurt Sarbaugh of JLL represented CenterPoint in the transaction. The sales price was not disclosed, but the Milwaukee Business Journal reports the assets traded for $290 million. The properties include seven facilities within the master-planned LakeView Corporate Park in Pleasant Prairie, which is situated near I-94 and provides users with connectivity to population centers in Milwaukee 40 miles north and Chicago 60 miles to the south. The lone Illinois asset was a facility located at 3200 Skokie Highway in North Chicago. The eight properties were fully leased at the time of sale to nine tenants. The facilities feature clear heights averaging 32 feet, ample loading options and fully circulating truck courts. “In these times of economic uncertainty, we are even more focused on selectively buying high-quality and well-located real estate like LakeView to serve our global tenant relationships,” says …

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AcquisitionsIllinoisMidwestRestaurantRetail

Quantum Negotiates $32.7M Sale of Retail Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of an 81,760-square-foot retail center in Naperville for $32.7 million. The property, which was 96 percent leased at the time of sale, is home to Old Town Pour House, Maggiano’s Little Italy, White Chocolate Grill, Morton’s Steakhouse, Jason’s Deli, Naf Naf Grill, Bombay Wraps and Brick’s Wood Fire Pizza. Chad Firsel, Dan Waszak and Zack Hilgendorf of Quantum represented the seller, a Dallas-based institutional investment firm, and the buyer, a Philadelphia-based investment fund.

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IllinoisLoansMidwestNorthmarqRetail

Northmarq Arranges $12.5M Loan for Refinancing of Five-Property Retail Portfolio in Metro St. Louis

by Kristin Harlow

EDWARDSVILLE, GLEN CARBON AND HIGHLAND, ILL. — Northmarq has arranged a $12.5 million loan for the refinancing of a five-property retail portfolio in metro St. Louis. The centers, built between 1998 and 2019, total about 110,000 square feet and are located in Edwardsville, Glen Carbon and Highland. Jeff Chaney of Northmarq arranged the fixed-rate loan, which features a 20-year term and a 20-year amortization schedule. A life insurance company provided the loan to the borrower, R.L.P. Development Co. Inc.

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IllinoisIndustrialLeasing ActivityMidwest

Stripmasters Services Signs 161,000 SF Industrial Lease in Decatur, Illinois

by Kristin Harlow

DECATUR, ILL. — Stripmasters Services Inc. has signed a 161,000-square-foot industrial lease at Commerce Park in Decatur, about 40 miles east of Springfield. Commerce Park is situated on 147 acres near I-72. Queenanne Realty LLC, a Chicago-based subsidiary of New Jersey-based Weiss Realty Co. Inc., owns the property. Weiss plans to expand the park over the next several years. Stripmasters is a commercial and industrial blasting, painting and power coating company that services the Midwest region.

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AcquisitionsIndianaMidwestRetail

Boulder Group Brokers $4.1M Sale of Firestone-Occupied Property in Portage, Indiana

by Kristin Harlow

PORTAGE, IND. — The Boulder Group has brokered the $4.1 million sale of a single-tenant retail property occupied by Firestone in Portage, a city in Northwest Indiana. The 6,116-square-foot building is located on Highway 6. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, a Midwest-based investor completing a 1031 exchange. A national development firm was the seller.

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AcquisitionsIowaMidwestRetail

Marcus & Millichap Arranges $1.8M Sale of Retail Center in Davenport, Iowa

by Kristin Harlow

DAVENPORT, IOWA — Marcus & Millichap has arranged the sale of Elmore Avenue Shoppes in Davenport for $1.8 million. The 9,800-square-foot retail center is located at 4810 Elmore Ave. The center was more than 85 percent leased at the time of sale to GameStop, Hungry Hobo, Novel Nail Studio, Computer Repair Center and 100% Chiropractic. The Rowlett Group, investment specialists in Marcus & Millichap’s Milwaukee office, represented the seller, a private investor group. The team also represented the buyer, which was a member of the seller’s investor group.

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DevelopmentMidwestMixed-UseOhioTop Stories

Trinitas Ventures, Crawford Hoying Begin $250M Phase II of Mixed-Use Project in Cincinnati

by Taylor Williams

CINCINNATI — A partnership between two regional developers, Indiana-based Trinitas Ventures and Ohio-based Crawford Hoying, has started construction of the $250 million second phase of The District at Clifton Heights, a mixed-use project in Cincinnati. The District at Clifton Heights is located across the street from the University of Cincinnati at the site of the former Deaconess Hospital. The first phase of the project centered on construction of The Deacon, an eight-story, 351-bed student housing building that opened in August 2019. Development costs for all phases of the project are estimated at $640 million. The largest piece of the second phase also revolves around student housing. Chicago-based Core Spaces is leading the development of a 14-story tower that will feature 1,112 beds across 380 units. Branded Hub Cincinnati, the project is scheduled for completion in advance of the fall 2024 semester. The other major component of the second phase involves the development of Hotel Celare, a $65 million project. The hotel will rise seven stories, house 171 rooms and 18,000 square feet of meeting space and feature a rooftop bar overlooking the campus entrance. Crawford Hoying is leading the development of the hotel, which is slated for a summer 2024 …

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LoansMidwestMinnesotaMultifamilyStudent Housing

Northmarq Arranges $41.6M Loan for Refinancing of Minnesota Student Housing Property

by Kristin Harlow

MANKATO, MINN. — Northmarq has arranged a $41.6 million loan for the refinancing of The Grove at Mankato in Mankato, a city in southern Minnesota. The 524-unit student housing property is located at 200 Briargate Road. Andy Finn of Northmarq arranged the nonrecourse loan, which features a seven-year term, 30-year amortization schedule and three years of interest-only payments. A credit union provided the fixed-rate loan. The borrower was undisclosed.

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