Friday, February 6, 2026
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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Arranges $1.5M Sale of Industrial Building in Arlington Heights, Illinois

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Lee & Associates of Illinois has arranged the $1.5 million sale of a 15,654-square-foot industrial building in the Chicago suburb of Arlington Heights. The property is located at 3860 N. Ventura Drive. Dustin Albers of Lee & Associates represented the seller, AmBeed, a chemical wholesaler. The buyer, Digital Design Corp., is an engineering consultant already located in the same business park. The property will serve as an additional location for the company. Albers also represented AmBeed in its purchase of 1001 Asbury in Buffalo Grove, allowing the firm to consolidate its operations to a new corporate headquarters.

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AcquisitionsMichiganMidwestOffice

Friedman Real Estate Arranges Auction Sale of 640,000 SF Office Campus in Metro Detroit

by Kristin Harlow

SOUTHFIELD, MICH. — Friedman Real Estate has arranged the auction sale of West 11, a three-building office campus spanning 23.9 acres and totaling more than 640,000 square feet in the Detroit suburb of Southfield. The undisclosed buyer plans to convert the property into mixed-use. Friedman worked with auction partner Ten-X. The sales price and seller were not disclosed.

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Affordable HousingDevelopmentMidwestMultifamilyNebraska

Annex Group Opens $52.7M Affordable Housing Development in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group has opened Union at Antelope Valley, a 187-unit affordable housing development in Lincoln. The $52.7 million community features one-, two- and three-bedroom units that are reserved for households whose income levels are at or below 60 percent of the area median income. The property features amenities such as a community center, fitness center, dog park and courtyard. The ground floor of the building houses a parking garage, and the residential levels are on the top four floors. Project partners included BVH Architecture, REGA Engineering Group, Summit LIHTC Consulting, NP Dodge, US Bancorp Impact Finance and Cedar Rapids Bank & Trust. The Nebraska Investment Finance Authority also partnered with Annex Group on the project.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $33.9M Sale of Avondale Luxury Townhouse Community in Chicago

by Kristin Harlow

CHICAGO — Kiser Group has brokered the $33.9 million sale of The Avondale, a 52-unit luxury townhouse community located at 4200 W. Belmont Ave. in Chicago. Built by Noah Properties, the asset sold to an out-of-state investor. The property features a mix of three-, four- and five-bedroom units. Each residence features a two-car garage and a rooftop deck. At the time of sale, the community was 92 percent occupied. The buyer plans to reposition the asset by selling the units individually as townhome condominiums. Andy Friedman, Jake Parker and Viktor Radzieta of Kiser brokered the sale.

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IndianaIndustrialLeasing ActivityMidwest

Hearn Industrial Services Signs 197,587 SF Lease in East Chicago, Indiana

by Kristin Harlow

EAST CHICAGO, IND. — Hearn Industrial Services has signed a 197,587-square-foot lease at 1200 W. 145th St. in East Chicago. The Missner Group owns the newly developed industrial building. The tenant, a third-party logistics provider supporting Ford Motor Co.’s South Side Chicago plant, will utilize the space for the storage and distribution of parts for automotive manufacturing. The Missner Group is serving as general contractor for the build-out, which includes customized office and warehouse configurations. The 249,600-square-foot building was developed on a speculative basis and is now fully leased.

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Leasing ActivityMichiganMidwestRetail

Back Nine Golf Simulator Inks 2,127 SF Lease at Crosswinds Mall in West Bloomfield, Michigan

by Kristin Harlow

WEST BLOOMFIELD, MICH. — The Back Nine Golf Simulator has signed a 2,127-square-foot retail lease at Crosswinds Mall in West Bloomfield. Michael Murphy of Gerdom Realty & Investment represented the tenant, which is opening its ninth location in Michigan. Marvin Petrous of Signature Associates represented the undisclosed landlord.

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IndustrialMarket ReportsMidwestMidwest Market ReportsOhio

Why Industrial Users Are Taking a Closer Look at Cleveland

by Kristin Harlow

By David Stecker, JLL As advanced manufacturing reshapes industrial real estate across the Midwest, Cleveland is emerging as a quietly powerful hub — offering scalable space, a strategic location and infrastructure ideal for high-growth sectors. While other Midwest metros have gained national attention for headline-grabbing investments, Cleveland is carving out its own unique path to growth, supported by advanced industries, a skilled workforce and a strong real estate foundation. The region’s industrial market remains competitive and resilient, even amid broader economic headwinds. Despite the recent move-out of Joann Fabric’s 1.4 million-square-foot facility in Summit County, overall fundamentals remain healthy, and Class A space is in especially high demand.  For high-tech and manufacturing users seeking logistics-ready facilities in a cost-effective market, Cleveland delivers — offering the right mix of space, speed and strategic location that today’s industrial users are actively pursuing. A market of opportunity According to JLL’s second-quarter 2025 Cleveland Industrial Insights Report, total vacancy in the market sat at 3.8 percent. While this represents a slight uptick following Joann’s exit, it still signals robust market health. Class A availability is especially tight, driven by a wave of large leases signed in newly developed properties. That momentum is putting upward …

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LoansMidwestMissouriMultifamily

Gantry Arranges $32.4M Loan for Refinancing of Apartment Community in Suburban St. Louis

by Kristin Harlow

VALLEY PARK, MO. — Gantry has arranged a $32.4 million permanent loan to refinance construction debt for 44 West Luxury Living in the St. Louis suburb of Valley Park. Mia Rose Holdings is the developer and owner of the 204-unit, garden-style apartment community. Comprised of five buildings and a clubhouse, the property was completed in 2024. In addition to the clubhouse, amenities include a heated pool and sundeck, outdoor grill area and fitness center. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate investor. An institutional direct lender provided the five-year, fixed-rate loan.

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IllinoisLoansMidwestOfficeRetail

Next Realty Refinances 135,315 SF Kingsbury Center Office, Retail Building in Chicago’s River North

by Kristin Harlow

CHICAGO — Kingsbury Orleans LP, a partnership led by an affiliate of Next Realty LLC, has refinanced Kingsbury Center located at 350 W. Hubbard St. in Chicago’s River North. The Next Realty affiliate has been an investment partner in the 135,315-square-foot office and retail building since it was developed in 1988. Habitat, a major building tenant, has provided management services since 1992 in addition to maintaining an ownership interest through an affiliate. Proceeds from the long-term refinancing, which extends through 2050, provide working capital and flexibility to market and build out currently available building vacancies. At the time of the refinancing, Kingsbury Center was 95 percent leased. Kingsbury Center rises six stories with 92,433 square feet of office space and 42,882 square feet of ground-floor retail space. Signature tenants include Habitat, Related Cos., CVS and Petco. Office tenants are primarily in the finance, real estate, legal and service sectors. Steve Levitas of Newmark is leasing the office space vacancy. Daniel Rosenberg of BWE arranged the financing.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $10.9M Sale of Multifamily Property in Chicago’s Lakeview Neighborhood

by Kristin Harlow

CHICAGO — Kiser Group has brokered the $10.9 million sale of a multifamily property located at 434 W. Wellington Ave. in Chicago’s Lakeview neighborhood. Lee Kiser, Andy Friedman, Jake Parker and Viktor Radzieta of Kiser represented the seller, TLC Management. The buyer, J&J Equities, plans to make property improvements. The asset was 98 percent occupied at the time of sale.

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