Thursday, May 28, 2026
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Midwest

AcquisitionsBuild-to-RentKansasMidwest

Hunt Midwest, Park Place Partners Sell Build-to-Rent Community in Kansas for $45.2M

by Kristin Harlow

LENEXA, KAN. — Hunt Midwest and Park Place Partners have sold The Fairways Villas at City Center in Lenexa, a southern suburb of Kansas City, for $42.5 million. Colorado-based Griffis/Blessing Inc. purchased the build-to-rent community, which features 80 homes and is situated next to Canyon Farms Golf Course. Hunt Midwest and Park Place Partners completed development of the property in early 2020. The homes average 2,289 square feet across two levels and include a two-car garage. Monthly rents start around $3,605.

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DevelopmentIndustrialMidwestWisconsin

Zilber Property Group to Build Two Spec Industrial Projects Totaling 500,000 SF in Wisconsin

by Kristin Harlow

GERMANTOWN AND JANESVILLE, WIS. — Zilber Property Group has unveiled plans to build two speculative industrial projects totaling more than 500,000 square feet in Wisconsin. Plans call for a 230,000-square-foot building in Germantown to be named Zilber Industrial 5 at Germantown Gateway Corporate Park. Zilber Industrial 9 at Janesville will span roughly 300,000 square feet. Construction is expected to begin this spring once the developer receives the necessary municipal approvals. Completion is slated for this fall. Each building will feature a clear height of 32 feet and onsite trailer parking. The project team includes Pinnacle Engineering Group and Riley Construction. Stephen Perry Smith Architects is providing design services for the Germantown project, while Zimmerman Architectural Studios is designing the Janesville development. Michael Kleber of Zilber will oversee lease-up of both buildings.

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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Brokers $8M Sale of Retail Center in Hammond, Indiana

by Kristin Harlow

HAMMOND, IND. — Marcus & Millichap has brokered the $8 million sale of a 55,010-square-foot retail center in Hammond, about 25 miles south of Chicago. Dollar Tree and Ross Dress for Less anchor the property, which was constructed in 2016 and is located at 1105 5th Ave. Additional tenants at the fully leased center include Rainbow and Sadoni Beauty Supply. Nicholas Kanich and Mitchell Kiven of Marcus & Millichap represented the seller, Luke Brands. Friedman Real Estate represented the buyer, Canyon Park Capital.

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AcquisitionsIndustrialMidwestWisconsin

Venture One Acquires 196,300 SF Industrial Building in Pleasant Prairie, Wisconsin

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 196,300-square-foot industrial building in Pleasant Prairie for an undisclosed price. Located at 10550 86th Ave. within LakeView Corporate Park, the property was partially leased to two tenants at the time of sale. The building features 20 exterior docks, three drive-in doors, parking for 160 cars and a clear height of 35 feet. Mike Tenteris, Adam Tyler and Keith Puritz of Cushman & Wakefield represented the undisclosed seller. Puritz, Eric Fischer and Marc Samuels of Cushman & Wakefield will market the remaining 47,932 square feet for lease. VK Industrial V LP is a partnership between Venture One and Kovitz Investment Group.

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IllinoisIndustrialLoansMidwest

JLL Arranges $8M Acquisition Loan for Two-Property Industrial Portfolio in Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged an $8 million loan for the acquisition of a two-property industrial portfolio totaling 90,849 square feet in Chicago. Jeff Sause, Brian Walsh and Wyatt Strahan of JLL represented the borrower, California-based Unilev Capital Corp. A national bank provided the loan. Unilev’s industrial platform, which launched less than 18 months ago, has acquired $120 million worth of industrial assets nationwide.

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AcquisitionsMidwestMinnesotaRetail

JLL Arranges Sale of Galleria Edina Shopping Mall in Suburban Minneapolis

by Kristin Harlow

EDINA, MINN. — JLL Capital Markets has arranged the sale of Galleria Edina in the Minneapolis suburb of Edina. The sales price was $150 million, according to Twin Cities Business. The 398,585-square-foot shopping mall is 99 percent leased to tenants such as Louis Vuitton, Tiffany & Co., Lululemon, Peloton, Tory Burch, Pottery Barn, Bluemercury, Warby Parker, Coach, Shinola and more. Danny Finkle, Barry Brown, Dave Monahan, Amy Sands, Cameron Pittman, Matt Hazelton and Cory Villaume of JLL represented the undisclosed seller. Local investor group 70th Street Properties LLC was the buyer. Park State Bank provided acquisition financing.

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IllinoisLoansMidwestOfficeRetail

PGIM Real Estate Provides $101M in Acquisition Financing for Four-Property Portfolio in Chicago

by Kristin Harlow

CHICAGO — PGIM Real Estate has provided $101 million in floating-rate bridge financing for the acquisition and lease-up of a four-property retail and office portfolio in Chicago’s Fulton Market district. The buildings span 168,206 square feet and are home to 18 tenants. Asana Partners, a real estate investment company headquartered in Charlotte, N.C., was the borrower. Further details were not provided.

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DevelopmentIllinoisMidwestRetail

IMPACT Strategies Begins Renovations at World Wide Technology Raceway Near St. Louis

by Kristin Harlow

MADISON, ILL. — Design-build firm IMPACT Strategies has begun interior and exterior renovations of the Oval Tower Suites at World Wide Technology Raceway in Madison, about nine miles northeast of St. Louis. The project includes improvements to the private viewing area, including the rooftop space and 28 private suites. The motorsport racing facility is undergoing a multi-million-dollar renovation plan leading up to the 2022 NASCAR Cup Series on June 5.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $4.8M Sale of Retail Center in Forsyth, Illinois

by Kristin Harlow

FORSYTH, ILL. — Marcus & Millichap has brokered the $4.8 million sale of Forsyth Center in Forsyth, about 45 miles east of Springfield, the state capital. The 30,087-square-foot retail center is located at 1460 Koester Road. The property is home to PetSmart and Dollar Tree, both of which have been tenants since the center was constructed in 2006. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller, a local developer. Buyer information was not provided.

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AcquisitionsIllinoisMidwestRetail

Boulder Group Negotiates $4.1M Sale of Net-Leased Retail Property in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — The Boulder Group has negotiated the sale of a single-tenant, net-leased retail property occupied by JOANN Fabrics in Bloomington for $4.1 million. The 21,828-square-foot building is located at 1701 E. Empire St. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate firm, as well as the buyer, a national real estate company.

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