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AcquisitionsDevelopmentIllinoisIndustrialMidwest

swissQprint America Acquires 3-Acre Site in Metro Chicago for New North American Headquarters

by Kristin Harlow

WEST DUNDEE, ILL. — swissQprint America, the U.S. arm of the Swiss digital printing technology company, has acquired a 3-acre parcel within Canterfield Corporate Campus in the northwest Chicago suburb of West Dundee. The company plans to use the land to house its new 30,000-square-foot North American headquarters, which will include modern office space, a high-tech showroom and a parts warehouse. The development marks the third building within Canterfield Corporate Campus. The remaining land is owned by HLC Partners, a West Dundee-based, family-owned business and division of Haeger Industries. NAI Hiffman is the leasing agent for the campus. Site design is led by Karl Heitman, president of Heitman Architects. Development Solutions Inc. (DSI) is the general contractor.

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Affordable HousingLoansMidwestMissouriMultifamily

Northmarq Secures $18M HUD-Insured Loan for Affordable Housing Community in Metro St. Louis

by Kristin Harlow

O’FALLON, MO. — Northmarq has secured more than $18 million in HUD financing for Southernside Apartments, a 220-unit affordable housing community in the St. Louis suburb of O’Fallon. The property features one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, game room, business center, great room, covered parking and walking trails. Eugene Harris of Northmarq arranged the 35-year loan on behalf of Hennessey Construction Co.

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IllinoisLeasing ActivityMidwestOffice

NAI Hiffman Negotiates Three Leases at Renovated Office Building in Lisle, Illinois

by Kristin Harlow

LISLE, ILL. — NAI Hiffman has negotiated three leases totaling 15,642 square feet at 2200 Cabot Drive, a renovated office building within the Corporate Lakes office park in Lisle. Agriculture company Syngenta signed a 13,381-square-foot lease at the five-story building. Prior to the pandemic, Syngenta occupied space in Downers Grove. Additionally, Bethany Christian Services inked a 1,217-square-foot lease, and Retirement Solutions leased 1,044 square feet. Patrick Kiefer of NAI Hiffman represented building owner RE Development Solutions in all three deals. The property is now 70 percent leased. RE Development Solutions acquired the building in November 2019 when it was 5 percent occupied. Ownership has completed extensive renovations, including a redesigned lobby, updated first floor and fifth-floor amenity suite, onsite deli, exterior monument signage, a conference room, updated corridors and washrooms and new mechanical systems. The building offers spec suites to meet demand from small and midsize companies seeking turnkey space.

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AcquisitionsIndustrialMichiganMidwest

Ferrero Agrees to Purchase WK Kellogg Co. for $3.1B

by Kristin Harlow

BATTLE CREEK, MICH. — The Ferrero Group has entered a definitive agreement to acquire Battle Creek-based WK Kellogg Co. (NYSE: KLG) for $23 per share in cash, or $3.1 billion. The acquisition includes the manufacturing, marketing and distribution facilities of WK Kellogg’s portfolio of breakfast cereals across the United States, Canada and the Caribbean. In North America, Ferrero and its affiliated companies currently count for more than 14,000 employees across 22 plants and 11 offices. The North America portfolio includes Nutella, Kinder, Tic Tac and Ferrero Rocher as well as American brands such as Butterfinger, Keebler and Famous Amos. After the transaction closes, Battle Creek will serve as Ferrero’s headquarters for North America cereal. Additionally, shares of WK Kellogg’s common stock will no longer trade on the New York Stock Exchange, and the company will become a wholly owned subsidiary of Ferrero. The transaction, which has been unanimously approved by the board of directors of WK Kellogg, is subject to approval by WK Kellogg shareholders, regulatory approvals and other customary closing conditions. The deal is expected to close in the second half of 2025. Lazard is lead financial advisor to Ferrero, with BofA Securities acting as co-adviser and Davis Polk …

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AcquisitionsDevelopmentIllinoisMidwestMultifamily

Kayne Anderson, JDL to Acquire Former Lincoln Yards North Development Site in Chicago

by Kristin Harlow

CHICAGO — Kayne Anderson Real Estate and JDL Development have entered into an agreement to acquire a 31-acre development site at 2001 N. Southport Ave. in Chicago. The site was formerly referred to as Lincoln Yards North and is situated prominently on the Chicago River. The developers plan to reimagine and rebrand the property. The new development, which will be heavily focused on residential, will be named Foundry Park. Plans call for homes, condos and apartments as well as commercial uses. The developers plan to include affordable housing units and create a walkable neighborhood with open green space. The transaction is expected to close by the end of the third quarter.

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AcquisitionsMidwestMinnesotaMultifamilyStudent Housing

Newmark Arranges Sale of Two-Property Student Housing Portfolio in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Newmark has arranged the sale of a two-property student housing portfolio serving the University of Minnesota in Minneapolis. The portfolio includes The Bridges Dinkytown, a 210-unit community at 930 University Ave. SE, and The Knoll Dinkytown, a 101-unit property at 1101 University Ave. SE. Ryan Lang, Jack Brett, Ben Harkrider and Jim Damiani of Newmark represented the undisclosed seller. Ben Roelke, Ian Walker and Trent Houchin of Newmark arranged $36 million in financing through Corebridge Financial on behalf of the buyer, WFI, which will implement a $1.6 million capital improvement program at the properties. Both assets feature fully furnished apartments, ranging from studios to four-bedroom layouts.

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DevelopmentIllinoisLife SciencesMidwest

Beacon Capital Partners, TCC Deliver 300,000 SF Hyde Park Labs in Chicago

by Kristin Harlow

CHICAGO — Beacon Capital Partners and Trammell Crow Co. (TCC) have completed Hyde Park Labs in Chicago. The partnership has also opened its STEM engagement center for local youth, Southside STEM Station, on the ground floor of the 300,000-square-foot development. The learning hub offers free STEM programs for students, families and educators on the city’s South Side. Located at 5207 S. Harper Ave. and rising 13 stories, Hyde Park Labs features nine full floors of Class A lab and office space, ground-level retail and four levels of parking. The developers say the project marks the South Side of Chicago’s first commercial, purpose-built advanced R&D lab building. More than 40,000 square feet of tenant amenities includes a fifth-floor terrace dubbed “The Lawn” with grills, firepits and direct access to the interior tenant lounge. The development also features private terraces on each floor, secure bike storage, an indoor bar and lounge and an executive boardroom. The University of Chicago has pre-leased approximately 55,000 square feet at Hyde Park Labs. In addition to faculty research, the university’s space includes its new UChicago Science Incubator, a partnership between the Polsky Center for Entrepreneurship and Innovation and Portal Innovations. Five UChicago-affiliated companies are among the …

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DevelopmentKansasLeasing ActivityMidwestRetail

WIRED Nears Completion of 7,000 SF Wellness, Beauty Hub in Prairie Village, Kansas

by Kristin Harlow

PRAIRIE VILLAGE, KAN. — Women in Real Estate Development (WIRED) is nearing completion of a wellness and beauty destination at the corner of 75th Street and State Line Road in Prairie Village near Overland Park. The 7,000-square-foot property is named “c u r a t e d.” In August 2024, a group of 22 local women investors, led by Sheryl Vickers of Select Sites LLC, acquired the property. They have reimagined the building from 1958 into a commercial space tailored for health, beauty and wellness practitioners looking to reach consumers across Mission Hills, Waldo, Brookside, Leawood, Overland Park and Fairway. The interior space features new paint, flooring and lighting. The project’s suites feature natural light, private entries and modern finishes. The project also included the installation of new energy-efficient windows. Final plans call for a new parking surface and concrete with ADA access and new landscaping. The anchor tenant is The Healing Collective, which occupies eight suites and brings the building’s occupancy to 70 percent.

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AcquisitionsMidwestMultifamilyOhio

Abide Capital, MCB Acquire Harlow on Main Apartment Complex in Columbus for $16.5M

by Kristin Harlow

COLUMBUS, OHIO — Abide Capital Group and joint venture partner MCB Real Estate have acquired Harlow on Main, a 120-unit apartment complex in downtown Columbus, for $16.5 million. Purpose-built for working professionals and recent graduates, the property at 195 E. Main St. in the Civic Center District was completed in 2020. At the time of sale, Harlow on Main was more than 86 percent leased. The asset features 7,000 square feet of ground-floor retail space, structured parking and an amenity suite. WesBanco provided acquisition financing. Newmark marketed the property for sale on behalf of the undisclosed seller.

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DevelopmentIndustrialMidwestMinnesota

EGA Spectro Alloys Begins Production at 90,000 SF Aluminum Recycling Facility in Minnesota

by Kristin Harlow

ROSEMOUNT, MINN. — EGA Spectro Alloys, a Midwest-based producer of recycled aluminum alloys, has begun production at its aluminum recycling expansion project in Rosemount. The 90,000-square-foot facility will produce up to 120 million pounds per year of recycled aluminum billets from scrap aluminum. The expansion will add up to 50 full-time jobs once the facility reaches full production capacity in the first quarter of 2026. Aluminum billet, logs of aluminum up to 25 feet long, is used as raw material for extruders, which turn it into products like railings, window and door trim, and structural components for cars, boats, airplanes, trailers and docks. Recycling aluminum requires 95 percent less electricity than producing new aluminum and generates a fraction of the greenhouse gas emissions. Metal from the facility will be sold under EGA’s recycled product brand RevivAL, a nod to the company’s 52-year history of giving used aluminum new life. The facility also features a new laboratory.

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