Tuesday, April 28, 2026
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Midwest

AcquisitionsMidwestMissouriMultifamily

Monument Capital Management Acquires Apartment Community in Metro St. Louis for $67.3M

by Kristin Harlow

MARYLAND HEIGHTS, MO. — Monument Capital Management, an A-Rod Corp. subsidiary founded by Alex Rodriguez and Ramon Corona in 2012, has acquired Haven on the Lake in Maryland Heights for $67.3 million. Built in 1974, the 528-unit apartment community is located at 2050 Lakerun Court in suburban St. Louis. Amenities include a fitness center, business center, newly renovated clubhouse and indoor and outdoor tennis courts. Brad Williamson and Wesley Moczul of Berkadia originated $52 million in acquisition financing through Freddie Mac. The six-year loan features a fixed interest rate. Matt Bukhshtaber of CBRE represented the seller, FPA5 Pheasant Run LLC. The acquisition marks Monument’s entry into the Missouri market. Monument plans to implement a capital improvements program throughout the property’s unit interiors as well as the exteriors and community amenities.

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DevelopmentMidwestMissouriMultifamily

Sky Real Estate, Sunflower Development Complete $36M Multifamily Adaptive Reuse Project in St. Joseph, Missouri

by Kristin Harlow

ST. JOSEPH, MO. — Sky Real Estate LLC and Sunflower Development Group LLC have completed a $36 million adaptive multifamily reuse project in downtown St. Joseph, about 55 miles north of Kansas City. The project involved the conversion of the former Richardson Dry Goods Co. headquarters into a 140-unit, loft-style apartment complex named American Electric Lofts. Amenities include a game room, fitness room, pet park and smart home technology throughout the property. Hazel’s Coffee recently opened on the building’s first floor. SWD Architects, Lankford Fendler + Associates and Rau Construction made up the project team. The developers utilized federal and state historic tax credits.

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AcquisitionsIndianaIndustrialMidwest

Savills Brokers $24.7M Sale of Manufacturing Plant in Evansville, Indiana

by Kristin Harlow

EVANSVILLE, IND. — Savills has brokered the sale of Graham Packaging’s plastics manufacturing plant in Evansville for $24.7 million. The 266,720-square-foot, net-leased facility is located at 5504 Foundation Drive within Vanderburgh Industrial Park. Graham Packaging produces 300 million food and beverage containers annually at the property, which was built in 2002 and expanded in 2008. Maurice Nieman of Savills represented the undisclosed seller. SomeraRoad was the buyer.

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IndianaLoansMidwestMultifamily

ACRE Provides $21M for Renovation of Multifamily Property in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Asia Capital Real Estate (ACRE) has provided a $21 million loan for the renovation of Williamsburg North in Indianapolis. The 318-unit multifamily property, located at 4430 Brookline Court, was built in the 1960s. Amenities include a clubhouse, dog park, fitness center, pool and picnic areas. At the time of loan closing, the asset was 97 percent leased. The three-year loan features a loan-to-value ratio of 71 percent. Real estate investor David Shemano was the borrower.

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AcquisitionsHealthcareMichiganMidwest

Cushman & Wakefield Arranges $2.6M Sale of Medical Office Asset in Warren, Michigan

by Kristin Harlow

WARREN, MICH. — Cushman & Wakefield has arranged the $2.6 million sale of the Regal Court medical office property in Warren, a suburb just north of Detroit. The property includes two buildings totaling 40,181 square feet. The anchor tenant is Ascension, which occupies 41 percent. Gino Lollio, Scott Niedergang, Travis Ives and Garrett Keais of Cushman & Wakefield represented the seller, Promanas, an Ann Arbor-based commercial real estate private equity firm. The team also procured the local buyer, CMG Realty Group.

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DevelopmentIllinoisIndustrialMidwest

Invert Chicago Plans to Build 140-Acre Subsurface Business Complex

by Kristin Harlow

CHICAGO — The Invert Chicago LLC has unveiled plans to build Chicago’s first subsurface business complex on 140 acres on the city’s southeast side that was vacated decades ago by the steel industry. Over the course of 13 years, Invert will develop nearly 6 million net square feet of climate-controlled space 250 to 350 feet below the surface at 11118 S. Buffalo Ave. The project site currently functions as a marine, rail and truck terminal. Initial subsurface space is expected to be available for occupancy by 2024. Invert anticipates making a formal filing with the City of Chicago later this summer.

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IndianaIndustrialLeasing ActivityMidwest

Kroger Health Signs 57,317 SF Industrial Lease in Jeffersonville, Indiana

by Kristin Harlow

JEFFERSONVILLE, IND. — Kroger Health has signed a 57,317-square-foot industrial lease at 301 Logistics Ave. within River Ridge Commerce Center in Jeffersonville, just north of Louisville. Robert Walker and Stephan Gray of Cushman & Wakefield | Commercial Kentucky represented the landlord, Tratt Properties LLC. Walker, along with Doug Altemuehle of Newmark Cincinnati, represented Kroger Health, which is a division of The Kroger Co. The tenant expects to create 60 new jobs at the facility.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Brokers $5.3M Sale of Apartment Building in Chicago’s Logan Square

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the sale of a 23-unit apartment building in Chicago’s Logan Square neighborhood for $5.3 million. The property, located at 2865 W. Shakespeare Ave., was fully occupied at the time of sale. James Ziegler and Kyle Stengle of Marcus & Millichap marketed the property on behalf of the seller, JAB Real Estate. The duo also secured and represented the buyer, a limited liability company.

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IllinoisIndustrialLeasing ActivityMidwest

Global eParcel Solutions Inks 32,000 SF Industrial Lease in Metro Chicago

by Kristin Harlow

CAROL STREAM, ILL. — Global eParcel Solutions LLC has inked a 32,000-square-foot industrial lease at 835-845 Carol Court in Carol Stream. The company, which provides domestic and international shipping for e-commerce companies via trucking, sea freight and air freight, has expanded its space by 29,000 square feet through multiple leases over the past five years. The 32,000-square-foot space features seven exterior docks, two drive-in doors and 3,217 square feet of office space. The facility is located within Carol Point Business Center. Mason Hezner of Brown Commercial Group represented the tenant in the lease transaction. Al Caruana of Cushman & Wakefield represented the owner, MP Carol Point Business Center LLC.

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AcquisitionsMidwestOhioRetail

SVN Arranges Sale of 30,000 SF Retail Center in Ohio for $1.4M

by Kristin Harlow

MUNROE FALLS, OHIO — SVN Summit Commercial Real Estate Advisors has arranged the sale of Silver Valley Plaza in Munroe Falls, about 35 miles southeast of Cleveland. The sales price was $1.4 million. The 30,000-square-foot retail center sits on 4.1 acres at 265-297 N. Main St. The property was fully leased at the time of sale. Nichole Booker of SVN brokered the sale. Munroe Falls Center LLC, a Texas-based investment group, was the buyer.

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