KANSAS CITY, MO. — Bow River Capital, a Denver-based alternative asset management firm, has acquired Brookside Commons in Kansas City. Located near the Country Club Plaza, the 212-unit multifamily community was built in 2023. The transaction, which marks Bow Capital’s third multifamily acquisition in the Kansas City market, was completed at more than a 24 percent discount on today’s replacement cost. Berkadia originated acquisition financing through Fannie Mae. The seller and sales price were not provided.
CHICAGO — The Boulder Group has arranged the $3.3 million sale of a single-tenant, net-leased Chick-fil-A property at 11301 S. Corliss Ave. in Chicago. The newly constructed building, which features a drive-thru, is operating under a 15-year ground lease with 10 percent rental escalations every five years and eight five-year renewal options. The property is positioned directly west of I-94 and at the southeast corner of the newly revitalized Pullman Park development. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a real estate developer in Chicago. The buyer was a local private investor. Today, there are nearly 3,000 Chick-fil-A locations across 48 states, Canada and Puerto Rico.
By Andrew Jacob, Colliers The Cincinnati/Northern Kentucky industrial market demonstrated notable resilience in the second quarter of 2025, balancing strong long-term fundamentals with cautious short-term sentiment. Amid national headlines of slowing industrial demand and heightened uncertainty, the region continues to distinguish itself with a combination of strategic location, steady demand and disciplined development. Market fundamentals At the close of the second quarter, the market’s total inventory stood at approximately 293.6 million square feet, supported by a healthy vacancy rate of 5.2 percent, which remains below the national average of 7.1 percent. Bulk warehouse asking rates have remained relatively steady at $5.95 per square foot, reflecting a market rebalancing after several years of oversupply from robust development activity. In contrast, flex space asking rates continue to climb, now averaging $8.11 per square foot. This upward pressure is fueled by a scarcity of new supply — driven by land constraints and elevated construction costs. The market recorded 539,000 square feet of positive net absorption in the second quarter, bringing the year-to-date total to over 1 million square feet. This consistent absorption highlights enduring occupier demand despite broader caution in the national market. New construction activity continued at a measured pace, with 2 …
SKOKIE, ILL. — A joint venture between Wingspan Development Group and Tucker Development has delivered the first rental townhomes at The Henry at Harms Woods, a 294-unit multifamily property in Skokie. Located next to Life Time Fitness and near Westfield Old Orchard mall just west of I-94, the 11-acre development will include 245 apartment units, 49 rental townhomes and approximately 13,000 square feet of commercial space. First move-ins for the townhomes start this month, with the balance slated for this fall. Designed by HKM Architects + Planners and built by Nicholas & Associates, The Henry at Harms Woods will offer studio, one-, two- and three-bedroom luxury apartment units and three- and four-bedroom townhomes. The four-bedroom Maple and Oak floor plans, which span approximately 2,500 square feet, start at $6,800 per month. Amenities include expansive courtyards, an outdoor pool, fitness center and work-from-home stations.
KANSAS CITY, MO. — Berkadia has arranged the sale of The Locarno, a 110-unit multifamily property in downtown Kansas City. Located at 235 Ward Parkway, the high-rise asset features views of Country Club Plaza and Brush Creek. The property was built in 1928 and renovated in the mid-1980s. Michael Spero, Niko Vrentas and Simon Rodewald of Berkadia represented the seller, Locarno Partners LLC. The asset sold to ELKCO Properties in joint venture with Leale Capital. Both companies are based in Denver.
MARINETTE, WIS. — Marcus & Millichap has brokered the $7.3 million sale of Dunlap Square, a multifamily and office building in Marinette, a city in northeast Wisconsin. Built in 1920 and located at 1655 Ludington St., the property features 97 apartment units and 21 office suites. Dan Bowar of Marcus & Millichap represented the seller, Three Sixty Real Estate Solutions, and procured the buyer, Ruesch Management Inc. The buyer plans to renovate the unoccupied street-level retail space.
VERNON HILLS, ILL. — The Nicholas Family of Cos. has acquired Glacier Ice Arena, a 63,000-square-foot indoor ice arena with two NHL-regulation rinks in the Chicago suburb of Vernon Hills. Nicholas will own and manage the hockey and ice skating rink and will commence large-scale renovations later this year. Nicholas Family’s portfolio of ice rink facilities includes Mount Prospect Ice Arena at Nicholas Sportsplex in Mount Prospect; Rosemont Ice Arena, which is set to open this month in Rosemont; and Elk Grove Ice Arena, which is scheduled to begin construction this month. All will be operated by the company’s internal sports and recreation firm Spectate Group. Glacier Ice Arena is affiliated with Ice Dogs Hockey Club and serves as the primary venue for the Ice Dogs Hockey Association, which is home to roughly 15 teams. There is potential for Nicholas Family’s integrated hospitality company, Big Fish Hospitality Group, to be incorporated into future phases of planning following the acquisition. Glacier currently has 10 locker rooms, study rooms, party and meeting rooms, a snack bar and video game room.
BUCKNER, MO. — Fun Town RV has secured its second Kansas City-area location at 29906 US 24 Highway in Buckner. The company is the official RV dealer of the Dallas Cowboys. Fun Town RV will occupy a 13,037-square-foot building comprising a 3,000-square-foot office and 10,037-square-foot warehouse. The lease marks the company’s 33rd location, joining properties in Texas, Illinois, Michigan, Oklahoma and Arkansas. Bill Maas of Block & Co. Inc. Realtors represented the seller of the Buckner property.
HOFFMAN ESTATES, ILL. — Claire’s U.S., the operator of Claire’s and Icing stores across the United States, has filed for Chapter 11 bankruptcy protection in Delaware. The jewelry retailer listed both its liabilities and assets between $1 billion to $10 billion. Hoffman Estates-based Claire’s previously filed for Chapter 11 bankruptcy in 2018. Claire’s says that the proceedings will enable the company to immediately commence the monetization process for its assets to maximize value for the business. The retailer is continuing a comprehensive review of strategic alternatives, including discussions with potential partners that began prior to the filings. “This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” says Chris Cramer, CEO of Claire’s. Claire’s retail stores in North America will remain open and continue to serve customers. However, in its bankruptcy filings the retailer noted 18 Claire’s and Icing stores that “should be exited” and is requesting the approval of store closing sales. These include: Claire’s U.S. intends to seek approval for a consensual use of cash collateral to …
DES MOINES, IOWA — CBRE has brokered the sale of the Wings 914 Portfolio, a collection of six multifamily properties totaling 1,610 units in metro Des Moines. The transaction marks the largest multifamily deal ever recorded in the state of Iowa, according to CBRE. Cy Fox, Matt Bukhshstaber, Ray Hamilton and Clark Matthews of CBRE represented the undisclosed seller, which directed a significant portion of the assets to charitable causes through the National Christian Foundation. The properties were built between 1988 and 2015. Further details were not provided.