Tuesday, June 16, 2026
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Midwest

IllinoisLeasing ActivityMidwestOffice

RSM Expands Office Lease at Chicago’s CME Center

by Kristin Harlow

CHICAGO — Audit, tax and consulting firm RSM has expanded its footprint to 165,323 square feet within CME Center in Chicago. The property, located on South Wacker, is now 95 percent occupied. CME Center consists of two 40-story office towers connected by a 10-story center structure. The property totals 2.3 million square feet. Completed in phases during the 1980s, the asset was recently redeveloped with redesigned lobbies and common area enhancements. Tishman Speyer owns the property. Joe Gordon and Justin Lewis of Tishman Speyer represented ownership in the lease transaction with RSM. Rick Schuham of Savills represented RSM, which has 10,000 employees in 86 offices across the United States.

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AcquisitionsIllinoisIndustrialMidwest

Avison Young Negotiates Sale of 182,298 SF Industrial Portfolio in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Avison Young has negotiated the sale of a 182,298-square-foot industrial portfolio in Mount Prospect for an undisclosed price. The two-building portfolio was 90 percent leased at the time of sale. The properties are situated on 8.2 acres at 1900-2000 Carboy Drive. Erik Foster, Mike Wilson, Chris Lydon and Chris Tecu of Avison Young represented the owner, Brennan Investment Group. San Francisco-based Glen Una Management Co. purchased the buildings.

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DevelopmentIllinoisMidwestMultifamilySeniors Housing

Skender Breaks Ground on 60-Unit Affordable Seniors Housing Community in Crystal Lake, Illinois

by Kristin Harlow

CRYSTAL LAKE, Ill. — Skender has broken ground on Residences of Crystal Lake, an independent living community in Crystal Lake, approximately 45 miles northwest of Chicago. Turnstone Development is leading the project. The three-story, 63,000-square-foot facility will offer 60 affordable units for seniors, and includes 5 ADA-accessible units, 12 adaptable units and two sensory units. Other project partners include design firm UrbanWorks, civil engineering firm GroundWork Ltd. and owner’s representative DKI Inc. The community is scheduled for completion in March 2020.

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AcquisitionsMidwestMinnesotaRetail

Silver Group Brokers Sale of Dunkin’ Donuts-Occupied Building in Richfield, Minnesota

by Kristin Harlow

RICHFIELD, MINN. — The Silver Group has brokered the sale of a single-tenant retail building occupied by Dunkin’ Donuts in Richfield, a suburb of Minneapolis. The sales price was not disclosed. The newly constructed, 2,000-square-foot building includes a drive-through window and outdoor seating. Dunkin’ has a 15-year lease. The Silver Group represented the seller, a local developer. Amy Senn of Newmark Knight Frank represented the buyer, which completed a 1031 tax-deferred exchange. The Richfield location is one of six standalone Dunkin’ stores in the Twin Cities.

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AcquisitionsIndustrialMichiganMidwest

Morning Calm Management Acquires Nine-Property Industrial Portfolio in Metro Detroit for $83.7M

by Alex Tostado

DETROIT — Morning Calm Management has acquired a nine-property industrial portfolio in metro Detroit for $83.7 million. Promanas Group sold the portfolio, which totals approximately 1.5 million square feet. The assets are located within Livonia, Auburn Hills, Redford, Saline, Lake Orion and Macomb Township. Tom Oldham and Dan Labes of Newmark Knight Frank oversaw the transaction.

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DevelopmentHospitalityMidwestMissouri

HDA Architects, JNS Architects Design $45M AC Hotel in St. Louis

by Alex Tostado

ST. LOUIS — HDA Architects and JNS Architects have completed the design of a new $45 million AC Hotel in the Central West End of St. Louis. The seven-story building will have 192 guest rooms. The project will be situated near the BJC Institute of Health at Washington University. The development team includes Koplar Properties, Concord Hospitality Enterprises and Homebase Partners. MC Hotel Construction is the general contractor. Construction is scheduled to commence this summer.

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DevelopmentMidwestNorth DakotaRetail

Kraus-Anderson Completes Construction of Hornbacher’s Grocery Store in West Fargo

by Alex Tostado

WEST FARGO, N.D. — Kraus-Anderson has completed construction of a new Hornbacher’s grocery store in West Fargo. Located at I-94 and Sheyenne Street, the 61,000-square-foot property features an in-store pharmacy, Caribou Coffee and a 3,458-square-foot wine and spirits store. A seating mezzanine area overlooks the sales floor, which includes fresh produce, sushi, a deli, bakery, meat department, flower shop, popcorn shop and juicery. Hornbacher’s operates in Fargo and Moorhead, Minn. Its first store opened in Moorhead in 1951. The West Fargo store is the company’s eighth location.

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AcquisitionsMidwestMissouriRetail

Cushman & Wakefield Brokers Sale of 306,367 SF Shopping Center in Suburban St. Louis

by Alex Tostado

ST. CHARLES, MO. — Cushman & Wakefield has brokered the sale of Mark Twain Village in St. Charles for an undisclosed price. The shopping center spans 306,367 square feet and is anchored by a free-standing Bass Pro Shops. At the time of sale, the property was 98 percent occupied. Tenants include Aldi, Duluth Trading Co., Buffalo Wild Wings, Gordman’s and a free-standing Texas Roadhouse. Evan Halkias, Michael Marks, Mark Gilbert, Kyle Pershing and David Wirth of Cushman & Wakefield represented the seller. Buyer and seller information was not disclosed.

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AcquisitionsIowaMidwestRetail

Hanley Investment Group Arranges Sale of Two-Tenant Retail Building in Sioux City, Iowa

by Alex Tostado

SIOUX CITY, IOWA — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Sioux City for an undisclosed price. Starbucks and Qdoba Mexican Eats occupy the property. The 5,002-square-foot building sits on a one-acre lot. Jeff Lefko and Bill Asher of Hanley represented the seller, N3 Real Estate. A family trust based in Orange County, Calif. purchased the asset. The cap rate was 6.3 percent.

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AcquisitionsIndustrialMidwestOhio

ICP Acquires 1.4 MSF Former Kmart Distribution Center in Warren, Ohio

by Jeff Shaw

WARREN, OHIO — Industrial Commercial Properties LLC (ICP) has acquired a 1.4 million-square-foot former Kmart distribution center in Warren in northeastern Ohio. The purchase price was not disclosed. The property is located at 541 Perkins Jones Road. ICP is working with three tenants to take occupancy of a portion of the building, according to Chris Salata, COO. This is ICP’s fifth acquisition of a Sears or Kmart facility. The company most recently acquired a former Sears distribution center in Groveport, Ohio.

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