Midwest

Ford Motor Co. to Invest $5B at Manufacturing Plants in Kentucky, Michigan

by John Nelson August 12, 2025

LOUISVILLE, KY. AND MARSHALL, MICH. — Automotive giant Ford Motor Co. (NYSE: F) will invest $2 billion at its Louisville Assembly Plant and $3 billion at its BlueOval Battery Park Michigan factory. Combined, the investment will create and secure approximately 4,000 jobs across both plants, as well as spur dozens of new U.S.-based suppliers, according to Ford. Ford’s investments will help the automaker deliver a suite of electric vehicles (EVs), beginning with a midsize, four-door electric pickup truck that will be assembled at its Louisville plant. Ford plans to launch domestic and international sales of the new trucks, which are expected to be priced starting at $30,000, in 2027. Jim Farley, president and CEO of Ford, says that the automaker will be the first in the country to make prismatic lithium iron phosphate (LFP) batteries, which are cobalt- and nickel-free and serve as the floor of the new EVs. Ford plans to begin manufacturing the new prismatic LFP batteries for the new electric truck at BlueOVal Battery Park Michigan next year. Located in Marshall, Mich., the factory is under construction, with the shell built out and mechanical, electrical and piping infrastructure underway. Ford says that the lithium LFP battery cell …

August 12, 2025

Development Indiana Midwest Multifamily Student Housing

Purdue Research Foundation, ACC Open 984-Bed Student Housing Community at Purdue University

by Kristin Harlow August 11, 2025

WEST LAFAYETTE, IND. — Purdue Research Foundation (PRF) and American Campus Communities (ACC) have opened 3rd & West, a 984-bed student housing development at Purdue University in West Lafayette. Located at the intersection of Third Street and McCormick Road, the complex rises five stories and totals 325,000 square feet. Units come in studio, one-bedroom, two-bedroom and four-bedroom configurations. Amenities include an entry plaza for community gatherings, dual courtyards, study lounges, private study rooms and a fitness center. The first students will move into the new housing at the start of the fall 2025 semester. A public-private partnership between PRF and ACC developed the project. SCB served as architect.

August 11, 2025

Development Midwest Missouri Multifamily

Midas Hospitality, Double Eagle Development Deliver 227-Unit Luxury Apartment Complex Near St. Louis

by Kristin Harlow August 11, 2025

ELLISVILLE, MO. — Midas Hospitality and Double Eagle Development have completed MILA Apartments, a 227-unit luxury apartment complex in the St. Louis suburb of Ellisville. The four-story project is situated on a 7-acre site at 15970 Manchester Road. MILA Apartments features eight floor plans for studio, one-, two- and three-bedroom apartments ranging in size from 552 to 1,363 square feet. Amenities include a courtyard, grills, a pool, turf lawns, bocce ball, mini golf, a fitness center, dog park and conference rooms. The property manager is 2B Residential. The project team included Rosemann & Associates as architect and MBG as general contractor. A Starbucks location fronts the property.

August 11, 2025

Leasing Activity Midwest Minnesota Office

Office Tenants Sign Leases Totaling Nearly 60,000 SF at LaSalle Plaza in Minneapolis

by Kristin Harlow August 11, 2025

MINNEAPOLIS — Tenants have signed leases totaling nearly 60,000 square feet at LaSalle Plaza, an office tower in downtown Minneapolis. Owner Hempel Real Estate has completed $10 million of improvements and upgrades in the last 18 months. The largest new lease is with Greiner Construction, which will move from Deluxe Plaza into 20,000 square feet on the second floor of LaSalle Plaza. In addition, Interstate Parking is moving into 6,300 square feet from Canadian Pacific. Relx, a data and information consulting company, leased 5,100 square feet; and Gems, a Target vendor, is moving into a 1,700-square-foot spec suite. Additionally, four existing tenants renewed their leases. These include Centerspace (7,000 square feet), Hershey (10,000 square feet), Henkel (6,000 square feet) and PACE Loan Group. PACE moved into LaSalle Plaza in 2024 and expanded its lease by nearly 3,000 square feet, now occupying 6,500 square feet. Totaling 650,000 square feet, LaSalle Plaza offers an amenity package called The LaSalle Club, which includes an exclusive tenant lounge on the fourth floor and a fitness center with a sauna, cold plunge, fitness studio and pickleball court. The property also features a Grey Fox coffee shop; two fast-casual restaurants, Green and the Grain and Bep; …

August 11, 2025

Civic Development Midwest Minnesota

Opus Completes $12M Aquatic Center for Saint Thomas Academy, Visitation School in Minnesota

by Kristin Harlow August 11, 2025

MENDOTA HEIGHTS, MINN. — Opus has completed the STA/Vis Michel Family Aquatic Center in the Minneapolis suburb of Mendota Heights. The $12 million facility on the campus of Saint Thomas Academy is home to the swim and dive teams of both Saint Thomas Academy and Visitation School, which collectively have more than 40 state swim and dive championships. Chip Michel is co-chair of the capital campaign for the facility and title donor, along with his wife Mary. The Michels contributed $6 million toward the project, representing the largest gift in the history of both schools. The aquatic center received more than 1,000 donors. New Jersey-based Fabiano Designs designed the project, which involved the demolition of the previous pool in April 2024. The new 17,000-square-foot facility includes a 25-yard short course with competition pool with eight lanes, a diving board, bleacher seating for 350, an observation deck, exposed wood ceiling and new locker rooms. The center will also serve local swim clubs and Catholic Athletic Association schools. During the school day, the pool will be used for curriculum-based initiatives.

August 11, 2025

Acquisitions Development Kansas Midwest Restaurant Retail

Block & Co. Sells Two Retail Buildings in Suburban Kansas City Slated for Redevelopment

by Kristin Harlow August 11, 2025

MERRIAM, KAN. — Block & Co. Inc. Realtors has sold a Chipotle-occupied restaurant property and a Shell convenience store building in Merriam, a southwest suburb of Kansas City. The assets are located on the northeast quadrant of I-35 and Shawnee Mission Parkway. The two buildings were both managed and sold by a Block & Co.-headed investment group to a buyer affiliated with Drake Development to be part of a larger redevelopment project on the north side of Shawnee Mission Parkway. David Block represented the seller.

August 11, 2025

Development Michigan Midwest Multifamily Seniors Housing

Lockwood Senior Living Opens $46M Community in Hartland, Michigan

by Kristin Harlow August 8, 2025

HARTLAND, MICH. — Lockwood Cos. has opened Lockwood of Hartland, a 146-unit senior living community in Hartland, about 50 miles northwest of Detroit. The $46 million project offers one- and two-bedroom independent living apartments, all with private patios or balconies. Sixty-one of the units are designated as affordable housing. The property is situated on 17 wooded acres with nature trails. Amenities include chef-prepared meals, a fitness room, life enrichment programs, a barber shop, beauty salon and theater.

August 8, 2025

Development Industrial Michigan Midwest Self-Storage

Inland, Devon Complete 767-Unit Self-Storage Conversion Project in Southfield, Michigan

by Kristin Harlow August 8, 2025

SOUTHFIELD, MICH. — Inland Real Estate Investment Corp. and Devon Self Storage have completed a 77,600-square-foot self-storage facility in the Detroit suburb of Southfield. The project involved the conversion of an office building into a four-story, climate-controlled self-storage facility with 767 units, a 24-hour security system and covered loading area. The property is located at 24700 Northwestern Highway near I-696. Devon is a member of The Inland Real Estate Group of Cos. Inc.

August 8, 2025

Acquisitions Midwest

Marcus & Millichap Brokers $17.4M Sale of Industrial Building in Wheeling, Illinois

by Kristin Harlow August 8, 2025

WHEELING, ILL. — Marcus & Millichap has brokered the $17.4 million sale of a 96,712-square-foot industrial building in the Chicago suburb of Wheeling. The property is situated on 9.5 acres at 199 Shepard Ave. Anchor tenants include JV Global Services, Ready Set Gourmet, GFS Transport and Aargus Plastics. The asset features cold storage, industrial outdoor storage, rail access and proximity to I-294 and the Chicago O’Hare International Airport. The sale includes a partial leaseback with JV Global Services and a pending 14,796-square-foot, build-to-suit cold storage facility for Ready Set Gourmet. Zach Orzel, Adam Abushgur and Tyler Sharp of Marcus & Millichap represented the seller, JV Global Services LLC. Sharp, Abushagur and Clayton Isacson procured the buyer, Prairie Hill Holdings. Frank Montalto and Ethan Splan of IPA Capital Markets, a division of Marcus & Millichap, arranged $11.4 million in financing. The five-year loan features a 65 percent loan-to-value ratio and 12 months of interest-only payments at 6.4 percent followed by a 25-year amortization period.

August 8, 2025

Acquisitions Loans Midwest Missouri Multifamily

Gantry Arranges $11.5M Acquisition Loan for Kansas City Multifamily Property

by Kristin Harlow August 8, 2025

KANSAS CITY, MO. — Gantry has arranged an $11.5 million loan for the acquisition of The Life at Highland Village multifamily property in Kansas City’s Lewis Heights neighborhood. The 200-unit garden-style community includes 11 buildings with a mix of one- and two-bedroom floor plans. Most units feature recent appliance upgrades and new finishes. Amenities include a grass-covered open space, pool, playground and dog park. Mark Reichter and Alex Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. An insurance company lender provided the three-year, fixed-rate loan, which features an upfront interest-only period followed by a 30-year amortization.

August 8, 2025

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