Friday, April 10, 2026
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Midwest

AcquisitionsMidwestMissouriRetail

Berengaria Acquires 226,000 SF Power Center in St. Joseph, Missouri

by Kristin Harlow

ST. JOSEPH, MO. — Berengaria has acquired The Shoppes at North Village, a 226,000-square-foot retail power center in St. Joseph, about 55 miles north of Kansas City. The purchase price was not disclosed. The 98 percent-leased property is home to 25 tenants, including TJ Maxx, Best Buy, Michaels, Old Navy and Regal Cinema’s Hollywood Theaters. Berengaria partnered with the Africk Family Office on the transaction. This is the third asset the two groups have purchased together. Berengaria is the real estate platform of Marcus Investments.

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AcquisitionsMidwestMissouriRetail

Love’s Travel Stops Purchases 20 Acres for its First Kansas City Location

by Kristin Harlow

KANSAS CITY, MO. — Love’s Travel Stops and Country Stores has purchased 20 acres from Hunt Midwest for its first Kansas City location. Love’s plans to build a 12,000-square-foot building, eight gas pumps, eight diesel bays and a Speedco service center. The property will have room for 80 cars, five RVs and 125 trucks. McDonald’s is expected to be the food concept. The property is expected to open in 2020.

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DevelopmentIndustrialMidwestMissouriOffice

L. Keeley Construction, HDA Architects Complete Corporate Headquarters for ADB Cos. in Missouri

by Kristin Harlow

PACIFIC, MO. — L. Keeley Construction and HDA Architects have completed a new corporate headquarters for ADB Cos. in Pacific, about 35 miles west of St. Louis. The project consists of a 36,852-square-foot office building and a 24,137-square-foot maintenance building. Features include exposed ceilings, concrete floors, wood-accent walls, a two-story lobby entrance and a lounge space. ADB Cos. provides solutions for the communications, utility and technology industries. ADB Cos. and L. Keeley Construction are part of St. Louis-based Keeley Cos.

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AcquisitionsIllinoisMidwestOffice

SVN | Chicago Commercial Brokers $5.3M Sale of Loft Office Building in Chicago’s Pilsen Neighborhood

by Kristin Harlow

CHICAGO — SVN | Chicago Commercial has brokered the sale of a 100,544-square-foot loft office building in Chicago’s Pilsen neighborhood for $5.3 million. The property is located at 2201 S. Halsted St. Angelo Labriola and Paul Cawthon of SVN represented the seller. Stephen Cusano and James Mead of SVN represented the buyer.

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DevelopmentIllinoisMidwestMixed-Use

Cullinan Properties Breaks Ground on Rock Run Crossings in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Cullinan Properties Ltd. has broken ground on Rock Run Crossings, a 265-acre mixed-use project in Joliet. Cullinan is underway on clearing the site and plans to begin construction late this spring. A groundbreaking ceremony took place on Friday, March 22. Cullinan has also revealed the first anchor tenant at Rock Run Crossings. The 16-screen Regal Cinemas movie theater will span 70,000 square feet. The developer plans to announce more tenants later this year.

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AcquisitionsHospitalityMichiganMidwest

L. Mason Capitani CORFAC International Brokers Sale of Historic Hotel Property in Detroit

by Kristin Harlow

DETROIT — L. Mason Capitani CORFAC International has brokered the sale of The Royal Palm/Park Avenue Hotel located at 2305 Park Ave. in Detroit. The sales price was not disclosed, but the asking price was $15 million. The 13-story, 180-room hotel was designed by Detroit architect Louis Kamper in 1925 and has been operational ever since. Downtown Hospitality Detroit LLC, which is owned by Mario Kiezi and Mike Abdulnoor, purchased the property. The buyers plan to fully restore the hotel and add two restaurants on the first floor as well as a rooftop bar. Completion of the project is slated for late 2020. Al Lafrate of L. Mason Capitani represented the buyer and the seller, Catharina Harrington, who had operated the hotel with her late husband Wilbur Harrington since 1967.

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DevelopmentHealthcareMidwestMinnesota

Kraus-Anderson Set to Break Ground on New Hospital Wing at Hutchinson Health in Minnesota

by Kristin Harlow

HUTCHINSON, MINN. — Kraus-Anderson is scheduled to break ground on a new hospital wing at Hutchinson Health in Minnesota on Monday, April 1. The one-year construction project will expand the hospital’s footprint by more than 17,000 square feet and will include 18 new patient rooms that are twice as big as the current rooms. Wold Architects and Engineers designed the expansion. Hutchinson Health, a part of HealthPartners, is located about 60 miles west of Minneapolis. The hospital currently has 66 beds and is classified as a Level 4 trauma center. It provides initial evaluation, stabilization, diagnostic capabilities and transfer to a higher level of care. A Level I trauma center offers the highest level of surgical care for trauma patients.

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LoansMidwestOhioRetail

Berkadia Arranges $19M Construction Loan for Retail Property in Strongsville, Ohio

by Kristin Harlow

STRONGSVILLE, OHIO — Berkadia has arranged a $19 million loan for Royalton Collection, a 74,000-square-foot retail development in Strongsville. HomeGoods will anchor the property, along with Panera Bread and Outback Steakhouse outparcels. Dan Geuther of Berkadia arranged the loan with CIBC Bank on behalf of the borrower, New York-based Somera Road Inc. The three-year loan represents a 73 percent loan-to-cost ratio.

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AcquisitionsMidwestMissouriRetail

QuikTrip Purchases Site for New Location in North Kansas City

by Kristin Harlow

NORTH KANSAS CITY, MO. — QuikTrip Corp. has purchased 2.9 acres at the southwest corner of I-35 and Amour Road in North Kansas City. QuikTrip plans to build a new facility at 1401 Armour Road to replace its existing store at 1010 Armour Road. Construction on the new store will begin soon and is a redevelopment of an old office building. David Block and Jody Minder of Block & Co. Inc. Realtors brokered the transaction.

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AcquisitionsCaliforniaFloridaIllinoisIndustrialMinnesotaTop StoriesWisconsin

WPT Industrial REIT Acquires U.S. Logistics Portfolio for $226M

by John Nelson

TORONTO — WPT Industrial Real Estate Investment Trust, a publicly traded company based in Toronto, has increased its U.S. holdings by agreeing to acquire a 13-property logistics portfolio for approximately US$226 million. The industrial buildings total 2.2 million square feet and are situated in infill submarkets across the United States. The property names and addresses were not disclosed, but WPT says the portfolio will increase its scale in Chicago, Milwaukee and Minneapolis. The portfolio also includes assets in three new markets for the REIT, including Los Angeles and Miami. Additionally, WPT has confirmed that eight of the assets are leased to a single tenant and the other five are leased to multiple tenants. “We are very pleased to source a high-quality portfolio acquisition that advances the REIT’s strategic priorities to add scale and diversification with a focus on markets and properties that have the greatest potential to drive long-term growth,” says Scott Frederiksen, CEO of WPT. WPT plans to fund the acquisition with cash on hand and proceeds from its senior unsecured credit facility. In anticipation of the purchase, WPT has received lender commitments to amend and extend the credit facility from US$300 million to $450 million. The REIT expects …

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