Friday, May 22, 2026
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IllinoisIndustrialLeasing ActivityMidwest

AKIRA Signs 202,105 SF Industrial Lease Extension in Metro Chicago

by Kristin Harlow

BOLINGBROOK, ILL. — Chicago-based fashion retailer AKIRA has signed a long-term lease extension for 202,105 square feet of warehouse space at 150 E. Crossroads Parkway, Unit A, in Bolingbrook. Dan Leahy and Dan O’Neill of NAI Hiffman represented the tenant. Since its founding in 2002, AKIRA has grown from a single boutique into 40 stores across multiple states along with an e-commerce platform. In late 2024, NAI Hiffman was engaged to conduct a comprehensive market assessment of industrial warehouse opportunities throughout the Midwest ahead of AKIRA’s lease expiration. The evaluation process included market surveys, ownership outreach, financial modeling and operational logistics analysis. Prologis owns the property.

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AcquisitionsIndianaIndustrialMidwest

Colliers Negotiates Sale of 149,012 SF Industrial Portfolio in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Colliers has negotiated the sale of Georgetown Commerce Park, a two-building light industrial portfolio totaling 149,012 square feet in Indianapolis. The properties are situated within the Park 100 industrial park and feature clear heights ranging from 16 to 20 feet, 25 dock doors, 23 drive-in doors and 337 parking spaces. At the time of sale, the portfolio was 95.6 percent occupied by 21 tenants. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Tyler Wilson and Sydney Gabriel of Colliers represented the undisclosed seller. The buyer was Blue Ridge Industrial LLC, a Dallas-based private equity firm.

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AcquisitionsMidwestOhioRetail

Cooper Group Arranges Sale of Multi-Tenant Retail Center in Washington Court House, Ohio

by Kristin Harlow

WASHINGTON COURT HOUSE, OHIO — The Cooper Commercial Investment Group has brokered the sale of Fayette Square, a multi-tenant retail center in Washington Court House, about 50 miles east of Dayton. The property is fully leased and shadow anchored by Walmart Supercenter. Dan Cooper of Cooper Group represented the seller, a Texas-based investment group. The asset sold to a Kentucky-based buyer at a cap rate of 8 percent.

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21-West-End-Avenue-Manhattan
LoansMultifamilyNew YorkNortheast

Dermot Co. Receives $355M Loan for Refinancing of Upper Manhattan Apartment Tower

by Taylor Williams

NEW YORK CITY — The Dermot Co., a locally based owner-operator, has received a $355 million loan for the refinancing of 21 West End Avenue, a 616-unit apartment tower on Manhattan’s Upper West Side. Dermot completed the 48-story building, which includes 127 affordable housing units, in 2016. Residences come in studio, one-, two- and three-bedroom floor plans, and amenities include an indoor pool, fitness center, resident lounge, game room, rooftop terrace, children’s playroom and a pet run. Mizuho Americas provided the financing, specific terms of which were not disclosed.

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Pennant-Park_Atlanta
GeorgiaLeasing ActivityOfficeSoutheast

Two Tenants Join Pennant Park Office Campus Near Atlanta Braves Stadium

by Abby Cox

ATLANTA — Two tenant have joined the tenant roster at Pennant Park, a six-building, 763,465-square-foot office complex located adjacent to The Battery Atlanta, the mixed-use village surrounding Truist Park, the home ballpark of the Atlanta Braves. Chattanooga College, a for-profit post-secondary institution, has signed an 11-year lease for 27,000 square feet, while parking garage operator LAZ Parking has signed a 10-year, 5,700-square-foot office lease that will serve as its regional headquarters. Both tenants will occupy space in the 360 Building at Pennant Park. Atlanta Braves Holdings Inc. — owner and operator of the Atlanta Braves MLB team, the Battery Atlanta mixed-use development and Truist Park — purchased Pennant Park in April 2025. 

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AcquisitionsHealthcareMassachusettsNortheast

JLL Income Property Trust Buys Metro Boston Healthcare Property for $32M

by Taylor Williams

WATERTOWN, MASS. — JLL Income Property Trust has purchased West Boston Medical Center, a 53,000-square-foot healthcare property located on the western outskirts of the state capital, for $32 million. The 53,000-square-foot building was fully leased at the time of sale to a single provider that recently signed a new 15-year lease. Specialty practices housed within the facility include internal medicine, pediatrics, female reproductive health, radiology, physical therapy and dermatology. The seller was not disclosed.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Negotiates $10.7M Sale of Retail Strip Center in North Reading, Massachusetts

by Taylor Williams

NORTH READING, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $10.7 million sale of a retail strip center in North Reading, about 20 miles north of Boston. CVS anchors the center at 18-20 Main St., which totals 46,738 square feet, with a 13,225-square-foot store. Justin Smith, Chris Peterson, Danielle Turpin and John Dixon of Atlantic Capital Partners represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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Leasing ActivityNew YorkNortheastOffice

Latham & Watkins Signs 131,000 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Latham & Watkins has signed an 11-year 131,000-square-foot office lease expansion in Midtown Manhattan. The law firm now occupies 251,000 square feet at 1285 Avenue of the Americas. Scott Gamber, Craig Reicher and Emily Chabrier of CBRE represented the tenant in the lease negotiations. Robert Alexander, Ryan Alexander, Taylor Callaghan, Alexander Benisatto and Walter Graham of CBRE, along with Patrick Murphy of JLL and internal agents William Elder and Daniel Birney, represented the landlord, RXR.

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Villano-Pull-Quote
CaliforniaCompany NewsConnecticutIndustrialNortheastTop StoriesWestern

Sachem Capital, IRG Enter Into Agreement to Create $3.4B Industrial REIT

by Taylor Williams

BRANFORD, CONN. AND LOS ANGELES — Sachem Capital Corp. (NYSE: SACH), a Connecticut-based real estate finance company, and Los Angeles-based Industrial Realty Group (IRG) have entered into a definitive contribution agreement to form a new industrial REIT with a market value of $3.4 billion. The deal is expected to close by the end of the year. Under the terms of the agreement, IRG will contribute 98 industrial properties from its portfolio of 200 assets to Sachem. Once complete, the newly formed company will operate as IRG Realty Trust Inc. (IRGT) and is expected to have an industrial portfolio with a gross real estate asset value of $2.9 billion. In addition, the new company will carry Sachem’s approximately $470 million (as of March 31, 2026) in direct and indirect mortgage loans, investments in developmental and owned real estate and other assets. The transaction values Sachem’s common shares at $2 per share, representing a 90 percent premium to the company’s 30‑day volume weighted average price. Upon closing, IRGT Inc. will focus on mission‑critical industrial infrastructure that supports manufacturing and distribution users. Assets that are not being contributed will continue to be owned and operated by IRG’s existing private business. “This accretive transaction …

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Market ReportsMarylandRestaurantRetailSoutheastSoutheast Market Reports

Retail Leasing, Development Activity ‘Slow and Steady’ in Baltimore Market

by John Nelson

Mirroring conditions nationally due to elevated interest rates, associated higher construction costs and general economic and geopolitical uncertainties, the volume of retail leasing and new development activity remains “slow and steady” in the greater Baltimore metropolitan region.  The collective business and real estate communities remain optimistic for a rebound later this year, given the robust fundamentals that remain constant locally and the lessons learned during a tepid first-quarter 2025, which was followed by an over-performing remainder of the year. We expect the same to occur in 2026, with robust third and fourth quarters on the horizon later this year. Interest rate complexities  Although interest rates have declined somewhat over the past year, the continued elevated climate has made all phases of the retail industry more expensive and forced developers and retailers to take a brief pause or to dig deeper for projected returns. More specifically, this has placed a halt on the future development of several new shopping centers in the Baltimore area due to higher financing costs, and multiple local retailers are also rethinking expansion plans because of steeper Small Business Administration and local banking loans.  Separate retail centers in Harford and Howard counties — after being designed and …

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