Saturday, February 7, 2026
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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $12.7M Sale of Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of an apartment building located at 2827-2847 N. Clybourn Ave. in Chicago’s West Lakeview neighborhood for $12.7 million. The property features 30 apartment units and six commercial spaces. The residential portion was more than 95 percent occupied at the time of sale. The building features a heated indoor parking garage for 34 vehicles and an additional 12 exterior spaces for the commercial units. Brad Feldman of Interra represented the seller, a private local investor. Patrick Kennelly and Paul Waterloo of Interra represented the buyer, also a local investor. The buyer assumed the asset’s existing mortgage, which carries a 3 percent interest rate.

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Leasing ActivityMichiganMidwestRetail

Burlington to Open at Oakland Square Shopping Center in Troy, Michigan

by Kristin Harlow

TROY, MICH. — Burlington Stores Inc. has signed a lease to open a new store at Oakland Square in Troy. Continental Realty Corp. (CRC) owns the 220,000-square-foot shopping center. Burlington joins HomeGoods, Five Below, Kohl’s and Ulta as anchor tenants at the center, which is now 83 percent leased. Rachel Lee of CRC and Daniel Stern, Jared Gell, Eric Unatin and Eric Birnholtz of Mid-America Real Estate represented the landlord. Bradley Gershman of Gershman Partners and Andrew Luckoff of Landmark Commercial Real Estate Services represented the tenant. Burlington currently operates eight stores in the northwest Detroit area, including Bloomfield Township, Rochester Hills, Southfield and Sterling Heights. Baltimore-based CRC acquired Oakland Square together with the adjacent Oakland Plaza in 2021. Built in 1986 with additional construction completed in 1997, Oakland Square consists of three buildings.

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Affordable HousingIllinoisLoansMidwestMultifamily

BWE Provides $8.3M Acquisition Loan for Affordable Housing Property in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — BWE has provided an $8.3 million Fannie Mae loan for the acquisition of Brookstone Apartments in the Chicago suburb of Waukegan. Built in 1986, the garden-style affordable housing property features 168 units across four buildings. Of the total units, 50 are reserved for residents earning up to 50 percent of the area median income (AMI) and 110 are designated for residents earning up to 60 percent of AMI. Adam Gould of BWE originated the 10-year loan, which features 36 months of interest-only payments and a 30-year amortization secured by a first lien.

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AcquisitionsIllinoisIndustrialMidwest

Phoenix Closures Sells 113,124 SF Industrial Building in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Phoenix Closures Inc. has sold its former corporate headquarters and manufacturing facility located at 1899 Highgrove Lane in the Chicago suburb of Naperville. The buyer, Amerikoa Ingredients, is a natural and sustainable ingredients distributor that is relocating from Melrose Park. Built in the late 1970s, the 113,124-square-foot building features BNSF rail access. Jeff Blake of DarwinPW Realty/CORFAC International represented the seller, while Todd Heine of Colliers represented the buyer.

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Market ReportsMarylandMixed-UseRetailSoutheastSoutheast Market Reports

Adaptive Reuse Projects, Value-Oriented Concepts Star in Baltimore’s Retail Story

by John Nelson

Mirroring sentiments expressed at the year-end ICSC conference in New York City, with the national vacancy rate hovering around 5 percent and new concepts anxious to take a foothold in the area, there continues to be tremendous optimism for the retail sector in the greater Baltimore metropolitan region.  Although ground-up development projects remain rare locally, several high-profile adaptive projects are in the works that are placing smiles on brokers’ faces because they have something to lease. Value-oriented retailers, together with quick-service restaurant (QSR) concepts, are showing the most activity.  Adaptive reuse The redevelopment of the iconic Harborplace festival marketplace (more on that later) is grabbing all the headlines in Charm City, but the adaptive reuse of Baltimore’s Penn Station — the epitome of a transit-oriented development and the renovation of a historic industrial building at Riverside in South Baltimore — are happening now.  Beatty Development Group and Cross Street Partners are partnering with Amtrak to transform the train station originally developed in 1911 into a mixed-use project combining 1 million square feet of commercial office, retail and residential space. Destination retail and restaurants are a central core of the program. Urban Pastoral and The Wilhide Family are transforming the 135-year-old …

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DevelopmentGeorgiaIndustrialSoutheast

Brightmark to Develop $950M Recycling Facility in Central Georgia

by John Nelson

THOMASTON, GA. — Brightmark LLC, a recycling solutions company based in San Francisco, has announced plans for a $950 million recycling facility project in Thomaston, about 65 miles south of Atlanta. Upon completion, the “circularity center” will comprise 2.5 million square feet with the capacity to repurpose 400,000 tons of plastic per year. According to the company, the project will create 200 advanced manufacturing jobs in the central Georgia area. Plans include a $20 million investment in additive infrastructure in Thomaston, with upgrades to utilities, roadway improvements, rail access extensions and other improvements.

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Affordable HousingDevelopmentGeorgiaLife SciencesMixed-UseMultifamilySoutheast

Trammell Crow, GATV Complete Phase I of Mixed-Use Science Square Development in Atlanta

by John Nelson

ATLANTA — Trammell Crow Co. (TCC) and Georgia Advanced Technology Ventures (GATV) — an affiliate of the Georgia Institute of Technology (Georgia Tech) — have completed construction of the first phase of Science Square, a mixed-use development situated adjacent to the Georgia Tech campus in Atlanta. Comprising 18 acres, the development features Science Square Labs, a life science building, and The Grace, a 14-story residential tower. Perkins + Will designed Science Square Labs, which totals 368,258 square feet and features lab and clean-up space. The 13-story building features a 38,000-square-foot solar panel array on top of the parking garage and 22 electric vehicle charging stations. Amenities at the property include a fitness center, conference space and private meeting rooms, and a tenant lounge and event space dubbed The Commons that features a 16,000-square-foot sky deck on the fifth floor. Portal Innovations has signed a 33,000-square-foot lease as the first tenant at the property, which includes 33,136 square feet of pre-built speculative lab and office suites, as well as space for custom-built units. The Grace, designed by Rule Joy Trammell + Rubio, comprises 280 units with a mix of market-rate and affordable residences. Amenities include a bike room, club room, outdoor …

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DevelopmentIndustrialNorth CarolinaSoutheast

Johnson Brothers Breaks Ground on 625,000 SF Industrial Facility in Garner, North Carolina

by John Nelson

GARNER, N.C. — Johnson Brothers Mutual Distributing, a wine and beer distributor, has broken ground on a 625,000-square-foot industrial building in Garner, a southern suburb of Raleigh. Upon completion, the property will feature 40-foot clear heights with dock-high, drive-in doors and trailer parking. Johnson Brothers plans to relocate and occupy 420,000 square feet at the development in early 2026. Jim Allaire and Alexis Lambeth of Foundry Commercial will lease the remaining 205,000 square feet. LS3P designed the project, and Evans is the general contractor, with DCI serving as project manager.

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AcquisitionsFloridaHealthcareSoutheast

Marcus & Millichap Arranges $13.2M Sale of Medical Office Property in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — Marcus & Millichap has arranged the $13.2 million sale of a medical office property located at 13813 Metro Parkway in Fort Myers. Constructed in 2006, the building totals 38,404 square feet. Alex Sacks, Brett Rodgers and Frank Roti of Marcus & Millichap represented the seller, a private limited liability partnership, in the transaction. The buyer was also not disclosed.

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Leasing ActivityLouisianaRetailSoutheast

Three Abercrombie & Fitch Co. Concepts to Open at Lakeside Shopping Center in Metro New Orleans

by John Nelson

METAIRIE, LA. — Three new tenants, all divisions of Abercrombie & Fitch Co., will open at Lakeside Shopping Center, a 1.2 million-square-foot retail center located in Metairie, roughly eight miles outside of downtown New Orleans. Abercrombie & Fitch, abercrombie kids and Hollister Co. are scheduled to open at the property this summer. The stores will feature updated prototype formats for the respective brands. Abercrombie & Fitch Co. operates more than 750 stores under these banners throughout North America, Europe, Asia and the Middle East.

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