Tuesday, June 10, 2025
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IndustrialLoansMidwestOhioWalker & Dunlop

Walker & Dunlop Arranges $69.5M in Construction Financing for 1.3 MSF Industrial Project in Metro Columbus

by Kristin Harlow

MARYSVILLE, OHIO — Walker & Dunlop has arranged $69.5 million in construction financing for a 1.3 million-square-foot industrial facility in the Columbus suburb of Marysville. The property is a build-to-suit for Scotts Lawn Care, a full-service landscaping company specializing in commercial and residential lawn services. The project site at 12575 Industrial Parkway is minutes away from Scotts’ national headquarters. Chad Kiner and AJ Mangan of Walker & Dunlop arranged the financing on behalf of the developer, Crawford Hoying. Centennial Bank was the lender.

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DevelopmentHospitalityMidwestMissouri

Midas Completes $47M Residence Inn by Marriott Hotel in Clayton, Missouri

by Kristin Harlow

CLAYTON, MO. — Midas Enterprises has completed a $47 million Residence Inn by Marriott hotel in the St. Louis suburb of Clayton. The project is the first new hotel to open in the city in 30 years, according to Midas. The extended-stay hotel rises 12 stories with 170 rooms. The development includes a second-floor lounge and ballrooms, 3,300 square feet of second-level meeting space with an outdoor terrace and bar, complimentary breakfast, a 1,500-square-foot fitness center and guest laundry. Investors included Hermann Cos. and Peoples Bank. The project team included SSC Engineering, CECO Concrete Construction Inc. and Castle Contracting LLC. Midas deployed all four of its divisions — Midas Capital, Midas Construction, Midas Hospitality and Midas Development — to complete the project.

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DevelopmentIndustrialMidwestMissouri

Hillman Opens 305,000 SF Distribution Center in Belton, Missouri

by Kristin Harlow

BELTON, MO. — Hillman Solutions Corp., a provider of hardware products and merchandising solutions, has opened a new 305,000-square-foot distribution center in Belton, a southern suburb of Kansas City. The Cincinnati-based company is relocating from a facility in Rialto, Calif. Doug Cahill, chairman, president and CEO of Hillman, says having a distribution center located in the Kansas City area will be optimal for logistics because 85 percent of the U.S. population can be reached in one to two business days by truck.

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AcquisitionsRetailSouth CarolinaSoutheast

Marcus & Millichap Brokers $7.1M Sale of Shopping Center in Lexington, South Carolina

by John Nelson

LEXINGTON, S.C. — Marcus & Millichap has brokered the $7.1 million sale of Lexington Town Square, a 75,763-square-foot shopping center located at 712 W. Main St. in Lexington, a suburb of Columbia. Andrew Margulies and Harrison Creason of Marcus & Millichap represented the seller and secured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. Ben Yelm, Marcus & Millichap’s South Carolina broker of record, assisted in closing the transaction. Lexington Town Square was leased to 11 tenants at the time of sale including anchors Food Lion and Badcock Furniture, as well as H&R Block, RF’s Grill, Cricket Wireless and Musician’s Supply, among others.

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LoansMixed-UseNew YorkNortheast

Ariel Property Advisors Arranges $13.5M Acquisition Loan for Manhattan Mixed-Use Buildings

by Taylor Williams

NEW YORK CITY — Locally based brokerage and financial advisory firm Ariel Property Partners has arranged a $13.5 million acquisition loan for three mixed-use buildings in Manhattan’s Hell’s Kitchen neighborhood. The addresses and specific uses of the buildings were not disclosed. Matthew Dzbanek, Matt Swerdlow and Drew Chartash of Ariel Property Advisors arranged the five-year loan, which carried a fixed interest rate of 6.5 percent, a 30-year amortization schedule and two years of interest-only payments. The borrower was also not disclosed.

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IllinoisLoansMidwestMultifamilySeniors Housing

Greystone Provides $13.7M HUD-Insured Loan for Refinancing of Supportive Living Facility in Crestwood, Illinois

by Kristin Harlow

CRESTWOOD, ILL. — Greystone has provided a $13.7 million HUD-insured loan for the refinancing of The Pointe at Kilpatrick in Crestwood, about 24 miles southwest of Chicago. Built in 2003, the 122-bed supportive living facility features amenities such as a community room, living room, therapy room, barber shop, courtyard, children’s play area, private dining room and resident laundry rooms. Eric Rosenstock of Greystone originated the financing on behalf of the undisclosed borrower. The fixed-rate loan features a 35-year term.

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AcquisitionsIndianaMidwestRestaurantRetail

Marcus & Millichap Brokers $3.2M Sale of Restaurant Property in Fort Wayne, Indiana

by Kristin Harlow

FORT WAYNE, IND. — Marcus & Millichap has brokered the $3.2 million sale of a 9,500-square-foot restaurant property occupied by Biaggi’s Ristorante Italiano in Fort Wayne. The freestanding, net-leased building is located at 4010 W. Jefferson Blvd. It was constructed as a build-to-suit for the restaurant in 2001. Damien Yoder and Madison Harman of Marcus & Millichap’s Yoder-Harman Group represented the seller, a California-based family trust. An in-state lender provided acquisition financing on behalf of the buyer, an Indiana-based family office. Biaggi’s operates 16 restaurants in eight states. There are six years remaining on its lease at the Fort Wayne property.

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Leasing ActivityNew YorkNortheastOffice

PEI Group Signs 14,341 SF Office Lease at 530 Fifth Avenue in Manhattan

by Taylor Williams

NEW YORK CITY — PEI Group, a research and consulting firm for various investment vehicles, has signed a 10-year, 14,341-square-foot office lease at 530 Fifth Avenue in Manhattan. The tenant is relocating from 142 West 42nd Street to the 14th floor of the 535,000-square-foot building, which was originally constructed in 1957. John Ryan, Brooks Hauf and Patrick Steffens of Avison Young, along with internal agents William Elder, Andrew Ackerman and Walter Rooney, represented the landlord, RXR, in the lease negotiations. Joseph Gervino of Avison Young represented PEI Group.

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Farm-Haus-San-Antonio
FeaturesSingle-Family Rental

Amid Institutional Inertia, New Opportunities Arise for Smaller SFR Investors — If They Can Access Capital

by Taylor Williams

By Marcia Kaufman, CEO of Bayport Funding Heightened real estate investment activity in the single-family rental (SFR) market in recent years has resulted in limited supply and commensurate pricing elevations across the country. Today, institutional investors with portfolios exceeding 1,000 units own approximately 3 percent of the 14 million SFR properties nationwide, or roughly 420,000 homes. Per a recent analysis conducted by Stateline, the nonprofit news service of Pew Charitable Trusts, as of 2022, both institutional and non-institutional investors own approximately 25 percent of all single-family homes (SFHs). Statistics provided by Redfin shed further light on these figures. A record-breaking 80 percent increase in SFH investment activity occurred between 2020 and 2021 in conjunction with lower mortgage rates at that time. By contrast, 2023’s combination of a cooling market, high interest rates, increasing prices and recession fears are leading many of the nation’s larger institutional investors — many of whom purchased during the pandemic — to offload their inventory with an urgency not seen in decades. This is resulting in opportunities for individual investors to build their SFR portfolios at a time in which demand is particularly high. The climate for growing an SFR portfolio is made more auspicious when …

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One-West-Village-Dallas
Market ReportsOfficeTexasTexas Market Reports

Texas Office Owners Shift Priorities from Maximizing Rent to Showcasing Occupancy, Vibrancy

by Taylor Williams

By Taylor Williams Office owners have spent the last two-plus years undertaking every creative measure they can fathom — and afford — to get tenants and their employees to legitimately want to come back to their buildings. From investing in upgrades to physical amenities to hiring hospitality-minded professionals for property activation to offering personalized incentives, nothing has been out of bounds when it comes to recouping occupancy.  Enough time has now passed such that owners can judge the extent to which their ideas and initiatives have worked. Of course, the goalposts for what defines success in the office sector have shifted radically during that time. Profit margins and forecasts have shrunk as 60 to 70 percent occupancy three to four days a week now starts to look pretty good, all other factors being held equal. It’s simply a different world. “We are never going back to pre-pandemic ways,” says Ami Figg, senior leasing specialist at Houston-based Hartman. “What COVID-19 has done for the office market is equivalent to what September 11 did for the travel industry. There will always be a need for traditional office space, but it’s changed forever, so it’s upon us as landlord and tenant reps to …

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