Tuesday, May 19, 2026
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DevelopmentIllinoisIndustrialMidwest

CRG to Develop 66,552 SF Spec Industrial Facility Adjacent to O’Hare International Airport

by Kristin Harlow

FRANKLIN PARK, ILL. — CRG has unveiled plans to develop The Cubes at ORD, a 66,552-square-foot speculative industrial facility in the Chicago suburb of Franklin Park. The project will be situated on 4.3 acres at 3901 Fleetwood Drive immediately southeast of O’Hare International Airport. The multimodal facility, which will feature direct access to I-294 and the airport, will accommodate small and mid-size users looking for Class A space in the submarket. Completion is slated for the fourth quarter. The Cubes at ORD will offer the same modern features as CRG’s other Cubes-branded facilities, including ESFR sprinkler systems, high-efficiency LED lighting, 20 exterior docks, two drive-in doors, 11 trailer storage spaces and parking for 70 vehicles. CRG’s parent company, Clayco, will serve as the builder. CRG affiliate Lamar Johnson Collaborative is the architect. Brian Colson and Brian Pomorski of Avison Young will market the project for lease. Avison Young also represented CRG in the purchase of the land, while Michael Caprile of CBRE represented the sellers.

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AcquisitionsData CentersIllinoisIndustrialMidwest

Cawley Brokers Sale of 14-Acre Land Assemblage in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — Cawley Commercial Real Estate has brokered the sale of 12 parcels of land totaling 14.2 acres in Itasca for an undisclosed price. Located on Marino Court, the site had long been a coveted location for developers over the past decade, with multiple unsuccessful attempts to secure the parcels. Andrew Maletich of Cawley worked on the deal for 27 months to secure contracts for all the parcels, overseeing the annexation and rezoning of the site into the Village of Itasca. He ultimately brokered the sale of the property, which sold to a large data center company.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Secures $4.2M Loan for Refinancing of Multifamily Property in Sterling Heights, Michigan

by Kristin Harlow

STERLING HEIGHTS, MICH. — Bernard Financial Group (BFG) has arranged a $4.2 million loan for the refinancing of a 231-unit multifamily property in Sterling Heights, a northern suburb of Detroit. Dennis Bernard and Joshua Bernard of BFG arranged the loan on behalf of the borrower, One Durham LP. Symetra Life Insurance Co. was the lender.

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LoansMichiganMidwestMultifamily

PACE Loan Group Arranges $4M in C-PACE Financing for Short-Term Rental Condos in Traverse City, Michigan

by Kristin Harlow

TRAVERSE CITY, MICH. — PACE Loan Group has arranged nearly $4 million in C-PACE financing for The Boardwalk, a short-term rental condominium project under construction in Traverse City. The property is being built in two phases. The first phase, which features 42 units with first-floor retail space, received $1.7 million in early 2023 and is slated for completion in March. The second phase, which features 48 units, received $1.8 million and is scheduled for completion in the second quarter. The project is utilizing modular construction methods. The senior lender for both C-PACE loans was a local credit union. The PACE proceeds will be used to finance energy conservation and renewable energy measures, including increased building insulation, Energy Star windows, high-efficiency HVAC and plumbing fixtures, and LED lighting. The renewable and energy conservation measures are expected to save $120,140 annually in the payback period of 13.5 years. The Boardwalk marks the fourth PACE project in Grand Traverse County and the 76th in the state of Michigan. The PACE program is administered in a public-private partnership through Lean & Green Michigan. C-PACE, or Commercial Property Assessed Clean Energy, is a financing tool that provides long-term, low-cost construction financing for new and existing …

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Leasing ActivityNew JerseyNortheastOffice

Cushman & Wakefield Negotiates 10,583 SF Office Lease Renewal in Parsippany, New Jersey

by Taylor Williams

PARSIPPANY, N.J. — Cushman & Wakefield has negotiated a 10,583-square-foot office lease renewal in the Northern New Jersey community of Parsippany. The tenant, Business Credentialing Services, is taking space at 199 Cherry Hill Road, which according to LoopNet Inc. was built in 1970, renovated in 2017 and totals 57,445 square feet. William O’Keefe and Courtney Rosenkrantz of Cushman & Wakefield represented the landlord, locally based investment firm The Birch Group, in the lease negotiations.

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Oakview-Apts-Biltmore-Apts-CA
AcquisitionsCaliforniaMultifamilyWestern

FPA Multifamily Buys Two-Property Apartment Portfolio in Ventura County, California for $153M

by Amy Works

WESTLAKE VILLAGE AND THOUSAND OAKS, CALIF. — FPA Multifamily has purchased a two-property apartment portfolio in Ventura County from a private multifamily investor for $153 million. The portfolio includes Oakview Apartment Homes, a 242-unit asset built in 1970 in Westlake Village, and The Biltmore at Thousand Oaks, a 167-unit property built in 1965 in Thousand Oaks. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and facilitated the buyer in the deal.

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Canyon-Industrial-Center-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

BKM Capital Partners Acquires Canyon Industrial Center in San Diego for $70.2M

by Amy Works

SAN DIEGO — BKM Capital Partners has purchased Canyon Industrial Center, a multi-tenant industrial park in San Diego’s Kearny Mesa submarket, for $70.2 million. Situated at 9424-9560 Chesapeake Drive, Canyon Industrial Center features 198,728 square feet of space spread across 13 buildings, with a 31 percent office component. Built in 1979, Canyon Industrial Center offers 49 units ranging in size form 552 square feet to 18,953 square feet with 14- to 20-foot clear heights, ample parking, 56 grade-level doors and seven dock-high doors. BKM plans to invest more than $1.7 million to bring the property from Class B to Class A status, including upgrades to its roofs, HVAC systems, parking lots, paint, signage and landscaping. The company also plans to demolish and re-tenant two large industrial units, totaling 32,000 square feet, into four small-bay suites averaging 8,000 square feet. At the time of sale, Canyon Industrial Center was 99 percent leased to 46 tenants. Jeff Cole, Jeff Chiate and Bryce Aberg of Cushman & Wakefield represented the seller, a global investment advisor, while BKM represented itself in the transaction.

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1975-Oak-St-Lakewood-CO.jpg
AcquisitionsColoradoMultifamilyWestern

NorthPeak Commercial Brokers $10.5M Sale of Multifamily Property in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — NorthPeak Commercial Advisors has arranged the sale of 1975 Oak Street, an apartment building in Lakewood, just southwest of Denver. The asset traded for $10.5 million, or $239,285 per unit. Scott Fetter and Joe Hornstein of NorthPeak Commercial Advisors represented the undisclosed seller, while Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the buyer in the deal. The 33,703-square-foot property offers 42 residential units.

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2640-E-26th-St-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

Apparel Wholesaler Privy Purchases 40,129 SF Industrial Property in Vernon, California

by Amy Works

VERNON, CALIF. — Privy, an apparel wholesaler, has acquired an industrial building located at 2640 E. 26th St. in Vernon. A private investment company sold the asset for $13.7 million. Privy plans to use the 40,129-square-foot property as its expanded headquarters. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM Commercial’s capital markets office in Costa Mesa represented the seller, while Steven Kim of One Commercial represented the buyer in the deal. Moon Lim and Ryan Judd of DAUM’s Los Angeles office also participated in the transaction.

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1441-N-34th-St-Seattle-WA
LoansOfficeWashingtonWestern

Gantry Arranges $6.2M Refinancing for Lake Union Center Office Building in Seattle

by Amy Works

SEATTLE — Gantry has arranged a $6.2 million permanent loan to refinance Lake Union Center, a Class A property in Seattle’s North Lake Union submarket. The borrower is a private real estate entity. Mike Wood and Colin Ceithaml of Gantry’s Seattle office secured the 10-year loan, which features a fixed rate and 25-year amortization schedule. Located at 1441 N. 34th St., the property features 65,000 square feet of office space that was fully occupied at the time of sale.

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