Friday, July 10, 2026
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LoansMidwestMinnesotaOffice

Associated Bank Arranges $145.2M in Construction Financing for 400,000 SF Office, Lab Building in Suburban Minneapolis

by Kristin Harlow

MAPLE GROVE, MINN. — Associated Bank has arranged $145.2 million in construction financing for a three-story, single-tenant office and laboratory building in the Minneapolis suburb of Maple Grove. The build-to-suit property for an undisclosed tenant will total 400,000 square feet, including 320,000 square feet of office space and 80,000 square feet of state-of-the-art laboratory space. Employee amenities will include a conference center, credit union/bank, cafeteria, coffee shop, fitness center, bike room, e-bar, game room and green space. Construction is underway with completion slated for late 2025. Ryan Cos. US Inc. is the developer. Steve Clifford of Associated Bank handled the loan arrangements and closing. The syndicated deal included a total of four lenders. Associated Bank served as joint lead arranger and administrative agent, holding $50 million of the total financing package. The other three lenders were First National Bank of Omaha, Alerus Financial NA and Johnson Bank.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $7.6M Sale of Multifamily Property in Chicago’s Edgewater Neighborhood

by Kristin Harlow

CHICAGO — Kiser Group has brokered the $7.6 million sale of a 39-unit multifamily property in Chicago’s Edgewater neighborhood. Katie LeGrand and Jacob Price of Kiser represented the seller, Sam Grossman, managing partner of Fairchild Acquisition. Danny Logarakis of Kiser represented the undisclosed buyer. The seller completed a full renovation of the property in June 2020. The asset was more than 97 percent occupied at the time of sale. The buyer was able to assume debt at a low interest rate for another few years.

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DevelopmentIndustrialMidwestOhio

Brinkmann Constructors Completes 291,400 SF Spec Warehouse in Gahanna, Ohio

by Kristin Harlow

GAHANNA, OHIO — Brinkmann Constructors has completed a 291,400-square-foot speculative warehouse in Gahanna, a northeast suburb of Columbus. Scannell Properties was the developer, and Ford & Associates served as the architect. Located in Eastgate Logistics Center, Gahanna Building A features a clear height of 32 feet, two drive-in bays, 180 standard parking spaces and 30 exterior docks.

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IllinoisLeasing ActivityMidwestRetail

Burlington Signs 22,104 SF Retail Lease in Streamwood, Illinois

by Kristin Harlow

STREAMWOOD, ILL. — Burlington has signed a 22,104-square-foot retail lease at 980 S. Barrington Road in Streamwood, a northwest suburb of Chicago. The retailer will occupy the space beginning later this year. The new lease brings the previously vacant building totaling 81,000 square feet to full occupancy. Value City Furniture previously occupied the entire property, which has now been split into three units. CBRE also arranged the other leases with Aldi (23,589 square feet) and Ollie’s (33,000 square feet). Joe Parrott and Sean McCourt of CBRE represented ownership, Diehl LLC. The building is located within Westview Center, a 350,000-square-foot power center.

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124-W-Broadway-San-Diego-CA
AcquisitionsCaliforniaOfficeWestern

J Street Buys 390,609 SF Vacant Office Building in San Diego, Plans Redevelopment Project

by Amy Works

SAN DIEGO — J Street has acquired a fully vacant office building in San Diego, known as Tower 180, in a lender-facilitated, off-market transaction for an undisclosed price. The buyer plans to convert the 25-story building into hospitality and residential use. Brunson Howard and Rick Reeder of Newmark, along with Kevin Shannon, Tony Malk, Chris Benton and Anthony Muhlstein of Newmark’s U.S. capital markets team, represented the undisclosed seller. Located at 124 W. Broadway, the 390,609-square-foot asset primarily offers 10,000-square-foot floor plates. The asset is centrally located with easy access to Civic Center Trolley Station, Light Rail (MTS Station), Santa Fe Train Depot, San Diego International Airport, Interstate 5 and Highway 163.

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LoansMixed-UseMultifamilyOfficeRetailUtahWestern

PGIM Real Estate Provides $18.5M Mezzanine Loan for Mixed-Use Portfolio in Layton, Utah

by Amy Works

LAYTON, UTAH — PGIM Real Estate has provided an $18.5 million mezzanine loan to Rockworth Cos. for a mixed-use multifamily and commercial portfolio in Layton, approximately 25 miles north of Salt Lake City. The 6.3-acre site features a newly constructed apartment community and two commercial buildings. The multifamily portion totals 252 units, and the two commercial buildings offer a total of 15,000 square feet of second-story office space and 15,130 square feet of ground-floor retail space. Daniel Kattan of PGIM secured the financing for the borrower.

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Smart-Final-Extra-Lancaster-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Arranges Sales of Two Retail Assets at Antelope Valley Plaza in Lancaster, California

by Amy Works

LANCASTER, CALIF. — Hanley Investment Group Real Estate Advisors has completed the sales of a single-tenant Smart & Final Extra! and a single-tenant property occupied by dd’s Discounts at Antelope Valley Plaza in Lancaster, approximately 65 miles north of Los Angeles. Two individual private 1031 exchange buyers acquired the assets in separate transactions, which totaled $11.4 million. In the first transaction, PacWest Management, in partnership with Evergreen Development Co., sold the single-tenant, 32,200-square-foot property that is occupied by Smart & Final Extra! under a new 15-year corporate lease. The property is located at 2058 W. Avenue J. Sean Cox, Bill Asher, Alexander Moore and Kevin Fryman of Hanley represented the seller in the deal. In the second transaction, a Southern California-based 1031 exchange buyer acquired the 24,000-square-foot property at 2038 W. Avenue J in an all-cash transaction. dd’s Discounts, which occupies the property, has less than three years remaining on the initial lease term. Cox, Asher, Moore and Fryman represented the seller, PacWest Management, in the transaction.

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1180-Central-Ave-Riverside-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Negotiates $2.2M Sale of Multifamily Community in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — CBRE has arranged the sale of 1180 Central Avenue, a seven-unit apartment property in the Inland Empire city of Riverside. Michael J. O’Neill and Jean A. O’Neill Trust acquired the asset from The Kazanjian Exemption Trust for $2.2 million, or $315,000 per unit. Located on the Canyon Crest area of Riverside, the community features two- and three-bedroom floor plans, five of which are townhouse style with golf course views. Eric Chen and Blake Torgerson of CBRE represented the buyer in the transaction.

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AcquisitionsColoradoIndustrialWestern

Newmark Brokers $2.1M Sale of Industrial Building in Denver

by Amy Works

DENVER — Newmark has arranged the sale of an industrial property located at 1305 Osage St. in Denver. Osage Studios LLC acquired the asset from GSW Ventures LLC for $2.1 million. Mike Viehmann and Mike Wafer Jr. of Newmark represented the seller, while Gruber Commercial Real Estate represented the buyer in the deal.

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DevelopmentGeorgiaHospitalitySoutheastTop Stories

Hilton Opens 976-Room Signia by Hilton Hotel in Downtown Atlanta

by John Nelson

ATLANTA — Hilton Worldwide Holdings (NYSE: HLT) has opened Signia by Hilton Atlanta in the city’s downtown district. At 976 rooms and 1.3 million square feet, the project represents the largest hotel development in the city in at least 40 years, according to Hilton. The property is also the first new-build hotel for the company’s Signia brand, as well as the first Signia property in Georgia. The Georgia World Congress Center Authority (GWCCA), which owns and operates the adjacent Georgia World Congress Center, is the owner of the Signia hotel. Development costs were not disclosed, but the Atlanta Business Chronicle reports that the project cost roughly $450 million to develop. Built on the grounds of the former Georgia Dome, a sports and concert arena that was demolished in November 2017, the 42-story hotel is the lodging component of the GWCCA’s “Championship Campus,” which is self-described as “North America’s largest combined convention, sports and entertainment destination.” The campus also includes Georgia World Congress Center, Centennial Olympic Park and Mercedes-Benz Stadium, which is the home arena of the NFL’s Atlanta Falcons and MLS’s Atlanta United. The hotel is also adjacent to State Farm Arena, home of the NBA’s Atlanta Hawks, and Centennial …

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