WRENTHAM, MASS. — Fairbanks Morse Defense, a provider of maritime engineering and manufacturing solutions, has signed a 71,350-square-foot industrial lease in Wrentham, located along the Massachusetts-Rhode Island border. The space is located within the 176,800-square-foot building at 315 Green St., which features a clear height of 32 feet. Kelly Sullivan and Rachel Igoe of Cushman & Wakefield represented the tenant, which plans to take occupancy in the fourth quarter, in the lease negotiations. Ellison Patten and James Tambone of Lincoln Property Co. internally represented the landlord, which developed the building in partnership with real estate private equity firm Stockbridge.
BOSTON — A partnership between Pennrose and the Hyde Square Task Force (HSTF) has broken ground on a 55-unit affordable housing redevelopment in the Jamaica Plain area of Boston. Designed by DiMella Shaffer, the project will convert the former 71,000-square-foot Blessed Sacrament Church, which was built in 1913 and closed by the Catholic Church in 2004, into a complex with studio, one- and two-bedroom apartments that will be reserved for residents earning 30 to 80 percent of the area median income (AMI). Six residences will also be set aside for formerly homeless residents, and the church’s nave will be repurposed into a multipurpose performance and gathering space for the Afro-Latin community. Completion is slated for late 2027.
ROCHESTER, MINN. — Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., and Reuter Walton Development LLC will co-develop Citywalk Apartments, a 342-unit multifamily community in downtown Rochester directly across from Mayo Clinic’s campus. Construction is expected to begin this month, with completion anticipated in 2028. The project will include a mix of apartments and 90 short-term, fully furnished units designed to support the evolving needs of Rochester’s healthcare and business community. Plans call for more than 250 climate-controlled underground parking spaces complete with electric vehicle charging stations. Residents will have access to a clubroom, fitness center, indoor-outdoor rooftop sky terrace, pool, coworking and conference room, golf simulator and game lounge.
LANSING, ILL. — Lee & Associates of Illinois has brokered the sale of a 455,858-square-foot warehouse located at 16801 Exchange Ave. in Lansing, a south suburb of Chicago. Walter Murphy of Lee & Associates represented the buyer, RBT Industries (The Great Escape), a retailer of home leisure products. RBT will occupy 313,982 square feet of the building while the remainder will be leased to LKQ Corp. Stephanie Park, Colin Green and Traci Payette of CBRE represented the seller, Plymouth Industrial REIT Inc.
HAMPSHIRE, ILL. — Principle Construction Corp. has completed a warehouse renovation for POLI FILM America Inc. at One Elgiloy Drive in Hampshire, a far northwest suburb of Chicago. The project provides the protective plastic film manufacturer with a streamlined, rectangular floor plan designed to optimize high-volume manufacturing operations. The centerpiece of the project involved relocating 12 precast concrete panels from an existing 133-foot wall. By moving these panels and integrating new ones, Principle enclosed the inner section of a previously L-shaped warehouse, converting it into a contiguous space. Principle also expanded the west side dock apron and added two new dock positions in the existing warehouse space. The addition of 38,956 square feet to the manufacturing facility included a new entry door and a drive-in door, a gas-fired make-up air unit, ballasted roof and lighting. Principle also installed an infiltration pit for increased stormwater management capacity. Harris Architects was the architect.
CHICAGO — Kiser Group has arranged the $5.7 million sale of a 43-unit apartment building located at 5123-31 S. University Ave. in Chicago’s Hyde Park neighborhood. Lee Kiser brokered the transaction. The Norm Levin Trust sold the property to Florin Pavel. Situated a few blocks from the University of Chicago, the asset was 97.7 percent occupied at the time of sale. The buyer completed a 1031 exchange and plans to renovate and reposition the asset to better serve student housing demand. The same family had owned the property since 1962.
WESTLAKE VILLAGE, CALIF. — LTC Properties has acquired two seniors housing communities in Colorado and New Mexico from Harbert Management Corp. for a combined purchase price of $73 million. Offering both assisted living and memory care, the properties are the 69-unit MorningStar of Albuquerque and the 64-unit MorningStar of Wheat Ridge in Denver. MorningStar Senior Living will continue to manage the properties on behalf of the new ownership. Berkadia brokered the sale of the properties. LTC will own the communities as a senior housing operating portfolio (SHOP) properties. Since launching its SHOP platform in May 2025, the portfolio has grown to 36 properties, representing 34 percent of the REIT’s total gross real estate investments.
LOS ANGELES — Winstar Properties has purchased The Flat, a 205-unit apartment complex located in the City West neighborhood of Los Angeles. Terms of the transaction were not released. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the transaction. Built in 1968, The Flat features 205 apartments. The property features a controlled-access entry system, modernized resident lounge, upgraded laundry rooms, new windows and a package receiving systems. Renovated apartments include built-in kitchenettes with modern fixtures, new cabinetry, quartz countertops and new refrigerators. Additionally, six of the renovated studio units are furnished.
Slatt Capital Arranges $12M in Acquisition Financing for Office Property in Rohnert Park, California
ROHNERT PARK, CALIF. — Slatt Capital has arranged $12 million in acquisition financing for a multi-tenant, 68,094-square-foot office building in Northern California. Located at 5900 State Farm Drive, the property was built in 1973. The Standard, a life insurance company lender, provided the nonrecourse loan, which features a structured staggered term and a 30-year amortization schedule. Sarah Armstrong and Daniel Friedeberg of Slatt Capital led the transaction, while Jonathan Siewert served as analyst.
By Aaron Hyde and Justin Lossner, JLL Regional markets like Des Moines are no longer waiting their turn. Retailers and office users that once bypassed mid-sized metros for coastal or high-growth markets are compressing their timelines and arriving here ahead of schedule. Heading into the second half of 2026, that shift is already playing out on the ground. Des Moines faces constrained supply and steady demand—not excess capacity. Across retail and office, the question isn’t whether tenants want to be here, but whether growth can physically occur. Retail: strong demand Retail vacancy in metro Des Moines sits around 3.5 percent, the tightest rate in over a decade. Demand spans categories: Quick-service restaurants, banks, auto tenants, fitness and junior box soft goods retailers all absorb space as it becomes available. Retailers are no longer simply looking for the next door down the street. They’re expanding regionally, and markets like Des Moines are benefiting as larger metros tighten. National retailers now enter Des Moines earlier in their expansion cycles. In fact, roughly 36 percent of new national retail leases were signed within five months of space becoming available. Des Moines is consistent with that velocity. Space — not demand — limits growth …