Saturday, February 7, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Property Type

DevelopmentIllinoisIndustrialMidwest

Peak Construction to Complete Two Tenant Improvement Projects at 1 MSF Industrial Building in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Peak Construction Corp. will complete two tenant improvement projects at NorthPoint Development’s Third Coast Intermodal Hub Building 1 in Joliet. The first build-out totals 303,053 square feet and features a clear height of 40 feet, 25 dock doors, one drive-in door, 59 trailer stalls, 164 car spaces, 2,500 square feet of office space and two remote restrooms. The second project is an expansion for an existing tenant for whom Peak previously built out its space. The expansion adds 431,627 square feet with a clear height of 40 feet, 49 dock doors, one drive-in door, 97 trailer stalls, 204 car spaces, 5,500 square feet of office space and a remote restroom. Both projects are slated for completion in fourth-quarter 2025. The architect is studioNorth. Peak completed construction of the 1 million-square-foot building in 2024.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers Two Sales of Chicago Multifamily Properties for $13M

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sales of two vintage apartment buildings in Chicago’s Lincoln Park neighborhood for a total of $13 million. The properties included 611-13 W. Arlington Place, a 23-unit asset built in 1927 that sold for $7.3 million, and 567-69 W. Arlington Place, a 14-unit building constructed in 1907 that traded for $5.7 million. Colin O’Malley of Interra represented the confidential seller of both properties. Joe Smazal and Mark Dykstra of Interra represented Hayes Properties, the buyer of 611-13 W. Arlington. The confidential buyer of the other property was self-represented. Both assets were fully occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialMidwestNebraska

Darland Delivers 60,000 SF Industrial Facility for Mid-States Utility in Papillion, Nebraska

by Kristin Harlow

PAPILLION, NEB. — Darland Construction Co. has completed a nearly 60,000-square-foot industrial facility for Mid-States Utility Trailer Sales in Papillion. The project is located just off Highway 50 and I-80 and serves as a regional hub for the semi-trailer dealer. The development features a trailer shop, parts warehouse, driver’s lounge and administrative offices. A notable aspect of the project includes more than 11 acres of exterior paving designed to accommodate the extensive inventory and traffic flow of large semi-trailers. Mid-States Utility operates four locations across Nebraska, Iowa and South Dakota.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentIllinoisMidwestRetail

Fortec to Redevelop Former Ambulance Warehouse in Metro Chicago into Early Education Center

by Kristin Harlow

VERNON HILLS, ILL. — Fortec has acquired a 15,040-square-foot former ambulance warehouse at 401 W. Sullivan Drive in the Chicago suburb of Vernon Hills. The $1.7 million acquisition is part of a $5 million investment to transform the property into The Nest School-Vernon Hills, an early education center scheduled to open in spring 2026. Fortec has signed a lease with The Nest Schools, a childhood education operator with more than 50 schools nationwide. Construction is scheduled to begin this month, with planned improvements including a full interior renovation, the addition of an outdoor playground and a modern redesign led by New Look Architecture. The property formerly served as a Superior Ambulance headquarters. Fortec is financing the project with a lender partner and expects to complete construction by mid-2026. Northmarq’s Milo Spector represented Fortec in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMichiganMidwestRetail

Bargain House Outlet Signs 8,160 SF Retail Lease in Westland, Michigan

by Kristin Harlow

WESTLAND, MICH. — Bargain House Outlet has signed an 8,160-square-foot retail lease at One Michigan Place in Westland, a western suburb of Detroit. The tenant will move into the former Family Dollar space at the Kroger-anchored shopping center. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the landlord, Axiom Properties. The deal was completed within the first week of listing the property for lease.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityNew YorkNortheast

Cushman & Wakefield Negotiates 25,868 SF Industrial Lease Near JFK International Airport

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has negotiated a 25,868-square-foot industrial lease near JFK International Airport in Queens. The tenant, logistics provider ECMS Express, is taking space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. Rusty Smith, also with Cushman & Wakefield, represented ECMS Express in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastOffice

Swedish Institute Signs 17,610 SF Office Lease Expansion, Extension in Manhattan

by Taylor Williams

NEW YORK CITY — The Swedish Institute Inc. has signed a 17,610-square-foot office lease expansion in Manhattan’s Chelsea district. The organization, which specializes in health and wellness education, now occupies 57,678 square feet at 151 W. 26th St. The Swedish Institute also extended its original lease for 40,068 square feet for another 10 years. Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Max Koeppel represented the landlord, Koeppel Rosen LLC, on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
Conference CoverageFeaturesGeorgiaSeniors HousingSoutheastSoutheast Feature Archive

InterFace Panelists Expect Imminent Spike in Demand for Seniors Housing

by John Nelson

ATLANTA — The seniors housing sector stands at a “curious” crossroads in terms of the current real estate cycle, according to Chris Guay, CEO of Vitality Living. The Brentwood, Tenn.-based company is a seniors housing owner-operator with communities located across the Southeast and Texas. Guay asserts that on one hand, seniors housing owners and operators are still healing from the supply-and-demand shocks stemming from the COVID-19 pandemic. On the other, the sector is standing on the precipice of the prophesied “silver tsunami,” a phenomenon wherein the baby boomer generation is aging into needing senior living care. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The oldest baby boomers are now turning 80, and Guay says that even if developers met the output of the highest point of the previous cycle annually, it still wouldn’t be enough to satisfy the wave of demand coming. “The silver tsunami is actually here,” says Guay. “Right now is probably the most interesting time in the industry that I can remember.” Guay’s comments came during the “power panel” at InterFace Seniors …

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsOfficeSoutheastSoutheast Market ReportsTennessee

Slow and Steady Wins the Race: The State of the Memphis Office Market in 2025

by John Nelson

In a world where volatility has become the norm in commercial real estate, Memphis stands out as a market defined by consistency. While other cities have experienced dramatic swings in vacancy, absorption and construction activity, the Memphis office market continues to follow a more measured pace.  “Slow and steady wins the race” is more than a phrase — it’s a fitting summary of how Memphis has maintained balance amid national disruption. Stability in supply Over the past couple of decades, the total supply of office product in Memphis has grown at a moderate pace, sitting at nearly 28 million square feet today. This disciplined approach has kept vacancy within manageable levels and prevented the oversupply issues seen elsewhere.  With no new speculative construction of size since 2009, the market has had time to absorb shifts in tenant behavior without being flooded with excess space. Demand aligns with supply Because supply has remained relatively static, demand has shifted in composition rather than volume. Like many cities, Memphis has seen a “flight to quality,” with tenants prioritizing modern, amenitized spaces over outdated properties — even if that means reducing their footprint.  A company that once leased 30,000 square feet in a Class …

Continue Reading
FacebookTwitterLinkedinEmail
Capital-Design-District_Dallas
AcquisitionsOfficeTexasTop Stories

HFI Capital Management Acquires 126,000 SF Office Building in Dallas Design District

by Hayden Spiess

DALLAS — HFI Capital Management has acquired 1333 Oak Lawn, a roughly 126,000-square-foot office building located in the Dallas Design District. The sales price was not disclosed.  The 10-story building was completed in 2024. A partnership between FCP and Quadrant Investment Properties announced the project in early 2022, and the latter entity was named as part of the new ownership group alongside HFI. As part of the acquisition, the property will be rebranded as “The Capital Design District” and “The Capital” for short.  In addition to five floors of office space, the building features 8,000 square feet of amenity space on the ninth floor. The property also features a tenant lounge dubbed “Capital Spot,” an executive conference room, fitness center, locker rooms and a rooftop pickleball court.  Mexican restaurant concept Maroma will open this fall on the ground floor of the building.  Located along Oak Lawn, the building is positioned directly across from The Seam, a retail redevelopment that is currently underway. Upon completion, which is scheduled for summer 2026, The Seam will feature restaurants and shops. The property is also within walking distance of restaurants and attractions including Carbone, El Carlos Elegante, the Charles, the Virgin Hotel, Hilton Anatole, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts