Tuesday, April 7, 2026
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CivicDevelopmentMidwestOhio

Hammes Breaks Ground on 80,000 SF Academic Building in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Hammes has broken ground on OhioHealth Hall, an 80,000-square-foot academic building for healthcare education at Columbus State Community College in Columbus. The facility will feature labs, simulation spaces, classrooms and student amenities. The project, announced in June 2023, is a partnership with OhioHealth. Hammes Healthcare will serve as Columbus State’s project manager and owner’s representative. The architect is Moody Nolan, and Elford is serving as the construction manager.

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AcquisitionsIndianaMidwestRetail

Marcus & Millichap Brokers $4.8M Sale of Wawa-Occupied Retail Property in Noblesville, Indiana

by Kristin Harlow

NOBLESVILLE, IND. — Marcus & Millichap has brokered the $4.8 million sale of a newly built retail property occupied by Wawa in the Indianapolis suburb of Noblesville. Located at 2701 Westfield Road, the 5,915-square-foot asset features a new 20-year absolute NNN ground lease corporately guaranteed by Wawa Inc. The store, which opened in May, is positioned at the entrance to Midland Pointe, a $72 million development with luxury apartments and more than 40,000 square feet of retail space. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap represented the seller, a Florida-based developer, in association with Josh Caruana, the firm’s broker of record in Indiana. The buyer was undisclosed.

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AcquisitionsIllinoisIndustrialMidwest

Premier Commercial Realty Arranges $2M Sale of Industrial Portfolio in Crystal Lake, Illinois

by Kristin Harlow

CRYSTAL LAKE, ILL. — Premier Commercial Realty has arranged the $2 million sale of a six-building industrial portfolio in the Chicago suburb of Crystal Lake. Totaling nearly 40,000 square feet, the multi-tenant properties were built by John Yazel in the 1970s. Bruce Kaplan and Heather Schweitzer of Premier brokered the transaction. An Indiana-based investor purchased the portfolio with plans to make necessary improvements and lease up any vacant spaces.

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AcquisitionsIllinoisIndustrialMidwest

Alterra IOS Acquires 2.8-Acre Industrial Outdoor Storage Property in Metro Chicago

by Kristin Harlow

ELMHURST, ILL. — Alterra IOS has acquired a 2.8-acre industrial outdoor storage (IOS) property with more than 35,000 square feet of accompanying warehouse space in the Chicago suburb of Elmhurst. Located at 216 W. Diversey Ave., the asset includes designated office space and is fully leased to a heavy-duty truck company. Situated 10 miles southwest of the Chicago O’Hare International Airport, the property offers convenient access to Chicago and the greater Midwest with direct connectivity to I-290, I-294 and Route 20. Alessandra Bianchi of ONE Commercial Real Estate represented Alterra in the acquisition. As of third-quarter 2025, Alterra has acquired more than 390 properties in 37 states.

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Mark Tallahassee
DevelopmentFloridaSoutheastStudent Housing

Landmark, Manulife Investment Complete 860-Bed Student Housing Development Near Florida State University

by Abby Cox

TALLAHASSEE, FLA. — A joint venture between Landmark Properties and Manulife Investment Management has completed The Mark Tallahassee, an 860-bed student housing development near the Florida State University (FSU) campus in Tallahassee. The development team for the project included Dwell Design and Landmark Construction. Located at 675 W. Lafayette St., the development comprises three mid-rise buildings offering 202 fully furnished units ranging in configurations from studio to six-bedrooms. The property also offers VIP penthouse-style units with upgraded technology and appliance packages, as well as oversized common rooms with pool tables. Amenities include an 8,900-square-foot rooftop clubhouse with a pool and sun shelf overlooking the Doak S. Campbell football stadium; a fitness center with a cold plunge and sauna; 24-hour study lounge; gathering space with a grilling station; fire pits and a Jumbotron; and an additional outdoor fitness center. The Mark Tallahassee was fully leased ahead of FSU’s 2025-2026 academic year. 

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Riverport 5
IndustrialLoansSouth CarolinaSoutheast

JLL Secures $115M Financing for Three Distribution Centers in Hardeeville, South Carolina

by Abby Cox

HARDEEVILLE, S.C. — JLL Capital Markets has secured $115 million in financing for three industrial buildings located within RiverPort Commerce Park in Hardeeville, roughly 10 miles from the Port of Savannah. The portfolio, which comprises Riverport buildings 5, 6 and 7, totals roughly 1.3 million square feet. Bobby Norwood, Mark Sixour, Kelsey Bawcombe and Austin Smith of JLL arranged the loan on behalf of the borrowers, North Signal Capital and EJF Capital LLC. Synovus and City National Bank provided the loan. RiverPort 5 spans 130,436 square feet and features a rear-load configuration, 34 dock-high doors and 32-foot clear heights. RiverPort 6 encompasses 402,491 square feet in a front-load design with 94 dock-high doors and 36-foot clear heights. The largest facility, RiverPort 7, spans 791,259 square feet in a cross-dock configuration with 154 dock-high doors and 36-foot clear heights. The three-building portfolio is currently 87 percent leased to various tenants such as logistics providers, consumer products distributors and security system manufacturers.

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Remount I & II
AcquisitionsIndustrialOfficeSouth CarolinaSoutheast

CBRE Arranges $48M Sale of Remount Office and Industrial Park in North Charleston, South Carolina

by Abby Cox

NORTH CHARLESTON, S.C. — CBRE has arranged the sale of Remount I & II, a 305,114-square-foot office and industrial park located in North Charleston. Accordia Real Estate purchased the master-planned property for $48 million. Patrick Gildea, Matt Smith, Robert Hardaway, Charlie Carmody, Chip Shealy and Will Yowell of CBRE, along with Jay O’Meara, Justin Parsonnet and Ryan Reethof of Newmark, represented the sellers, Accesso Partners and Partners Group. Matthew Pizzolato and Josh Stein, also with CBRE, arranged an undisclosed amount of acquisition financing through CIBC and a joint venture equity partnership with an unnamed institutional partner. Situated on roughly 26 acres near Charleston International Airport, Remount I & II is a two-building, dual flex property that fronts the Cooper River. The industrial park is currently 90 percent leased to seven tenants and features steel-frame and concrete tilt-up wall construction, 18-foot clear heights, six dock slips, 13 drive-in doors and 240-foot truck courts. The layout also includes flexible floor plates designed to support a range of tenant sizes and operational needs. 

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Park at Bay Plaza
AcquisitionsFloridaOfficeSoutheast

IPA Brokers $17.6M Sale of Park at Bay Plaza Office Complex in East Tampa

by Abby Cox

TAMPA, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17.6 million sale of Park at Bay Plaza, a 186,239-square-foot office campus located in east Tampa. Constructed between 1974 and 1985, Park at Bay Plaza sits on 13 acres. The office complex, which includes 65 office suites across the seven-building campus, was 85 percent leased at the time of sale to medical, corporate and logistics tenants. Offices at the property range in size from 379 square feet to 9,348 square feet. Douglas Mandel of IPA, along with Zach Levine and James Defusto of Marcus & Millichap, represented the seller, Tavaco Properties, and procured the buyer, Albany Road Real Estate Partners, in the transaction.

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DevelopmentIndustrialLife SciencesTexasTop Stories

Eli Lilly to Build $6.5B Pharmaceutical Manufacturing Facility at Generation Park in Houston, Create 600 Jobs

by Kristin Harlow

HOUSTON — Eli Lilly and Co. (NYSE: LLY) has unveiled plans to build a new $6.5 billion manufacturing facility at Generation Park, a 4,000-acre master-planned development in northeast Houston that is owned by McCord Development. The active pharmaceutical product (API) facility, which represents the second of four new U.S. sites that Lilly plans to announce this year, will be used to manufacture the company’s pipeline of small molecule medicines across therapeutic areas, including cardiometabolic health, oncology, immunology and neuroscience. The project is expected to be operational within five years. Lilly plans to bring 615 new, high-wage jobs to the greater Houston area, including engineers, scientists, operations personnel and lab technicians. The company also expects to generate 4,000 construction jobs as the project is built. The facility will be among those that will manufacture orforglipron, Lilly’s first oral, small molecule GLP-1 receptor agonist, which the company expects to submit to global regulatory agencies for obesity by the end of this year. “Our new Houston site will enhance Lilly’s ability to manufacture orforglipron at scale and, if approved, help fulfill the medicine’s potential as a metabolic health treatment for tens of millions of people worldwide who prefer the ease of a pill …

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Market ReportsOfficeWashingtonWesternWestern Market Reports

Growing Pains, Opportunities Ahead for Seattle’s Office Market

by John Nelson

— By Dan Dahl of Kidder Matthews — Seattle’s office market has proven more resilient than other cities in past downturns, with smaller declines and quicker recoveries. This cycle is different. Seattle has been hit harder and is recovering more slowly than the rest of the country. San Francisco often signals what’s to come, with the Emerald City trailing by about 12 months. AI-driven leasing activity in San Francisco is gaining momentum — signaling growth for Seattle — but the local market still faces headwinds.  Demand Softens as Tenants Downsize Demand for office space in Seattle remains weak. Most tenants with upcoming lease expirations are downsizing. Tech companies have historically driven office demand here, but now they are shedding space, laying off employees and working from home. Tenants have the leverage. Concessions like free rent, reduced rates and built-out spaces are abundant, providing the opportunity for tenants to pursue a flight to quality and upgrade to higher-end space. Investment Market Under Pressure The investment side is equally challenged. Owners with near-term loan expirations are often in a pinch. Their loan balances exceed current building values due to high vacancies, lower rental rates, elevated cap rates and higher interest rates. As a …

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