Saturday, April 11, 2026
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IllinoisLeasing ActivityMidwestOffice

Clayco, Prime Group Ink 75,633 SF of Office Leases at Chicago’s Historic Jewelers Building

by Kristin Harlow

CHICAGO — Clayco and its development subsidiary CRG, along with The Prime Group Inc., have inked 75,633 square feet of new leasing activity at the historic 35 E. Wacker Drive, known as The Jewelers Building in Chicago. Madison Rose has led the leasing efforts. The latest activity includes a 25,445-square-foot headquarters relocation by Sheridan Capital Partners, a 21,664-square-foot expansion by Clayco/CRG and a 21,666-square-foot renewal by architecture firm SmithGroup. JLL’s Pat Schenk and Bill Rogers represented Sheridan Capital Partners, a private equity firm focused on healthcare investments that is relocating from the Wrigley Building. Clayco expanded its footprint to 91,785 square feet and extended its lease term to 2035. The Jewelers Building has served as Clayco’s Chicago headquarters for more than 15 years. SmithGroup renewed its lease in a multi-year deal. Other recent renewals that bring the total to 75,633 square feet include Aprio and Selective Search. The Jewelers Building was constructed in 1926. Recent renovations to the building include new high-efficiency building systems and sustainability features. Amenities include a conference center, fitness facility and private parking garage.

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DevelopmentSoutheastStudent HousingVirginia

Deven Group Breaks Ground on 386-Bed Student Housing Community Near University of Virginia

by John Nelson

CHARLOTTESVILLE, VA. — Development Ventures Group (Deven Group) has broken ground on a 386-bed, on-campus student housing community situated adjacent to Scott Stadium, home arena of the University of Virginia football team. Located at 2005 Jefferson Park Ave. in Charlottesville, the seven-story, $63 million community will offer 119 units with a mix of one-, two-, three- and four-bedroom layouts. Each unit will include walk-in closets, keyless entry and smart TVs, with select units offering private terraces. Amenities at the 240,000-square-foot property will include an elevated amenity deck with mountain views; a heated plunge pool; firepit, grilling stations and hammock and game lawns; clubroom with a coffee bar and event kitchen; group and private study rooms; fitness center with yoga and spin studios; EV chargers; and bike and parcel storage. Deven Group plans to deliver the unnamed community in summer 2027. Capital partners on the project include Marble Capital, BOK Financial and Clairmont Capital Group. Breeden Construction is the general contractor and is currently constructing a project within University of Virginia’s Fontaine Research Park. Deven Group, the U.S. development arm of Kajima Corp., a 180-year-old Japanese construction company, has approximately $300 million of projects set to break ground this year.

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AcquisitionsIndustrialMidwestMinnesota

CBRE Arranges $25.2M Sale of Industrial Portfolio in Metro Twin Cities

by Kristin Harlow

MINNEAPOLIS — CBRE has arranged the sale and acquisition financing for a 220,244-square-foot, four-property industrial portfolio in metro Twin Cities. An undisclosed buyer purchased the portfolio from Big River Real Estate for $25.2 million. CBRE’s Bentley Smith, Judd Welliver, Zach Graham, Ryan Bain, Joe Horrigan and Michael Caprile represented the seller. Billy Mork and Mike Vannelli of CBRE arranged a $15 million loan on behalf of the buyer that features a five-year term, fixed interest rate and full-term interest-only payments. The properties include 1971 Seneca Road in Eagan, 1420-1464 Cliff Road in Burnsville, 3830 Cheatham Ave. in Minneapolis and 1441 First Ave. NW in New Brighton. All of the assets were at least 94 percent leased at the time of sale.

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AcquisitionsIndianaMidwestMultifamily

Marcus & Millichap Brokers $7.4M Sale of Multifamily Portfolio in Indiana

by Kristin Harlow

INDIANA — Marcus & Millichap has brokered the $7.4 million sale of a portfolio with 76 apartment units and three retail spaces in Hartford City, Spiceland, Knightstown and Rushville. The four properties were built between 2017 and 2021. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, KDC Investments, and procured the buyer, PRE/3.

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AcquisitionsIndustrialMidwestOhio

Partnership Acquires 177,680 SF Hilliard Commerce Center in Ohio

by Kristin Harlow

HILLIARD, OHIO — Industrial Realty Group LLC, Provider Real Estate Partners and DW Real Estate Partners LLC have acquired Hilliard Commerce Center in Hilliard, just northwest of Columbus. The 177,680-square-foot industrial property sits on 18.6 acres. The partnership plans to improve the facility with exterior upgrades, repairs to the existing structure and demolition of inefficient space. Nick Tomasone of CBRE is handling leasing.

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AcquisitionsDevelopmentFloridaIndustrialSoutheast

Colliers Negotiates Sale of 168.3-Acre Industrial Development Site in South Orlando

by John Nelson

ORLANDO, FLA. — Colliers has negotiated the $46.3 million sale of a 168.3-acre site on Wetherbee Road near Orlando International Airport. Orlando Utilities Commission sold the parcel on the south side of the city to developer Seefried Industrial Properties and its equity partner Clarion Partners. Joe Rossi, Lee Morris, Jeff Morris and Bret Felberg of Colliers represented the seller in the land transaction. Seefried was self-represented in the deal and has selected Morris to lease the development, which is dubbed Orlando Infill Logistics Center. The project will span 1.5 million square feet of new development across a maximum of nine buildings. Seefried plans to begin construction in the first quarter on the first three buildings, which are being developed on a speculative basis. Build-to-suit opportunities are also being entertained at the site, according to Colliers. Orlando Infill Logistics Center will feature up to 1,500 automobile parking spaces and 600 trailer spaces at full build-out.

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AcquisitionsMixed-UseMultifamilyNorth CarolinaRetailSoutheastWalker & Dunlop

Lone Star Sells Mixed-Use Lofts at Reynolds Village in Asheville, North Carolina

by John Nelson

ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.

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AcquisitionsNorth CarolinaRetailSoutheast

Marcus & Millichap Brokers $5.1M Sale of Retail Property in Kernersville, North Carolina Leased to Firestone

by John Nelson

built retail property located at 1186 S. Main St. in Kernersville, about 20 miles west of Greensboro, N.C. Automotive services firm Firestone, a subsidiary of Bridgestone Retail Operations LLC, fully occupies the 5,798-square-foot property on a 15-year absolute triple-net lease. Don McMinn of Marcus & Millichap’s Atlanta office represented the seller, a North Carolina-based developer, in the transaction. The buyer was also not disclosed. Donald Gilchrist served as Marcus & Millichap’s broker of record in North Carolina for the deal. “The Firestone closing demonstrates the growing wave of private capital flowing into the net-lease market, fueled by the passage of the ‘Big Beautiful Bill,’ improving confidence and the prospect of interest rate cuts,” says McMinn. “We expect this momentum to carry into the second half of 2025, driven by lower interest rates, increased 1031 exchange activity and stronger deal flow.”

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AcquisitionsRetailTexas

JLL Brokers Sale of 85,129 SF Shopping Center in North San Antonio

by Taylor Williams

SAN ANTONIO — JLL has brokered the sale of Marketplace at Encino Park, an 85,129-square-foot shopping center located at 22135 Bulverde Road in the Far North submarket of San Antonio. Sprouts Farmers Market anchors the center, which was fully leased at the time of sale. Other tenants include Pet Supplies Plus, Burger King and F45. Barry Brown, Erin Lazarus, Shea Petrick and Whitney Snell of JLL represented the seller, Birnbaum Property Co., in the transaction. The buyer was Illinois-based InvenTrust Properties Corp.

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Leasing ActivityOfficeTexas

Maven Opens 12,000 SF Coworking Space at Sundance Square in Downtown Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — The Maven, a coworking concept designed specifically for female professionals and entrepreneurs, has opened a 12,000-square-foot space at Sundance Square, a shopping and dining destination in downtown Fort Worth. The space will feature furnished offices, flexible desk layouts, lounges, dining areas, a lactation room, private meeting spaces and a conference room. Local brokerage firm LanCarte Commercial Real Estate is leasing the space.

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