Sunday, July 26, 2026
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IndianaIndustrialLeasing ActivityMidwest

Amazon Leases 530,400 SF Within Indiana Industrial Park

by Kristin Harlow

WHITELAND, IND. — Amazon has leased a newly constructed, 530,400-square-foot industrial building within Whiteland Exchange in suburban Indianapolis. The 2.4 million-square-foot industrial business park is located at I-65 and Whiteland Road. Avison Young is the exclusive listing agent for the 167-acre development. Sean McHale and Peter Seoane of Avison Young represented the developer, Jones Development Co. in the new lease with Amazon. With the completion of this lease, Jones plans to begin its next speculative project at Whiteland Exchange.

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AcquisitionsHospitalityIllinoisMidwest

Marriott Chicago Northwest Hotel Trades Hands in Hoffman Estates

by Kristin Harlow

HOFFMAN ESTATES, ILL. — The 295-room Marriott Chicago Northwest hotel has sold for an undisclosed price. Situated in the northwest Chicago suburb of Hoffman Estates, the hotel opened in 2002. It features nearly 13,000 square feet of flexible meeting and event space. Hoffman Estates Hotel Group LLC, led by Harry and Alex Ghoman of Indianapolis-based The Ghoman Group, acquired the property. Ghoman plans to embark on capital improvements, such as renovating the guest rooms and lobby. John Karver and Eric Belfrage of CBRE Hotels represented the undisclosed seller. Rushi Shah and Prabhat Jayara of Mag Mile Capital arranged a bridge loan for the acquisition on behalf of Ghoman.

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IndianaLoansMidwestMultifamily

Berkadia Provides $16.6M Refinancing for Mid-Rise Multifamily Property in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Berkadia has provided a $16.6 million Freddie Mac loan for the refinancing of River House in Indianapolis. Built in 2018, the 90-unit multifamily property is located at 6311 Westfield Blvd. within Broad Ripple Village. Amenities include a rooftop balcony, fitness center and enclosed parking garage. Michael Zaremski and Michael Shmuely of Berkadia secured the permanent refinancing on behalf of the undisclosed borrower. The 10-year loan, which features a 30-year amortization schedule, was used to retire a construction loan.

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AcquisitionsIllinoisIndustrialMidwestOffice

SVN | Chicago Commercial Brokers $8.2M Sale of Redevelopment Site in Chicago’s Humboldt Park

by Kristin Harlow

CHICAGO — SVN | Chicago Commercial has brokered the sale of a redevelopment site in Chicago’s Humboldt Park neighborhood for $8.2 million. The multi-building property sits on 6.5 acres at 1334, 1330 and 1030 N. Kostner Ave. The buyer, 1334 Kostner Owner LLC, is a subsidiary of IBT Group LLC. IBT plans to undertake an extensive office redevelopment project at the site. Jennifer Hopkins and Olivia Czyzynski of SVN represented the buyer. John McDermott of SVN represented the undisclosed seller along with outside broker Amy Van Hook.

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DevelopmentIllinoisMidwestOffice

Mosaic Construction Completes Renovation of Novel Coworking Space in Downtown Chicago

by Kristin Harlow

CHICAGO — Mosaic Construction LLC has completed a renovation of the Novel Coworking space on the top floor of the four-story 420 West Huron Street in downtown Chicago. The 4,500-square-foot project includes a large open area with dedicated space for two private offices, a huddle room and a phone booth for private calls. It also features a full-size private kitchenette. Mosaic worked with Novel’s team of architects and mechanical engineers to install the latest electric and data features.

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Simms-Technology-Park-Broomfield-CO
ColoradoDevelopmentIndustrialOfficeRetailWestern

St. John Properties Buys Land Site for 600,000 SF Simms Technology Park in Broomfield, Colorado

by Amy Works

BROOMFIELD, COLO. — Baltimore-based St. John Properties has acquired 81 acres of land in Broomfield for the development of Simms Technology Park, a $95 million mixed-use business park project. Brocade Communications Systems sold the development site for an undisclosed price. Located at the intersection of North Simms Street and West 112th Avenue, the 600,000-square-foot Simms Technology Park will comprise two multi-story, Class A office buildings offering 200,000 square feet; five single-story office buildings totaling 150,000 square feet; six R&D/flex buildings totaling 220,000 square feet; an 8,000-square-foot retail building; and four pad sites suitable for multiple retail tenants. St. John Properties plans to initially break ground on the single-story office and R&D/flex buildings in early 2021, with delivery of the first building slated for late 2021. The rest of the development will be delivered in phases.

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Amber-Ridge-La-Verne-CA
AcquisitionsCaliforniaLoansMultifamilyWestern

Berkadia Arranges $8M Preferred Equity Investment in Amber Ridge Apartments Near Los Angeles

by Amy Works

LA VERNE, CALIF. — Berkadia has has arranged $8 million preferred equity investment for Silver Star Real Estate’s purchase of Amber Ridge Apartments, a garden-style multifamily property located in La Verne, 30 miles east of Los Angeles. Orange County, Calif.-based Silver Star Real Estate acquired the property through its affiliated purchasing entity, Amber Property Investments, for $49.7 million, or $338,000 per unit. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia’s Joint Venture Equity and Structured Capital Group delivered Harbor Group International as the preferred equity partner. Built in 1973 and renovated in 2006, Amber Ridge features 147 units spread across 25 two-story residential buildings. On-site amenities include a swimming pool with spa; clubhouse with full kitchen and fireplace; business center; outdoor picnic area with barbecue; pet grooming salon; and fitness center.

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Wilhelm-Automotive-Phoenix-AZ
AcquisitionsArizonaRetailWestern

Evergreen Devco Sells Single-Tenant Retail Building in Phoenix for $2.7M

by Amy Works

PHOENIX — Evergreen Devco has completed the disposition of a single-tenant retail building located at 15275 N. 35th Ave. in Phoenix. Vico Partners acquired the asset for $2.7 million. Wilhelm Automotive occupies the 5,569-square-foot building, which RKAA Architects designed. The building is part of Evergreen’s 211,745-square-foot redevelopment project in Phoenix. The company is converting the existing parking field at the formerly Kmart-anchored shopping center into five new pad developments. Situated on 3.7 acres, a Cube Smart self-storage facility anchors the project. Additional tenants include Black Rock Coffee and Salad and Go. Joseph Compagno, R. Max Bippus and Benjamin Farthing of CBRE’s Net Lease Property Group in Phoenix represented the seller, while Dylan Brown and Andrew Fosberg of CBRE Phoenix nad California-based Chris Van Keulen of CBRE represented the buyer in the deal.

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AcquisitionsIndustrialNevadaWestern

GLM Cabinets Acquires Industrial Property in Las Vegas for $2.1M

by Amy Works

LAS VEGAS — GLM Cabinets has purchased an industrial building located within Matter Business Park @ Warm Springs in Las Vegas. Matter Business Park @ Warm Springs sold the asset for $2.1 million. Located at 7930 W. Warms Springs, Suite 170, the property features 12,878 square feet of industrial space. Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Colliers International represented the seller in the deal.

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AcquisitionsCaliforniaRetailWestern

Duhs Commercial Brokers $8M Sale of Two Retail Buildings in Oceanside, California

by Amy Works

OCEANSIDE, CALIF. — Duhs Commercial has arranged the sales of two retail buildings located in Oceanside for a total of $8 million. In the first transaction, an undisclosed buyer acquired a 3,000-square-foot retail space at 1888 Oceanside Blvd. for $2.6 million. Austin Dias and Rick Wu of Duhs Commercial represented the buyer in the acquisition and lease to 7-Eleven, while Henry Lee of Autowash Brokers represented the undisclosed seller in the deal. Andrew Pierson of Cushman & Wakefield represented the tenant in the lease transaction. In the second deal, Dias and Wu arranged the $5.4 million sale of a 2,450-square-foot retail space at 1990 Oceanside Blvd. Henry Lee of Autowash Brokers represented the undisclosed lessee of the property.

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