Property Type

Opus Completes 131,578 SF Dayton Parkway Business Center in Minnesota

by Kristin Harlow April 17, 2025

DAYTON, MINN. — Opus has completed Dayton Parkway Business Center in Dayton near I-94. The 131,578-square-foot speculative distribution and light manufacturing facility is located at 17800 Territorial Road. The project included tenant improvements for TurbinePROs, a field services provider for rotating equipment at power generation and process plants. TurbinePROs is the first tenant at Dayton Parkway Business Center and is leasing 87,597 square feet, including 12,000 square feet of office space. The new space replaces the company’s 30,000-square-foot home in Rogers. TurbinePROs is currently transitioning into its new location and will be fully operational by the end of the month. Dayton Parkway Business Center’s remaining 43,091 square feet offers prospective tenants six dock doors, two drive-in doors, a clear height of 32 feet, 115 vehicle parking stalls and 14 trailer parking stalls. Opus was the developer, design-builder and architect. Dan Swartz and Austin Lovin of CBRE are marketing the remaining space for lease.

April 17, 2025

Leasing Activity Midwest Missouri Office

Baker Sterchi Cowden & Rice Signs 22,800 SF Office Lease at Deloitte Building in St. Louis

by Kristin Harlow April 17, 2025

ST. LOUIS — Baker Sterchi Cowden & Rice LLC, a civil litigation defense and trial law firm, has signed a 22,800-square-foot office lease to occupy the entire ninth floor of the Deloitte Building in downtown St. Louis. The firm is relocating from 100 North Broadway. Owner Stanton Road Capital (SRC) is delivering The Outpost, its tenant amenity package, at the Deloitte Building. Scheduled for completion by the end of the year, The Outpost will include a fully modernized fitness center, 100-person conference facility, Wi-Fi-enabled tenant lounge and fresh grab-and-go food-and-beverage options. With the new lease, there has been 72,800 square feet of leasing activity at the Deloitte Building in the last six months. Brandon Wappelhorst, Nick Fiquette and Tom Bajardi of Sansone Group represented SRC in the lease with Baker Sterchi Cowden & Rice. Rick Messey and Rollie Fors of CBRE represented the tenant.

April 17, 2025

Development Illinois Industrial Loans Midwest Office Self-Storage

Byline Bank Provides $9.2M Loan for Office Conversion Project in Lombard, Illinois

by Kristin Harlow April 17, 2025

LOMBARD, ILL. — Byline Bank’s Commercial Real Estate Group has provided a $9.2 million loan for the conversion of a 103,109-square-foot office building into self-storage space in the Chicago suburb of Lombard. LSC Development is the developer and borrower. The building, located at the intersection of I-355 and North Avenue, will be transformed into 67,853 square feet of climate-controlled self-storage space with 64 secured surface parking spaces for both RVs and regular vehicles across 14,800 square feet. Two loading docks with overhead doors will also be installed. The project is slated for completion in the first half of 2026. Law firm Blank Rome represented Byline Bank, while Duggan Bertsch LLC represented LSC Development.

April 17, 2025

Alabama Development Industrial Southeast

Farpoint Signs Automotive Supplier to 168,000 SF Industrial Lease at REAL Park in Tuskegee, Alabama

by John Nelson April 17, 2025

TUSKEGEE, ALA. — Farpoint Development has signed Samkwang Co. to a full-building lease at Building 100, a 168,000-square-foot industrial facility located within the Regional East Alabama Logistics (REAL) Park in Tuskegee. The South Korea-based tenant is a manufacturer and supplier to automotive giants such as Kia and Hyundai, which operate plants in both directions of REAL Park via I-85. Samkwang also manufactures electronics products for companies including Samsung. Situated off exit 42 on I-85 in east Alabama’s Macon County, Building 100 is the first facility within Farpoint’s 700-acre logistics park, which will span 7 million square feet of Class A industrial space upon completion. The Chicago-based developer delivered the facility in May 2023. Opportunity Alabama (OPAL) assisted in the landmark deal with Samkwang, which is expected to create hundreds of jobs in the region. William Wilson of Jim Wilson & Associates arranged the lease transaction.

April 17, 2025

Acquisitions Midwest Missouri Retail

FNRP Acquires Schnucks-Anchored Shopping Center in Florissant, Missouri

by Kristin Harlow April 17, 2025

FLORISSANT, MO. — First National Realty Partners (FNRP) has acquired Florissant Marketplace, a grocery-anchored shopping center in the St. Louis suburb of Florissant. The property is 98 percent leased and anchored by a 70,262-square-foot Schnucks store. The grocer, which maintains over 115 stores in the Midwest, has operated at Florissant Marketplace for more than 20 years. Additional tenants include Crunch Fitness, Pet Supplies Plus, Wing Stop and AT&T. Current inline tenants have a weighted average tenure exceeding 11 years. Chase Young of CBRE represented the undisclosed seller. FNRP now owns four grocery-anchored centers totaling over 950,000 square feet in Missouri. All are located within metro St. Louis.

April 17, 2025

Acquisitions Alabama Southeast Student Housing

Tailwind Group Acquires 576-Bed Student Housing Community Near Auburn University

by John Nelson April 17, 2025

AUBURN, ALA. — Tailwind Group has acquired The Beacon, a 576-bed student housing community located near the Auburn University campus in Alabama. Ryan Lang of Newmark brokered the acquisition of the property from an undisclosed seller. The sales price was not released. The garden-style community offers 180 units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include shuttle service to campus, a pet park, swimming pool, sundeck, outdoor grill station, 24-hour fitness center, outdoor fireplace, sand volleyball court, computer lab, study room, coffee bar and a package room. The new ownership plans to renovate the community this fall, with updates planned for the clubhouse as well as shared amenity spaces and the property’s exterior. The community will also be rebranded The Quarters Auburn.

April 17, 2025

Florida Georgia Industrial Loans North Carolina Southeast

McCraney Property Obtains $55M Refinancing for Southeast Industrial Portfolio

by John Nelson April 17, 2025

ORLANDO, FLA. — McCraney Property Co. has obtained three loans totaling $55 million for the refinancing of a Class A industrial portfolio in the Southeast. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL arranged the three non-recourse loans on behalf of the Orlando-based industrial developer. The direct lenders were not disclosed. Built between 2023 and 2024, the portfolio includes 41 Logistics in Adairsville, Ga. (390,498 square feet); Royal Palm Logistics in Royal Palm Beach, Fla. (128,684 square feet); and Davidson 85 in Concord, N.C. (146,628 square feet). The portfolio was 94.7 percent leased at the time of financing to a diverse tenant roster. The refinancing comprised a $25.8 million loan for 41 Logistics, a $16 million loan for Royal Palm Logistics and a $13.2 million loan for Davidson 85.

April 17, 2025

Acquisitions Affordable Housing Louisiana Multifamily Southeast

VPG Holdings, ASCP Purchase 250-Unit Affordable Housing Community in New Orleans

by John Nelson April 17, 2025

NEW ORLEANS — VPG Holdings and American South Capital Partners (ASCP), which is a joint venture between SDS Capital Group and Vintage Realty Co., has acquired The Marquis, a 250-unit affordable housing community located at 2651 Poydras St. in New Orleans. The seller and sales price were not disclosed. The Marquis was built in 2009 and features a mix of one-, two-, three- and four-bedroom apartments, with most units reserved for tenants earning less than 60 percent of the area median income (AMI). VPG and ASCP plan to fund deferred maintenance and interior improvements at The Marquis, with the focus on implementing more energy and water efficient appliances including water heaters, dishwashers, refrigerators and air conditioners.

April 17, 2025

Civic Leasing Activity New York Northeast

Kaplan Career Academy Signs 38,500 SF Lease in Wappingers Falls, New York

by Taylor Williams April 17, 2025

WAPPINGERS FALLS, N.Y. — Kaplan Career Academy has signed a 15-year, 38,500-square-foot lease in Wappingers Falls, about 85 miles north of New York City. The school, which is part of the Greenburgh North-Castle Union Free School District, will relocate from nearby New Windsor to the building at 29 Marshall Road. The new space will serve as the new home for the Special Act School, which serves students with disabilities. Stephen Powers, Alexander Smith and Kate Whitman of OPEN Impact Real Estate represented Kaplan Career Academy in the lease negotiations. Thylan Associates represented the undisclosed landlord.

April 17, 2025

Leasing Activity New Hampshire Northeast Restaurant Retail

Three New Retailers to Join Tuscan Village in Salem, New Hampshire

by Taylor Williams April 17, 2025

SALEM, N.H. — Three new retailers will join the tenant roster at Tuscan Village, a 170-acre mixed-use development in Salem that is a redevelopment of the former Rockingham Park horseracing complex. Grocer Whole Foods Market, eyewear provider Warby Parker and ice cream maker Salt & Straw will all open new stores at Tuscan Village in 2025. Square footages of spaces were not disclosed.

April 17, 2025

Newer Posts

Older Posts