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AcquisitionsIllinoisMidwestMultifamily

Draper and Kramer Acquires 263-Unit Luxury Apartment Community in Oak Park, Illinois

by Kristin Harlow

OAK PARK, ILL. — Draper and Kramer Inc. has acquired Eleven33 in Oak Park, about 10 miles west of downtown Chicago. The luxury apartment community rises 12 stories with 263 units. Draper and Kramer will also assume management of the property, which is located at 1133 South Blvd. across from the CTA’s Harlem/Lake Green Line station as well as Metra’s Oak Park station on the Union Pacific West Line. Completed in 2019, Eleven33 is currently 95 percent leased and has averaged 94.4 percent occupancy since January 2024. Floor plans come in studio, one-, two- and three-bedroom layouts ranging from 512 to 1,500 square feet. Monthly rents start at $1,945. Amenities include a fitness center, parlor area with billiards table, two conference rooms, a clubroom, bike storage, sun deck, pet washing stations, indoor dog run and parking garage. Newmark represented the undisclosed seller. Draper and Kramer did not have broker representation.

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DevelopmentKansasMidwestRetail

Kansas Museum of History Reopens Following $6M Renovation

by Kristin Harlow

TOPEKA, KAN. — After being closed for three years, the Kansas Museum of History has reopened in Topeka. The $6 million renovation, which marked the first major update of exhibits since the museum’s debut in the 1980s, includes a fully reimagined, 20,000-square-foot gallery. Kansas City-based Dimensional Innovations (DI) served as designer, fabricator and installer for the project. DI worked closely with the Kansas Historical Society, which operates the facility.

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The LEGO Group
DevelopmentIndustrialSoutheastVirginia

LEGO Group Breaks Ground on $360M Regional Distribution Center in Virginia

by Abby Cox

PRINCE GEORGE COUNTY, VA. — The LEGO Group has broken ground on its new 2 million-square-foot regional distribution center in Prince George County near Richmond. The $360 million project will complement the LEGO Manufacturing Virginia facility that is underway in nearby Chesterfield County. Both facilities are scheduled to open in 2027 and will allow the company to reduce lead times, respond faster to shifts in demand, shorten the supply chain and slash its environmental impact. The new facility, which marks LEGO’s sixth distribution center worldwide and second in the United States, will feature advanced automation and will use 100 percent renewable energy to power the site to meet LEED Gold certification. The company also aims to achieve WELL Certification, which certifies buildings for improving the health and well-being of its occupants. The LEGO Group previously announced a build-to-suit lease for the new distribution center  with Crosspointe Commerce Center, a joint venture between Hillwood Investment Properties and The Silverman Group. A third-party logistics provider will operate the facility, which is expected to create more than 300 jobs once opened, according to company representatives.

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Xscape Theatres
AcquisitionsMarylandRetailSoutheastVirginia

Finmarc Management Acquires Two Movie Theater Properties in Maryland, Virginia for $15.1M

by Abby Cox

CENTREVILLE, VA. AND BRANDYWINE, MD. — Bethesda, Md.-based Finmarc Management has acquired a pair of retail properties leased by national movie operators in Virginia and Maryland for $15.1 million. EPR Properties was the seller. The first property, which spans 72,821 square feet, is located roughly 25 miles west of Washington, D.C., at 6201 Multiplex Drive in Fairfax County, Va. Cinemark Centreville fully leases the building, which features 12 screens. The second property is situated at 7710 Matapeake Business Drive in Brandywine and totals 60,000 square feet. The 14-screen theater is fully leased to Xscape Theatres.

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7555-wood-road
AcquisitionsGeorgiaIndustrialSoutheast

Lee & Associates Negotiates Sale of 335,613 SF Industrial Facility in Metro Atlanta

by Abby Cox

DOUGLASVILLE, GA. — Lee & Associates has negotiated the sale of a 335,613-square-foot industrial facility located at 7555 Wood Road in the Atlanta suburb of Douglasville. The property features modern construction elements, high clear heights, multiple dock positions and functional warehouse space that can accommodate a variety of industrial users. The asset’s location also provides direct access to I-20 and I-285, as well as various regional transportation networks. Approximately 27,917 square feet of the facility is now available for lease. Billy Snowden of Lee & Associates represented the buyer in the transaction. Both the buyer and seller requested anonymity.

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EmergeOrtho Southpoint
HealthcareNorth CarolinaSoutheast

CBRE Arranges Sale of 35,171 SF Medical Outpatient Building in Durham

by Abby Cox

DURHAM, N.C. — CBRE has arranged the sale of EmergeOrtho Southpoint, a 35,171-square-foot medical outpatient building (MOB) and ambulatory surgery center (ASC) located within the larger Westpoint development in Durham. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Jesse Greshin, Tom Fritsch and Joe Graham of CBRE represented the seller. Both the buyer and seller requested anonymity. EmergeOrtho Southpoint serves as a comprehensive orthopedic care center and is fully occupied by EmergeOrtho, North Carolina’s largest orthopedic group, and its affiliate Southpoint Surgery Center, which is a joint venture between EmergeOrtho and Surgery Partners. The remaining lease term for the building is more than 13 years. The property, which was constructed in 2020, features two operating rooms and four procedure rooms.

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Powder-Creek-Ranch-Bonham-Texas
DevelopmentMixed-UseTexasTop Stories

Partnership Unveils Plans for 400-Acre Mixed-Use Development in Bonham, Texas

by Taylor Williams

BONHAM, TEXAS — A partnership between developer Sanchez & Associates and the Bonham Economic Development Corp. (BEDCO) has unveiled plans for Powder Creek Ranch, a 400-acre mixed-use development. Powder Creek Ranch will be the first master-planned community in Bonham, located about 75 miles northeast of Dallas via Texas Highway 121. The site is located near the intersection of State Highways 121 and 56 on the city’s southwest side. The land previously served as a 1960s-era ranch and was owned by longtime Bonham resident Joe Kirkpatrick. Powder Creek Ranch will be developed in seven phases over an approximately 10-year period. The development will ultimately feature 3,000 new residential units via a mix of single-family residences, townhomes, build-to-rent homes (BTR) and apartments. Phase I, encompassing 73 acres, will include 205 multifamily units and a blend of single-family and BTR homes. The groundbreaking is slated for late 2026. Future phases will introduce retail, restaurant and office uses along with public parks, trail systems and open spaces that will enhance community walkability. The Bonham City Council has also approved the creation of the Powder Creek Ranch Public Improvement District to finance core infrastructure and support the community’s long-term development. “Powder Creek Ranch represents a significant …

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GeorgiaMarket ReportsMultifamilySoutheastSoutheast Market Reports

Atlanta Multifamily Market: Signs of a Recovery After a Sharp Downturn

by John Nelson

Atlanta’s multifamily market has been in a slump that would even make Braves fans wince. After peaking with record-breaking sales in 2021, volumes slid as borrowing costs climbed and supply piled up. But just like any good ballclub, the fundamentals matter, and the data suggests momentum is quietly building for a 2026 comeback season. Sales volume trends According to research from CoStar Group, institutional multifamily sales in Atlanta (transactions of $50 million or more) peaked in 2021 at $12.8 billion, driven by record pricing, historically low borrowing costs and robust rent growth. Since then, record supply, rising expenses and a sharp increase in borrowing costs have pushed sales volumes down by more than 70 percent, averaging just $3.5 billion annually over the past three years. While the broader U.S. economy has surged since 2022 — the S&P 500 has climbed 45 percent since fourth-quarter 2022 — commercial real estate has been searching for its bottom. Data now suggests that Atlanta has reached this inflection point, and history indicates increased activity and rising values in the years ahead. Parallels to the GFC Looking back at the global financial crisis (GFC) provides valuable context. The chart above (inflation-adjusted using Real Capital Analytics’ …

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Paseo-Austin
DevelopmentMultifamilyTexas

LV Collective Completes 48-Story Apartment Tower in Downtown Austin’s Rainey Street District

by Taylor Williams

AUSTIN, TEXAS — Locally based multifamily and student housing developer LV Collective, formerly known as Lincoln Ventures, has completed Paseo, a 48-story apartment tower located at 80 Rainey St. in downtown Austin. Paseo offers 557 units in studio, one-, two- and three-bedroom floor plans, as well as four penthouses and a pool, deck and bar on the 12th floor with views of Lady Bird Lake. Residents also have access to a ground-level café and bar, a fitness center with a yoga studio, cold plunge and saunas and two floors of coworking space with private pods and conference rooms. Construction began in early 2023. Leasing launched in August, at which point monthly rents started in the $1,900s for a studio apartment.

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AcquisitionsMultifamilyTexas

Lone Star Funds Sells Three West Texas Multifamily Properties Totaling 606 Units

by Taylor Williams

LUBBOCK AND MIDLAND, TEXAS — Lone Star Funds has sold three unnamed multifamily properties totaling 606 units in West Texas. Two of the properties totaling 392 units are in Lubbock and were completed in 2004. The third property, which was built in 2013 and totals 214 units, is located in Midland. Lone Star acquired the assets in 2022 and implemented capital improvements during its ownership period. The properties sold to three separate buyers that requested anonymity.

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