CHICAGO — Sterling Bay and Affinius Capital have completed Pulaski 55 Logistics Center, an industrial facility located at 4510 W. Ann Lurie Place in Chicago’s Archer Heights neighborhood. The 147,500-square-foot property is situated within Crawford Industrial Park with convenient access to I-55, I-94 and downtown Chicago. The project is located in an Enterprise Zone with an approved 6B real estate tax incentive, providing financial relief for future tenants. Pulaski 55 Logistics Center features 10 loading docks, 102 car parking spaces and adjacent retail options. The project is certified LEED Silver. Colliers is handling leasing efforts for the property.
LIBERTY, MO. — Block & Co. Inc. Realtors has completed the lease-up of Crossroads Shopping Center in the Kansas City suburb of Liberty. The most recent lease transactions were with Total Wireless and Frame It. Additional tenants include Savers, Curves, Sugar Kittens Cat Café & Cattery, Palen Music Center, Dollar General, Pizza Hut and Mi Hacienda. Daniel Brocato and Phil Peck of Block & Co. are the leasing agents for the property.
INDIANAPOLIS — Skender has completed interior construction on a new 15,370-square-foot office for advisory, tax and assurance firm Baker Tilly in Indianapolis. Located at 9229 Delegates Row within the 19-story Keystone Office Park, the workspace features a mix of private offices, open workstations, collaboration areas, conference rooms and a lounge/café. Notable elements include water vapor fireplaces accented by swinging lights, cutting-edge audio/visual technology and integrated security systems. Skender completed the build-out in 21 weeks. Partners by Design served as architect, a d a Design Associates provided design services, COFCO provided furniture, Automation Arts completed audio/visual technology and Southern Lighting designed the lighting.
WAYNE, NEB. — Darland Construction Co. has completed a renovation and addition for Providence Medical Center (PMC), a critical access hospital in Wayne. The first phase of the project included a 20,000-square-foot addition on the hospital’s south side, designed to accommodate the rapidly expanding imaging and specialty outpatient services. The second phase included a new campus main entry and central registration, consolidating radiology services into a unified location. A new concourse connects this area to the remodeled spaces. A dedicated outpatient clinic houses infusion rooms, stress testing, psychiatry, counseling and staff support areas. Following the completion of the addition, Darland transitioned to a 20,000-square-foot remodel, transforming the surgical suite with two new operating rooms, converting an existing OR into an endoscopy suite and adding private pre-op and recovery spaces. Areas for materials management, wound care, cardiac rehab and administrative offices were also updated. A third phase included the installation of a supplemental air handling unit and a renovation of the hospital’s pharmacy.
FREEHOLD, N.J. — JLL has arranged a loan of an undisclosed amount for the refinancing of a 71,511-square-foot industrial building in the Central New Jersey community of Freehold. The multi-tenant building at 6 Paragon Way, which was fully leased at the time of the loan closing, features a clear height of 30 feet, seven dock-high doors and parking for 188 cars and 22 trailers. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the five-year loan through TriState Capital Bank on behalf of the borrower, The Donato Group.
DOYLESTOWN, PA. — Whole Foods Market has opened a 43,617-square-foot store at 1745 S. Easton Road in Doylestown, a northern suburb of Philadelphia. The store features full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section, as well as a selection of more than 750 wines and 280 craft beers. A grand opening celebration was held this morning.
NEW YORK CITY — Avis Budget Group has signed a 21,400-square-foot retail lease in The Bronx. The car rental agency has committed to the property at 4075-4077 Boston Road, which includes a 16,000-square-foot lot, for the next 20 years. Steve Lorenzo and Garry Steinberg of Lee & Associates represented the tenant in the lease negotiations. Ariel Castellanos and Federico Mazzeo from Pinnacle Realty represented the landlord.
By Lance Evinger III, Hendricks Commercial Properties In an era where consumers seek more than just products, experience-driven spaces are reshaping the commercial real estate landscape. In Indianapolis, developers and urban planners are increasingly focused on transforming some of the city’s most underutilized yet high-potential areas into dynamic destinations that foster engagement, connection and excitement. Indianapolis boasts a diverse and rapidly evolving commercial real estate market that continues to attract significant investment and development. Key sectors — including office, industrial, retail and mixed-use developments — have experienced steady growth, with a strong focus on adaptive reuse projects and innovative design concepts. The city’s strategic central location, robust infrastructure and thriving convention scene make it a prime destination for businesses and developers alike. Named USA Today’s No. 1 Convention City in the U.S. in 2024, downtown Indianapolis attracts over 10 million visitors annually, a number that continues to grow. In the past year, downtown hotels have set all-time monthly revenue records, fueled by major events like the NFL Combine and NBA All-Star Weekend. At the same time, the Indiana Convention Center has seen a 14.5 percent year-over-year increase in visitors, further cementing the city’s reputation as a top-tier event destination. With …
By Taylor Williams SAN ANTONIO — Automotive parts manufacturers and data center operators both represent major sources of demand for industrial space in San Antonio, as well as major consumers of electrical resources. Both sets of users are increasingly prioritizing access to cheap, abundant electricity in their site selection and other real estate decisions. But that’s about where their similarities end. For the automotive industry has been a source of job growth and retention in the San Antonio area for decades, whereas data centers are a relatively new phenomenon that offer minimal contributions to local employment. And in between the two on the spectrum of industrial end users are third-party distribution and logistics companies, which really represent the market’s bread-and-butter tenant. But these groups typically don’t have such taxing power demands. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. For data center developers and users, the need and demand for affordable, plentiful power is nothing new. And the fact that Texas has long had its own deregulated power grid has contributed mightily to the state landing many of those …
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JLL: U.S. Retail Sector Remains Optimistic as Market Conditions Shift
CHICAGO — Retail closures are at a cyclical high, totaling a whopping 9,900 business shutdowns in 2024, according to JLL’s fourth-quarter 2024 retail report entitled “United States Retail Market Dynamics.” For the first time in several years, store closures outpaced store openings in a calendar year. Fabric and crafts retailer JOANN, who filed for Chapter 11 bankruptcy protection twice within a year, is shuttering all 800 stores, while major department store chain Macy’s will close 150 stores over the next three years, with 66 closures anticipated in 2025 alone. The highest number of store closures resulted from discount and dollar stores like Family Dollar, CVS Health and Big Lots, as well as specialty retailers like Party City. Retail closures are represented across different size brackets, with more than 55 percent of announced closures identifying with footprints ranging from 5,000 square feet to 20,000 square feet. Expanding retailers such as Dollar General, O’Reilly Automotive and Five Below align with these vacant boxes, while larger, major closures like Bed Bath & Beyond and Toys “R” Us occupy more “desirable” locations. On the flip side, between 2024 and 2025, there were roughly 7,700 new retail store openings announced. Nearly 3,000 of these openings …