Friday, July 3, 2026
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ColoradoDevelopmentMultifamilyWestern

Garrett Cos. Breaks Ground on 163-Unit Multifamily Property in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — The Garrett Cos., as developer and contractor, has begun construction on a multifamily development in Colorado Springs. Ware Malcomb’s Denver and Chicago offices are providing architecture and civil engineering services for the project. Situated on 7.2 acres at the intersection of Barnes Road and Rio Vista Street, the garden-style property will offer 163 apartments in a mix of one-, two- and three-bedroom layouts. Each unit will have a full-sized washer/dryer. Community amenities will include a resort-style pool and spa with cabanas, a fitness center, dog park, clubhouse with lounge, billiards and arcade games and coworking and private office spaces.

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AcquisitionsIndustrialWashingtonWestern

Marcus & Millichap Brokers Sale of 31,000 SF Industrial Property in Woodinville, Washington

by Amy Works

WOODINVILLE, WASH. — Marcus & Millichap has arranged the sale of The Junction, an industrial facility in Woodinville. A limited liability company sold the asset to an undisclosed buyer for $10.5 million. Located at 19151 144th Ave. NE, the 31,000-square-foot The Junction is 93 percent leased to a variety of tenants, including fast food, auto care and tasting rooms. John Marks and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal.

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Burlington-BioCenter
AcquisitionsLife SciencesMassachusettsNortheast

Newmark Brokers Sale of 109,085 SF Life Sciences Building in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — Newmark has brokered the sale of Burlington BioCenter, a 109,085-square-foot life sciences building located on the northwestern outskirts of Boston. Originally completed in 2019 with its interior laboratory build-outs finalized in 2022, the building features high-performance laboratory infrastructure and HVAC systems, a backup power source and dedicated loading areas, as well as a two-story lobby. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal. The buyer and seller were not disclosed.

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DevelopmentIllinoisMidwestRetail

Chicago Blackhawks Reveal Expansion Plans, Renderings for Fifth Third Arena

by Kristin Harlow

CHICAGO — The NHL’s Chicago Blackhawks have revealed renderings for the forthcoming expansion of Fifth Third Arena. Originally opened in 2017, the facility has been undergoing renovations since May 2024. When complete in January 2026, the venue will boast more than 250,000 square feet of community hockey space and training facilities. The Blackhawks estimate that Fifth Third Arena will welcome more than 1.5 million guests per year and impact economic growth on Chicago’s West Side, solidifying the arena as a destination for youth and amateur hockey alongside new offerings for Blackhawks fans. The arena will connect to the United Center campus’ forthcoming 1901 Project. The facility remains the official training home to the Blackhawks and will also become the permanent home of Chicago Steel, the region’s United States Hockey League that was acquired by Wirtz Corp. in 2023. The expansion will transform Fifth Third Arena from a hockey facility into a versatile venue that can host events of all sizes and year-round programming. Championship Arena, one of the two new rinks, will offer stadium-style seating and hospitality areas for 2,000 spectators. As the future new home of the Chicago Steel, the arena will feature a center scoreboard, video ribbon boards …

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DevelopmentIndianaMidwestMultifamily

Keystone Group to Add 57 Units to $124M Office-to-Residential Conversion Project in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Keystone Group is adding 57 new luxury apartments to its $124 million office-to-residential conversion project at 220 Meridian Tower, the former AT&T office located near Monument Circle in Indianapolis. Scheduled for completion in summer 2026, the additional units will range from studios to two-bedroom floor plans. Construction has commenced, following AT&T’s lease that ended on May 31. Plans call for additional outdoor deck amenities, including a dog park, and six units that will feature private patio spaces. With these additions, a total of 273 units will be brought to market. As part of the continued development, 220 Meridian Tower will also welcome Harmony Steakhouse, an Indianapolis-based Japanese-style steakhouse slated to open this month.

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DevelopmentMidwestMinnesotaMixed-Use

Ryan Cos. Breaks Ground on $68M Housing, Retail Components of Highland Bridge Mixed-Use Project in St. Paul

by Kristin Harlow

ST. PAUL, MINN. — Ryan Cos. US Inc., in partnership with the Housing and Redevelopment Authority (HRA) for the City of St. Paul, has broken ground on new housing and retail components of Highland Bridge, a 122-acre mixed-use development at the former site of Ford Motor Co.’s Twin Cities assembly plant. The $68 million project is expected to be substantially completed by November 2026. The nearly 3-acre site at the intersection of Cretin Avenue and Ford Parkway in the city’s Highland Park neighborhood will feature five buildings. Plans call for a 97-unit multifamily building with 8,500 square feet of ground-floor retail space, three standalone retail buildings totaling 14,000 square feet and a 13,000-square-foot daycare center. The project also includes a two-level parking ramp and pedestrian access. Amenities of the apartment building will include a clubroom, outdoor patio, fitness room, coworking enclaves, a roof deck patio and secured package room. The initiative is a public-private partnership supported by the City of St. Paul and the HRA, which provided tax-increment financing (TIF) from existing TIF district budget savings. Ryan is serving as developer, builder and designer. Completed developments at Highland Bridge include The Collection, a 230-unit apartment building with a flagship Lunds …

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AcquisitionsIllinoisIndustrialMidwest

Marcus & Millichap Negotiates $13M Sale of Flex Industrial Property in Suburban Chicago

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has negotiated the $13 million sale of a 111,667-square-foot flex industrial property in the Chicago suburb of Arlington Heights. Built in 1990, the facility at 545 E. Algonquin Road is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85 percent of the space and has been a tenant since 2004. GigeNET, a provider of dedicated cloud, hybrid and colocation hosting solutions, occupies the remaining space and has operated at the facility since 2006. Peter Doughty of Marcus & Millichap represented the seller, a private investor. The undisclosed buyer purchased the property at the full list price.

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AcquisitionsMichiganMidwestRetail

Friedman Brokers $3.9M Sale of Former First Independence Bank Building in Detroit

by Kristin Harlow

DETROIT — Friedman Real Estate has brokered the $3.9 million sale of the former First Independence Bank building located at 100 Michigan Ave. in Detroit. The retail building totals 20,756 square feet. Andrew Bower, Steve Eisenshtadt and Peter Jankowski of Friedman represented the seller. Buyer and seller information was not released.

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Affordable HousingLeasing ActivityMultifamilyNew JerseyNortheast

Walters Completes Lease-Up of 34-Unit Affordable Housing Complex in Manahawkin, New Jersey

by Taylor Williams

MANAHAWKIN, N.J. — New Jersey-based developer Walters has completed the lease-up of Cornerstone at Grassy Hollow II, a 34-unit affordable housing complex located in the coastal city of Manahawkin. Leasing began last fall. The four-building property, which is now fully occupied, offers one-, two- and three-bedroom units that are reserved for renters earning 60 percent or less of the area median income. Physical amenities include a fitness center, children’s play area, basketball court and a clubhouse with a computer workstation. Residents also have access to afterschool programs, special interest clubs and a food pantry program, as well as career readiness, eviction prevention and other social services.

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AcquisitionsDelawareIndustrialNortheast

SVN | Miller Negotiates $4.2M Sale of Industrial Building in Seaford, Delaware

by Taylor Williams

SEAFORD, DEL. — SVN | Miller Commercial Real Estate has negotiated the $4.2 million sale of a 61,900-square-foot industrial building located in Seaford, a city in central Delaware. The new owner is leasing the space at 6063 Whitehurst Drive to its affiliated company, fencing manufacturer Patriot Aluminum. The McClellan Team at SVN | Miller represented the seller in the transaction, and the firm’s Flo Brotzman represented the buyer, an entity doing business as MKJ Properties LLC.

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