ENCINITAS, CALIF. — RPG has acquired a 4,939-square-foot multi-tenant retail property located in Encinitas, roughly 25 miles north of downtown San Diego. The building was fully leased at the time of sale to five tenants, including three retailers and two restaurants. The seller and terms of the transaction were not released.
GREENFIELD, IND. — MDH Partners has acquired 70 Connect III, a 1 million-square-foot industrial building in Greenfield within metro Indianapolis. Developed by Lauth on a speculative basis, the property sits along West 350 North in the East industrial submarket. JLL represented the seller. MDH’s Houston Hawley led the acquisition for the firm. The cross-docked building features a clear height of 40 feet, 108 dock doors expandable to 216, four drive-in doors, an ESFR sprinkler system and 8-inch slabs. MDH will complete a capital improvement program that will double trailer parking from 115 spaces to roughly 230 positions, expand the speculative office and complete a full interior and exterior repaint along with other improvements, delivering a move-in-ready building for a large user. JLL’s Brian Buschuk and Brian Seitz will handle leasing for MDH.
LANSING, ILL. — Interra Realty has arranged the $12.6 million sale of the Hickory Oaks apartment complex in Lansing, about 25 miles south of downtown Chicago. Interra’s Michael Duckler represented the buyer, SpringView Investments, and the undisclosed seller. The 138-unit property presents a value-add opportunity, with in-place rents approximately 25 percent below market. The asset features eight garden-style buildings across 3 acres. There are 84 two-bedroom units, 52 one-bedroom units and two studios. Duckler is now employed with Greenstone Partners.
EAST DUNDEE AND MOKENA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a three-building, 131,998-square-foot industrial portfolio in metro Chicago. The portfolio, which was fully leased at the time of sale, consists of single and multi-tenant properties that are home to five tenants. Two properties are in East Dundee: 160 Windsor Drive totals 40,764 square feet while 170 Prairie Lake Road totals 38,413 square feet. Both were constructed in 2001. In Mokena, 9645 Willow Lane is a single-tenant building totaling 52,821 square feet. It was built in 1979 and renovated in 2018. Joe Horrigan, Zach Graham and Ryan Bain of CBRE represented the seller. VK Industrial VII is co-sponsored by Venture One and Focus Partners Wealth.
FINDLAY, OHIO — Bernard Financial Group (BFG) has secured a $5.6 million acquisition loan for a 112,396-square-foot industrial facility in Findlay, about 40 miles south of Toledo. Joshua Bernard of BFG arranged the permanent life insurance company loan. The borrower was BKG Dominion 1900 Industrial LLC.
By Tony Avendt, Cushman & Wakefield At first glance, Detroit’s industrial real estate market appears to be entering a period of moderation. Vacancy has crept upward, new supply continues to trickle online and recent quarters have posted negative absorption. Yet beneath these headline indicators lies a more complex — and arguably more resilient — story. The numbers alone do not fully capture how tenant behavior, shifting supply dynamics and a growing pool of “shadow space” are reshaping the market in subtle but meaningful ways. As of the first quarter of 2026, metro Detroit’s industrial vacancy rate stood at 4.1 percent, marking the 11th consecutive quarterly increase and the highest level since 2015. Even so, the market remains significantly tighter than the national average of approximately 7 percent, reinforcing Detroit’s position as one of the more supply-constrained industrial markets in the U.S. Rental performance tells a similarly stable story. Net average asking rents reached $7.40 per square foot in the first quarter — a 2.1 percent year-over-year increase and the highest level since late 2023. While rent growth has moderated from earlier peaks, landlords have largely maintained pricing power, particularly for well-located, modern distribution facilities. Still, the market is recalibrating after …
NEW YORK CITY — The Domain Cos. has secured $175.6 million in financing from Wells Fargo for the development of a new multifamily project in the Astoria neighborhood of Queens. Canyon Partners Real Estate and BLDG Management are Domain’s equity partners on the deal. Chris Peck and Nicco Lupo of JLL Capital Markets arranged the construction financing on behalf of Domain. Dubbed Elara, the new development will total 429 apartments. The property will include an 18-story building with 330 units — Elara East — and a 12-story building with 99 units — Elara West. Of the apartments, 107 units, or 25 percent, will be designated as permanently affordable housing. Amenities at Elara will include fitness centers, coworking spaces, a screening room, listening lounge, gaming room with a golf simulator, children’s playroom, dog wash station, outdoor courtyards and a rooftop terrace. The property will also feature 4,000 square feet of retail space. Good Co. will market and lease the residential units on behalf of the ownership, and Igloo will handle marketing and leasing for the commercial spaces. VOREA Construction Group, a subsidiary of Domain, will serve as the general contractor. Domain acquired the company in 2025. Founded in 2004, Domain is headquartered …
By Emily Buchanan of Gensler For decades, healthcare delivery was something that happened somewhere else: a hospital campus on the edge of town, a medical office park behind a parking garage, a clinic that required a car and a calendar. Today, patient expectations have shifted. Health systems chase convenience, and outpatient facilities are moving closer to where people live. For mixed-use developers, that shift represents one of the most compelling value propositions available: healthcare not as a use, but as an amenity. The case isn’t complicated. Locating outpatient clinics within a mixed-use development improves quality of life for residents, provides healthcare tenants with a stable and captive patient base and gives medical staff a commute that doesn’t erode the beginning and end of every shift. When all three outcomes land in the same project, developers are not just filling square footage; they are building a functioning community. Developer’s perspective Healthcare tenants are, by almost every measure, among the most valuable tenants a mixed-use developer can attract. They sign long-term leases, they withstand economic downturns, and they generate consistent daily foot traffic that benefits the retail and food-and-beverage tenants around them. Pharmacies, fitness studios and cafés thrive when an outpatient clinic …
GAINESVILLE, TEXAS — A partnership between B-29 Investments and Hughes Commercial has broken ground on Camp Howze Industrial Rail Park, a 489-acre industrial park in Gainesville, located north of the metroplex in Cooke County. Located along I-35 and U.S. Highway 82, the master-planned development could ultimately feature as much as 7 million square feet of industrial space across 14 buildings. Camp Howze Industrial Rail Park will be able to accommodate users with requirements from 50,000 to 1 million square feet and will also offer build-to-suit facilities for lease or purchase. BNSF Railway is constructing a rail connection that will provide direct service to the park, with service expected to commence in the second quarter of 2027. Stream Realty Partners is leasing the development.
ARLINGTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Flintridge, a 188-unit, garden-style apartment complex in Arlington. Built in 1979, Flintridge offers one- and two-bedroom units with an average size of 743 square feet and amenities such as a pool, clubhouse, business center and onsite laundry facilities. Michael Ware, Drew Kile, Joey Tumminello and William Hubbard of IPA represented the seller, an undisclosed lender, in the transaction and procured the buyer, Apogee Capital.
