Property Type

Kiser Group Brokers Sales of Three Chicago Multifamily Properties for Combined $10.4M

by Kristin Harlow March 27, 2025

CHICAGO — Kiser Group has brokered the sales of three fully occupied multifamily properties in Chicago’s Edgewater neighborhood for a total of $10.4 million. The buildings, all constructed in 2016, consist of large two- and three-bedroom units with ground-floor commercial space. All are predominately occupied by students and are situated near Loyola University. The assets were originally listed as a portfolio sale, but Kiser decided to split the buildings for individual sale, citing the rise in interest rates at the time of launch. All three buildings sold to new entrants in the market — a doctor from Columbus, a 1031 exchange buyer from the northwest suburbs and a local retail investor purchasing its first mixed-use property. Andy Friedman and Jake Parker of Kiser brokered the sales.

March 27, 2025

Illinois Leasing Activity Midwest Office

Colliers Negotiates Two Office Leases in Suburban Chicago Totaling 33,771 SF

by Kristin Harlow March 27, 2025

DOWNERS GROVE AND SCHAUMBURG, ILL. — Colliers has negotiated two new office leases totaling 33,771 square feet in the western suburbs of Chicago. In the first transaction, Mason Logistics leased 20,971 square feet in the master-planned Esplanade at Locust Point development in Downers Grove. The transportation, warehousing and supply chain services company will relocate from 1815 S. Meyers Road in Oakbrook Terrace, where it maintains roughly the same footprint, in August. Sven Sykes, Tom Volini and Brent Jacob of Colliers represented the tenant. Phil Sheriden represented the landlord, Hamilton Partners, on an internal basis. Sykes and Volini arranged a 12,800-square-foot lease for Meltzer, Purtill & Stelle LLC at Schaumburg Towers in Schaumburg. The law firm will vacate its 12,800 square feet at 1515 Woodfield Road, also in Schaumburg, in August. Doug Shehan and Dan Svachula of JLL represented ownership. Schaumburg Towers totals 890,000 square feet across two 20-story buildings.

March 27, 2025

Leasing Activity Midwest Ohio Retail

Five New Retailers Open at Easton Gateway in Columbus, Ohio

by Kristin Harlow March 27, 2025

COLUMBUS, OHIO — Five new retailers, including two first-to-Ohio locations, have opened or are coming soon at Easton Gateway, a collection of retail and restaurants located next to Easton Town Center in Columbus. Now open include SuitShop, SITKA Gear and Sí Señor. SuitShop’s first Ohio location offers yours-to-keep suits and tuxedos starting under $200. SITKA Gear invented the technical hunting apparel category. The location is the first in Ohio. Sí Señor Peruvian Sandwiches is a locally owned sandwich shop. although historically a lunch spot, the Easton restaurant will also serve dinner. Coming soon is Carhartt, which manufactures clothing known for exceptional durability and comfort. The store will be the first in Columbus. Bareburger will also open soon and is known for crafting burgers with organic and sustainably sourced ingredients. Easton Gateway is an extension and expansion of Easton Town Center and acts as the northeast anchor, or gateway, into the broader Easton development. Easton Gateway, developed in 2014, totals 650,000 square feet.

March 27, 2025

Indiana Market Reports Midwest Midwest Market Reports Multifamily

Indianapolis Apartment Market Shows Promising Signs of Stabilization

by Kristin Harlow March 27, 2025

By Chris Bruzas, Berkadia After a particularly challenging and unpredictable 2024, marked by continued interest rate volatility and a persistent bid-ask spread differential that contributed to low transaction volume, the Indianapolis apartment market is showing promising signs of stabilization as we move into 2025. Yardi Matrix data highlights Indianapolis’ resilience, posting 2.7 percent year-over-year rent growth in November. This performance is especially noteworthy as it surpasses several popular Sun Belt markets, which have experienced declines, dipping into negative territory. The outlook for 2025 appears more balanced, with new supply moderating to approximately 3,500 units from 2024’s record-breaking 6,500+ deliveries. This timing aligns well with the market’s strong population growth, as Indianapolis expects to welcome 22,200 new residents in 2025, significantly exceeding the historical average of 12,800 annual net movers. Key factors of the population’s growth are due to the presence of reputable universities and colleges, such as Indiana University-Purdue University Indianapolis (IUPUI). Compared with other major metropolitan areas, Indianapolis offers a relatively low cost of living, making it an attractive destination for those looking to maximize their quality of life without the high expenses associated with larger cities. The region’s economic fundamentals remain strong, anchored by transformative projects including Eli …

March 27, 2025

Development Loans Multifamily New York Top Stories

KS Group, Alma Realty Receive $300M Construction Financing for Multifamily Project in Queens

by Hayden Spiess March 27, 2025

NEW YORK CITY — KS Group and Alma Realty Corp. have received a $300 million construction loan for the development of a mixed-use multifamily project on the East River in the Astoria neighborhood of Queens in New York City. S3 Capital provided the financing. Henry Bodek of Galaxy Capital secured the loan on behalf of KS Group and Alma Realty, two multifamily developers based in Newark and Long Island City, respectively. Upon completion, the development will comprise a 26-story tower and three mid-rise buildings totaling 731 residential units. The development will include affordable housing units with the support of a 421a tax abatement, which provides a period of exemption from real estate taxes to projects that meet specific criteria and include a required percentage of affordable housing. The properties will also feature ground-floor retail space and parking. Amenities will include a rooftop pool with a landscaped roof deck, fitness center, golf simulator, children’s playroom, indoor and outdoor theaters and a business center. The development marks Phase I of a larger, multi-phased project dubbed Astoria Cove, which will be located at 8-01, 4-34 and 5-57 26th Ave. in Queens. YNH Construction will serve as general contractor on the project. Construction is …

March 27, 2025

Development Industrial Self-Storage Texas

SurePoint to Develop 761-Unit Self-Storage Facility in Missouri City, Texas

by Taylor Williams March 26, 2025

MISSOURI CITY, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop an 761-unit self-storage facility in Missouri City, a southwestern suburb of Houston. The site is located along FM 521 just south of Sienna Parkway near Johnson Development’s Sienna master-planned community, where SurePoint opened another self-storage facility in 2021. CubeSmart will operate the new facility, which will comprise 95,000 net rentable square feet, inclusive of climate-controlled space. Construction is set to begin this summer. A tentative completion date was not announced.

March 26, 2025

Acquisitions Multifamily Texas

IPA Negotiates Sale of 374-Unit Cortland Riverside Apartments in Fort Worth

by Taylor Williams March 26, 2025

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Cortland Riverside, a 374-unit apartment community in Fort Worth. Built in 2020 on the city’s north side, the property offers one-, two- and three-bedroom units with an average size of 1,014 square feet. Amenities include a pool, fitness center, business center, dog park and a clubhouse. Drew Kile, Michael Ware, Taylor Hill, Joey Tumminello and Shelby Clark of IPA brokered the deal. The buyer and seller were not disclosed. The property, which was 95 percent occupied at the time of sale, has since been rebranded as The Hadley Riverside.

March 26, 2025

Acquisitions Build-to-Rent Single-Family Rental Texas

ONM Living Sells 196-Unit Build-to-Rent Property in South Fort Worth

by Taylor Williams March 26, 2025

FORT WORTH, TEXAS — Locally based developer ONM Living has sold Cottages at Summer Creek, a 196-unit build-to-rent residential property in South Fort Worth. Built on 18 acres in 2023, Cottages at Summer Creek offers studio, one-, two- and three-bedroom residences that range in size from 344 to more than 1,200 square feet. Homes offer private fenced yards, covered front porches, granite countertops, stainless steel appliances, walk-in showers, washers and dryers and smart technology features. Amenities include a pool, two pet parks, pickleball courts, walking trails and a conference room. ONM Living sold the property in partnership with All Pro Capital. Berkadia brokered the deal. The buyer was Stockbridge Capital Group.

March 26, 2025

Leasing Activity Office Texas

46 Labs Opens 25,000 SF Office in Dallas’ West End Area

by Taylor Williams March 26, 2025

DALLAS — Local provider of global business communications management services 46 Labs has opened a 25,000-square-foot office in the historic West End area of Dallas. The company is relocating from 1701 Market St. to a former bread factory that was most recently occupied by Sam’s Club Innovation Center. The new office seats 50 employees and features three conference rooms, four private offices and multiple working spaces and private pods. Mike Kay led the Colliers team that represented 46 Labs in its site selection and lease negotiations.

March 26, 2025

Industrial Leasing Activity Texas

Allied Plastic Supply Signs 24,000 SF Industrial Lease in Northwest Houston

by Taylor Williams March 26, 2025

HOUSTON — Allied Plastic Supply LLC has signed a 24,000-square-foot industrial lease in northwest Houston. According to showcase.com, the property at 5250 N. Sam Houston Parkway W was built in 2007 and features 24-foot clear heights. Garret Geaccone of Stream Realty Partners represented the landlord, Prologis, in the lease negotiations. Joe Berwick of JLL represented the tenant, which provides custom plastic fabrication services.

March 26, 2025

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