Sunday, June 28, 2026
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AcquisitionsMidwestMultifamilyWisconsin

CBRE Arranges Sale of Two Multifamily Properties in Wisconsin for $10.1M

by Kristin Harlow

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located at 5010 Biscayne Ave. Built in 1960, the asset features 80 units in a variety of one-, two- and three-bedroom floor plans.

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AcquisitionsMidwestMinnesotaOffice

Transwestern Brokers Sale of 58,645 SF Office Showroom in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Transwestern Real Estate Services has brokered the sale of a 58,645-square-foot office showroom located at 3020 Denmark Ave. in the Minneapolis suburb of Eagan for an undisclosed price. Transwestern’s Mike Honsa and John Thompson represented the seller, Blue Water III LLC. The buyer, the Plumbers and Gasfitters Local 34 union, is consolidating its operations and moving both its corporate office and training center to the property. The union was previously based at 353 7th St. in St. Paul. The property was previously occupied by CHS, which had been in the building since its completion in 1998. Blue Water III LLC’s decision to sell came when the building became vacant for the first time. Jordan Dick, Todd Hanson and Jason Sell of Cushman & Wakefield represented the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 31,394 SF Industrial Building in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 31,394-square-foot industrial building in the Chicago suburb of Batavia. Located at 1563 Hubbard Ave., the single-tenant property was fully leased at the time of sale. Constructed in 1980 and situated on 2.2 acres, the building features two exterior docks, one drive-in door and parking for over 80 cars. Matthew Stauber of Colliers represented the undisclosed seller. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group. The fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.

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DevelopmentHealthcareIllinoisMidwest

Keeley Construction Completes 19,475 SF Hanger Clinic Facility in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Keeley Construction has completed a 19,475-square-foot Integrated Care Center (ICC) for Hanger Clinic in the Chicago suburb of Schaumburg. The new facility is located at 640 E. Golf Road. Hanger Clinic is a provider of orthotic and prosthetic solutions, with more than 900 locations across the country. The new ICC is designed to elevate patient care for individuals with limb loss, limb difference and other physical disabilities. The clinic features a rock-climbing wall, gym area, golf simulator, running track, kitchen and demo apartment. The amenities provide patients with the opportunity to test various prosthetic technologies in real-life scenarios. The ICC also features multiple medical exam rooms, dedicated office space with a Clinician Collaboration Center, a reception and waiting area and onsite fabrication lab. Sarfatty Associates was the architect and Ware Malcomb served as interior designer. Brian Edgerton of NAI Hiffman represented Hanger Clinic in the lease, starting with strategic planning and site selection in February 2022. Les Kristof of CBRE represented the landlord, Golfwood Square LLC.

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Leasing ActivityNew JerseyNortheastOffice

Casio America Signs 21,338 SF Office Lease in Rockaway, New Jersey

by Taylor Williams

ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.

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Leasing ActivityMichiganMidwestRetail

Evexia Wellness Signs 3,603 SF Retail Lease in Oakland Township, Michigan

by Kristin Harlow

OAKLAND TOWNSHIP, MICH. — Evexia Wellness has signed a 10-year, 3,603-square-foot retail lease at 4986 N. Adams Road in Oakland Township. The property is known as Country Creek Commons shopping center. Eric Banks and Jim Mitchell of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Mike Murphy and Owen Kelly of Gerdom Realty & Investment represented the tenant, which is a full-service medical wellness spa owned by Ida Pesce.

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Leasing ActivityNortheastRetailRhode Island

Urban Air Adventure Park Opens Entertainment Venue in Warwick, Rhode Island

by Taylor Williams

WARWICK, R.I. — Urban Air Adventure Park, an entertainment concept centered on trampolines, has opened a new entertainment venue in Warwick, just south of Providence. The space is located within Cowesett Corners Shopping Center, a grocery-anchored power center, and features climbing walls, obstacle courses and bumper cars. The square footage of the space was not disclosed.

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IllinoisMarket ReportsMidwestMidwest Market ReportsOffice

Chicago Office Market: the Trophy Spillover Effect

by Kristin Harlow

By Steven Bauer, Colliers The office towers that define Chicago’s landscape have unique histories and personalities, but not all are created equal in the eyes of the tenant. Buildings seeing the highest demand, classified even higher than Class A, are “trophy buildings” — buildings with high-quality finishes, newer and more efficient construction, and are often amenity rich with exclusive lounges, rooftop decks, fitness centers and private bars.  It’s especially important in today’s market to distinguish between the two distinct building categories because while Chicago’s real estate market is a vibrant and complex one, there is more to the story than what you see in the headlines. While the overall vacancy rate in the Loop remains at a historic high above 25 percent, trophy space vacancy is under 10 percent, and demand continues to be robust.  The story of flight to quality and flight to trophy assets has been told repeatedly since the COVID pandemic — complete with statistics that back the trend up. In the fourth quarter of 2024 alone, owners of trophy class buildings finalized anchor tenant renewals with Mayer Brown and PwC, both of whom kept roughly the same square footage as they had previously leased. With the …

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FeaturesKentuckyRestaurantSoutheastSoutheast Feature Archive

Quick-Service Restaurants Embrace Digital Transformation, AI Revolution

by John Nelson

By Casey Smallwood of SRS Real Estate Partners In today’s fiercely competitive quick-service restaurant (QSR) market, digital transformation and artificial intelligence (AI) are reshaping how brands operate, engage with customers and create value. An industry once defined by speed and consistency is now being reshaped by data, automation and intelligent personalization. Across the country, QSRs are embracing cutting-edge technologies to improve operations, enhance the customer experience and maximize profitability. From mobile ordering apps to AI-powered drive-thru automation and predictive inventory management, these innovations are redefining the QSR business model. To stay competitive and relevant in today’s fast-changing market, franchise operators, developers and commercial real estate investors must understand and adapt to these technology-driven shifts. At the heart of this evolution is digital transformation — the integration of digital technology across all aspects of the business. In the QSR landscape, this includes everything from mobile ordering apps, digital menu boards to contactless payment systems, smart kitchen equipment and sophisticated customer relationship management (CRM) tools. Unlike full-service restaurants that emphasize ambiance and table service, QSRs succeed by offering speed, convenience and consistency. Digital transformation amplifies these core strengths, allowing operators to serve more customers faster and more accurately while also collecting and …

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The-Elle-Apartment-Homes-San-Antonio
DevelopmentMultifamilyTexas

Koontz Corp. to Develop 305-Unit Apartment Community in North San Antonio

by Taylor Williams

SAN ANTONIO — Locally based developer Koontz Corp. will develop The Elle Apartment Homes, a 305-unit multifamily community in San Antonio. The site spans 9.6 acres on the city’s north side, and the building will rise four stories and house one- and two-bedroom units. Residences will be furnished with kitchen islands, stainless steel appliances, custom cabinetry, quartz countertops, walk-in closets, full-size washers and dryers and private patios. Amenities will include a pool, fitness center, entertainment room, business center, coffee bar, grilling areas and a dog park. Project partners include Garcia + Associates (architect), Pape-Dawson (engineer), Casey Roy Design (interior design) and IBC Bank (construction lender). Construction is scheduled to begin in the third quarter and to be complete in mid-2027.

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