Property Type

CHICAGO — Skender has completed construction of Fifth City Commons, a 43-unit affordable housing complex in Chicago’s East Garfield Park neighborhood. The units are reserved for residents with incomes ranging between 30 and 80 percent of the area median income. Additionally, all units were built to Passive House standards of sustainable energy use. The project site was vacant land for decades. As a part of the global C40 Reinventing Competition for Cities, which encourages municipalities around the world to use vacant land for sustainable, net-zero redevelopment, the City of Chicago selected the site for redevelopment in 2019. Sitting at the gateway to a part of Garfield Park called Fifth City, the 1.5-acre development was named after this geography to honor the community development organization of the same name that was active in the neighborhood throughout the 1960s. Construction on the property began in July 2023. The new three-story facility includes community rooms, a resident terrace, fitness room, laundry facilities and onsite management offices. Skender and joint venture partner Ashlaur Construction collaborated with Nia Architects and Perkins&Will, and engineering firms dbHMS, Rubinos & Mesia Engineers, Omni Ecosystems and TERRA Engineering. Tandem Ventures managed regulatory compliance and maximized community engagement to create …

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DELAVAN, WIS. — Marcus & Millichap has brokered the $9.7 million sale of Delavan Crossings, a 41,898-square-foot retail strip center in Delavan, about 45 miles southwest of Milwaukee. The 25-suite property, built in 2003, is comprised of three buildings. Some of the tenants include Starbucks, Domino’s, Jersey Mike’s, AT&T, Verizon and Great Clips. Jeff Rowlett of Marcus & Millichap represented the seller, New York-based Ten Patels Realty. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap procured the buyer, a private investor. The trio also secured financing from a credit union lender.

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CAROL STREAM, ILL. — Brown Commercial Group has negotiated the sale of a 50,632-square-foot industrial building in the Chicago suburb of Carol Stream for an undisclosed price. IP Automation Inc. purchased the facility at 400 E. Fullerton Ave. for its new headquarters. The company plans to relocate from its existing location in Downers Grove this year. Mike Antonelli of Brown represented the buyer as part of a two-year site selection and market analysis that included evaluating existing buildings as well as new construction opportunities throughout the Chicago market. Savills represented the undisclosed seller.

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SOUTHFIELD, MICH. — Dominion Real Estate Advisors LLC has arranged the sale of an 11,010-square-foot warehouse in the Detroit suburb of Southfield that was previously owned by the Motown Museum. The asset was sold as part of the museum’s strategic growth plan to support its ongoing expansion efforts in Detroit. Hitzville USA recently completed its $75 million museum expansion in Midtown Detroit. Eric Banks and Alex Tokarz of Dominion represented the Motown Museum in the sale. Chris Secontine of Signature Associates represented the buyer, Lucent Surgical.

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DALLAS — Locally based investment firm S2 Capital has purchased Landmark at Gleneagles, a 590-unit apartment community in North Dallas. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 683 to 1,300 square feet. Amenities include a fitness center, business center, pool, playground, basketball court, tennis court, game room, lounge and outdoor grilling and dining areas, according to Apartments.com, which also noted that the property has been rebranded as The Monte. S2 Capital purchased the asset as part of a sale of a larger, 1,768-unit portfolio that included four properties in Tennessee.

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ARLINGTON, TEXAS — Provident Industrial, a division of locally based firm Provident, will develop A20 Logistics Center, a 161,408-square-foot project that will be located at 5000 E. Bardin Road in Arlington. The development will feature 32-foot clear heights, 34 dock doors, two oversized drive-in doors with ramps, 130-foot truck court depths and 2,100 square feet of speculative office space. Construction will begin in the coming days and is expected to be complete in the first quarter of 2026. Provident Industrial is developing A20 Logistics Center in partnership with Humphreys Capital and Farmers Bank & Trust. JLL will market the property for lease. 

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FORT WORTH, TEXAS — Paragon Furniture has signed a 121,740-square-foot industrial lease in Fort Worth. The local manufacturer and distributor of flexible school furniture will occupy the entire building at 3253 Boswell Drive, which is located in the Handley neighborhood on the east side, for its new distribution center. Langston Sutcliffe of Partners Real Estate represented Paragon Furniture in the lease negotiations. Brian Gilchrist of CBRE represented the undisclosed landlord.

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RICHARDSON, TEXAS — Infrastructure consulting firm Halff has sold its 91,251-square-foot office building in the northeastern Dallas suburb of Richardson. The building sits on a 6.7-acre site at 1201 N. Bowser Road. Jonathan Carrier of JLL represented Halff in the transaction. Digital Realty purchased the building for an undisclosed price. The sale was executed in conjunction with Halff signing an 80,000-square-foot lease at Galatyn Commons for its new Richardson office.

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1166-Avenue-of-the-Americas-Manhattan

NEW YORK CITY — The Federal Deposit & Insurance Corp. (FDIC) has signed a 147,543-square-foot office lease in Midtown Manhattan. The FDIC is relocating from the Empire State Building to the 44-story building at 1166 Avenue of the Americas via a 10-year lease for the entire eighth, ninth and 10th floors, as well as part of the seventh floor. Connor Faught and Sheena Gohil of Colliers represented the FDIC in the lease negotiations. Paul Glickman, Diana Biasotti, Cynthia Wasserberger and Christine Colley of JLL, along with internal agents Jeffrey Sussman and Matt Pynn, represented the landlord, Edward J. Minskoff Equities.

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Residence-Inn-Wilmington-Del

WILMINGTON, DEL. — Pennsylvania-based MRA Group will develop a 127-room hotel in Wilmington, Del., that will be operated under the Residence Inn by Marriott brand. The hotel will be located on the 164-acre Chestnut Run Innovation & Science Park campus and will feature food service, a full-service bar and meeting/event spaces. Construction will begin this month. A tentative completion date was not announced. Gulph Creek Hotels will manage the property, which will be the first hotel constructed in the area in nearly three years, according to MRA Group.

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