Property Type

Mid-America Negotiates Sale of 37,615 SF Lincoln Park West Retail Property in Chicago

by Kristin Harlow July 28, 2026

CHICAGO — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail asset located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank, Starbucks, RJ Grunts (Lettuce Entertain You) and Lincoln Park Preschool. The weighted average lease term is seven years. George Ghattas, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, LLJ Ventures. A private local investor was the buyer.

July 28, 2026

Acquisitions Hospitality Michigan Midwest

Alpine Realty Capital Arranges Sale of DoubleTree Hotel and Conference Center in Bay City, Michigan

by Kristin Harlow July 28, 2026

BAY CITY, MICH. — Alpine Realty Capital, a member of Hotel Brokers International, has arranged the sale of the DoubleTree Hotel and Conference Center by Hilton in Bay City. Alpine negotiated pricing and terms on behalf of the buyer and assisted in all aspects of due diligence, including appraisal and environmental execution, lender analysis and approvals and coordination with legal counsel and seller’s representatives. The property overlooks the Saginaw River and features an onsite restaurant, indoor pool, fitness center and meeting rooms.

July 28, 2026

Leasing Activity Midwest Minnesota Office

UBS, CBRE Sign Leases at Arcadia Office Building Under Development in Metro Minneapolis

by Kristin Harlow July 28, 2026

EDINA, MINN. — Arcadia, a 118,000-square-foot office building currently under construction in Edina, is now 71 percent preleased. Opus broke ground on the six-story, multi-tenant property in September. Completion is slated for December of this year. UBS Financial Services Inc. leased the entire fifth floor, totaling 29,126 rentable square feet. CBRE signed a lease for 15,746 square feet on the third floor. Opus and Opus-affiliated companies will occupy 38,386 square feet, with Opus taking the entire top floor and the affiliated companies occupying a portion of the fourth floor. Arcadia will feature gathering spaces, conference rooms, a large employee training room, private tenant clubroom, fitness center and landscaped outdoor terrace. Opus is serving as both developer and design-builder for the project. ESG Architecture & Design is the architect. Joe Conzemius, Larissa Bodine, Ann Rinde and Elle Westphal of CBRE are leading leasing efforts. Tom Tracy and John McKenna of Cushman & Wakefield represented UBS, while John Ferlita and John Lorence represented CBRE on an internal basis.

July 28, 2026

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $5.9M Sale of Multifamily Portfolio in Palatine, Illinois

by Kristin Harlow July 28, 2026

PALATINE, ILL. — Interra Realty has brokered the sale of a five-building, 30-unit multifamily portfolio in Palatine for nearly $5.9 million. Paul Waterloo and Patrick Kennelly of Interra represented the private local buyer and confidential seller. The portfolio was fully occupied at the time of sale. The properties are part of the Turtle Creek Apartments Master Association. There are five one-bedroom units and 25 two-bedroom residences, all of which have been recently upgraded. The properties are subject to a monthly association fee that covers insurance, landscaping, snow removal and waste collection.

July 28, 2026

Data Centers Development Texas Top Stories

Meta, BlackRock to Develop $14B Data Center Campus in El Paso

by John Nelson July 28, 2026

EL PASO, TEXAS — Meta Platforms Inc. (NASDAQ: META), the parent company of Facebook, Instagram and WhatsApp, and BlackRock Inc. (NYSE: BLK) have formed a joint venture to develop and operate a data center campus in El Paso. The companies project that total development costs for the 1-gigawatt (GW) campus will be approximately $14 billion. Meta will provide construction management, administrative and property management services for the campus and will be its initial sole occupant upon completion. The new data center campus “will play an essential role in bringing Meta’s AI technologies to life,” according to the companies. “Building the infrastructure for superintelligence is key to making sure the benefits of this technology are distributed to everyone,” says Mark Zuckerberg, founder and CEO of Meta. “Our partnership with Larry [Fink] and the team at BlackRock allows us to move faster and at greater scale — pairing our deep expertise in designing and operating world-class data centers with one of the world’s leading infrastructure investors.” Construction is currently underway in El Paso with approximately 2,300 workers onsite, according to Meta. The Menlo Park, Calif.-based company estimates that the project will employ 4,000 construction workers at its peak and 300 staffers once fully …

July 28, 2026

California Content Partner Features Loans Multifamily Northeast Regions Real Estate Capital Markets Southeast Western

Resilient Demand in Key Regions Supports Multifamily Through Midyear Challenges

by Sarah Daniels July 28, 2026

By Ann Atkinson, Regions Real Estate Capital Markets Midway through 2026, the multifamily industry appears to be holding steady. By many accounts, fundamentals are weathering uncertainties across the economy, job markets and geopolitical arenas. While some key metrics have softened, the overall health of the apartments sector demonstrates how essential this class of real estate is. Simply stated, everyone needs a safe place to call home. Sustained demand for rental units remains central to the sector’s health, and conditions in the for-sale market continue to shape that demand directly. For many households, homeownership has become increasingly out of reach. Affordability has eroded sharply over the past decade, driven by land use restrictions, constrained housing supply and a widening gap between mortgage costs and income, according to an October Goldman Sachs’ U.S. outlook for housing supply and affordability. Elevated interest rates in recent years have only added to the strain. Together, these factors are keeping many Americans in rentals far longer than they might have planned. Even with strong demand, the apartments market isn’t without challenges. The industry is still working through the surge in new unit supply that hit the market over the past few years. As a result, rents …

July 28, 2026

Development Iowa Loans Midwest Office

Foss Secures Tax Credits for 25-Story Office Tower Conversion in Des Moines

by Kristin Harlow July 27, 2026

DES MOINES, IOWA — Foss & Co., a tax credit syndicator, has secured financing for the Financial Center, a 25-story office tower in downtown Des Moines. Developed by Lawmark Capital, the project will convert the building into 209 market-rate apartment units and 152,000 square feet of commercial space, generating approximately $14.6 million in 2026 federal Historic Tax Credits. Constructed between 1973 and 1974, the Financial Center was the tallest building in Iowa upon its completion. The conversion plan will transform a portion of floors one through three and all of floors four through 18 into residential units. Resident amenities will include a golf simulator, fitness center, rooftop deck with a pool and direct access to Des Moines’ 4.2-mile downtown skywalk system.

July 27, 2026

Development Illinois Industrial Midwest

Principle Construction Completes 55,468 SF Facility for Orozco Trucking in Elgin, Illinois

by Kristin Harlow July 27, 2026

ELGIN, ILL. — Principle Construction Corp. has completed a truck maintenance and warehouse facility for Orozco Trucking at 2580 Mason Road in Elgin. The build-to-suit project provides the climate-controlled and dry freight specialist with a permanent home following its relocation from a leased site in Elk Grove Village. The 55,468-square-foot headquarters features a mix of office, maintenance and warehouse space. Situated on previously undeveloped land with immediate access to I-90, the site also offers room for future expansion. The new facility includes a two-story office space totaling 23,000 square feet, 16,800 square feet of maintenance space and 15,000 square feet of warehouse space. The warehouse and maintenance portion feature a clear height of 26 feet, four dock doors and four drive-in doors. Harris Architects was the project architect.

July 27, 2026

Acquisitions Healthcare Midwest Ohio

Marcus & Millichap Brokers $9.9M Sale of Cincinnati Medical Office Building

by Kristin Harlow July 27, 2026

CINCINNATI — Marcus & Millichap has brokered the $9.9 million sale of a 26,107-square-foot medical office building in Cincinnati. Constructed in 2008, the property at 8099 Cornell Road is fully leased to Ortho Alliance MSO LLC/Beacon Orthopedics & Sports Medicine Ltd. under a double-net lease with approximately five years remaining. Recent capital improvements include a new roof, HVAC and elevator upgrades, an MRI suite and a physical therapy facility. Frank Roti, Thomas Heitzman and Brett Rodgers of Marcus & Millichap, in association with Michael Glass, the firm’s Ohio broker of record, represented the seller, a private group of investors. The team also procured the buyer, a national REIT.

July 27, 2026

Kansas Leasing Activity Midwest Retail

Eight Retail Tenants to Open at Phase II of Bluhawk in Overland Park, Kansas

by Kristin Harlow July 27, 2026

OVERLAND PARK, KAN. — Phase II of Bluhawk is slated to include a lineup of eight retail tenants, including L.L.Bean, Spavia Day Spa, JETSET Pilates, Chicken Salad Chick, Brookside Barkery & Bath, Amorino, Everbowl and Bruú Café, with additional tenants to come. Bluhawk is a 277-acre mixed-use development in the Kansas City suburb of Overland Park that is home to AdventHealth Sports Park. Price Brothers is the developer and manager of the project. L.L.Bean’s arrival marks the brand’s return to Kansas City. The store is slated to open in summer 2027. Italian gelato brand Amorino will make its Kansas City market debut and is also expected to open in summer 2027. Spavia Day Spa and JETSET Pilates are anticipated to open this fall. Phase II construction began in November 2025. J.Crew Factory, Buckle and Barnes & Noble are now open. Phase II connects the new offerings with the sports park. At Phase I, Swig and Saladworks recently opened, and Glow Sauna Studios is scheduled to open this month. A Holiday Inn Express by IHG hotel, developed and managed by Price Hospitality, opened in May, marking the first of three planned hotels at the development.

July 27, 2026

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