Finance W Minnesota Associated Bank's Schmidt: Industrial leading the way for financing requests Paul Schmidt is a veteran of the commercial finance business. And as executive vice president and head of commercial real estate in the Minneapolis office of Associated Bank, he knows the market in the Midwest.
Retail N Illinois Empty storefronts pose unique retail opportunities Over 2,500 storefronts closed during the first half of this year, with another 500+ retail locations expected to follow suit before the year is out. But all is not lost. According to a new retail outlook research report by JLL, these store closures present an opportunity for new retail and new uses, whether those vacancies are in strip malls, power centers or regional malls.
CRE Q Kentucky Louisville Commercial Real Estate Summit: Celebrating another booming year Louisville remains one of the hottest commercial real estate markets in the Midwest. This year, the market is especially strong, a truth that was evident during the third annual Louisville Commercial Real Estate Summit held by REJournals.com and Midwest Real Estate News Sept. 13 at Noah’s Event Venue.
Industrial N Illinois Chicago’s near Southwest Side continues to attract last-mile activity Last week, the Chicago Plan Commission approved a plan by Hilco Redevelopment Partners to construct a 1-million-square-foot distribution center in the Little Village neighborhood. The new project joins a slate of other projects as developers attempt to meet demand for last-mile capabilities close to the CBD.
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Industrial X Missouri Kansas City's Hunt Midwest Business Center continues to grow With strong leasing activity at the Hunt Midwest Business Center in Kansas City, Missouri, both HMBC Logistics I and II are now 100 percent leased. This momentum has triggered the start of construction on HMBC Logistics III and the permitting of HMBC Logistics IV.
Net Lease N Illinois Marcus & Millichap arranges $7.4M sale of Bloomington retail center Marcus & Millichap announced the sale of Shops On Veterans, a 15,400-square-foot retail property located in Bloomington, Illinois. Brian Parmacek, an investment specialist in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor. The asset sold for $7,400,000.
CRE O Indiana Marcus & Millichap sells self-storage facility in Indiana Marcus & Millichap recently closed the sale of a 680-unit, 80,875-square-foot self-storage facility in Evansville, Indiana. The property sold for $5.85 million.
Multifamily N Illinois TGM acquires sixth Chicago-area multifamily community New York-based TGM Group has acquired a 347-unit, mid-rise apartment community in Northbrook, Illinois, their sixth in the Chicago market. Located at 770 Skokie Boulevard, the property was constructed in 2016 by a joint venture between Chicago-based Morningside Group and Schaumburg-based Crossroads Development Partners. Terms of the deal were not disclosed.
Net Lease W Minnesota Boulder Group sells Dairy Queen in Minnesota The Boulder Group closed the sale of a single-tenant net-leased Dairy Queen restaurant at 7720 149th St. W in Apple Valley, Minnesota, for $3 million.
Industrial N Illinois Plainfield industrial building sells for just north of $1 million Lee & Associates has closed a $1.24 million sale transaction for 23810 Industrial Drive, an 18,550-square-foot industrial building in Plainfield, Illinois.
Office X Missouri Intelica CRE sells office/retail center in Missouri Drew Clary of Intelica CRE represented the seller in the sale of a 20,000-square-foot office and retail building in Florissant, Missouri.
Student Housing N Illinois Gilbane Development Company to construct new housing at U of I Gilbane Development Company announced the development of a new student housing community, Octave, at the University of Illinois Urbana-Champaign. Scheduled for fall 2019 occupancy, the project is located two blocks from the University of Illinois campus at 210 S. Fourth Street in Champaign, Illinois.
Office N Illinois Successful factory-to-office redevelopment The Green Exchange up for sale The Green Exchange, a 229,000-square-foot loft office building located at 2545 W. Diversey Avenue in Chicago’s Logan Square neighborhood, has his the market with a reported asking price of $75 million. The building serves as the headquarters of third-party logistics firm Coyote Logistics, who signed a long-term lease extension in July.
Multifamily N Illinois Kiser Group brokers $17M Evanston multifamily portfolio Kiser Group recently brokered an Evanston portfolio for $17,025,000. The properties are located at 1940 Sherman Avenue and 829 Foster Street in Evanston, Illinois. The buyer, an undisclosed purchaser, bought the 87 apartment and 3 retail unit portfolio from Stephen Matic. The deal was brokered by Kiser Group’s Danny Mantis, broker, and Lee Kiser, principal and managing broker.