Industrial Midwest

Prologis to acquire Liberty Property Trust for $12.6B

Prologis and Liberty Property Trust have entered into a definitive merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt. The board of directors of Prologis and the board of trustees of Liberty have each unanimously approved the transaction.

Finance Midwest
Providing workforce housing remains a challenge throughout the Midwest.

Financing the new kids on the block: Co-living, cannabis and workforce housing

As 2019 draws to a close, investor interest is growing in several emerging assets, including co-living, workforce housing and cannabis tenants. Matt Wurtzebach, senior vice president in the Commercial Finance Group at national real estate services firm Draper and Kramer, Incorporated, shared his thoughts with Midwest Real Estate News about what he’s seeing from the front lines, including lender appetite across these emerging segments of the multifamily market as well as special challenges associated with financing cannabis real estate.

CRE Midwest
Tod Lickerman;Cresa

Cresa adds former JLL, Cushman leader, Tod Lickerman, to board of directors

Cresa has appointed Tod Lickerman to its board of directors. Lickerman previously served as global president and Americas CEO at Cushman & Wakefield and will help Cresa’s executive leadership on their ambitious growth strategy, which in the last three years has resulted in the integration of 20 independently owned companies, in addition to 15 new offices outside of North America.

CRE Midwest
2260 Wendt Street in Algonquin, Illinois.

NAI Hiffman arranges $17M sale-leaseback for Young Innovations in IL, MO

NAI Hiffman completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt Street in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.

CRE Midwest
Take a look at the CREW Network rebrand

Take a look at the CREW Network rebrand

Commercial Real Estate Women (CREW) Network has introduced a new brand aiming to establish CREW as the premier global business organization leading women and the industry into the future. The new brand was introduced on September 27 to 1,200 commercial real estate leaders attending the 2019 CREW Network Convention and Marketplace in Orlando, Florida.

Retail Midwest
Metro Commercial Real Estate brokers 10 new locations for The Edge Fitness Clubs

Metro Commercial Real Estate brokers 10 new locations for The Edge Fitness Clubs

Metro Commercial Real Estate has brokered ten new locations for The EDGE Fitness Clubs in the Chicago, Detroit, St. Louis and Philadelphia markets. The leasing team from Metro was led by senior vice president Brandon Anapol and vice president Scott Benson. Metro is the exclusive regional broker for The EDGE Fitness Clubs throughout the Midwestern and Mid-Atlantic United States.

Finance Midwest
Dave Metzger;Cresa

Cresa names chief financial officer

National commercial real estate firm Cresa has named Dave Metzger as chief financial officer. Metzger will lead Cresa’s finance team with a focus on financial reporting, long-term financial and strategic planning, and mergers and acquisitions as the company continues to expand and reach new markets.