Cushman & Wakefield represented real estate developer and general contractor Northern Builders in negotiating separate build-to-suit for-sale agreements with Atlanta-based Agile Cold Storage and locally based Illinois Truck Group (ITG) at Cherry Hill Business Park in New Lenox and Joliet, Illinois. Cushman & Wakefield’s Jason West, Sean Henrick and Ryan Klink represented Northern Builders. Noel Liston and Matt Lee of Core Industrial represented Agile Cold Storage, while Jeff Provenza and Todd Hendricks of Lee & Associates represented ITG. In both transactions, Northern Builders wil ..read more

Carmel, Indiana-based Merchants Bank hired Francisco Guzman as an Affordable Lending Loan Officer, based out of the company’s headquarters. Guzman brings with him mortgage origination experience gained while serving clients located in Indiana and Florida. His recent roles in the mortgage industry were at American Financial Network and America’s Mortgage Professionals, where he focused on generating leads for local Spanish-speaking realtors and fostering the growth of self-sourced Spanish-speaking businesses. In his new position, Guzman will advise clients and prospects on their home ..read more

The Cooper Commercial Investment Group closed the sale of the single-tenant Starbucks outparcel in Mentor, Ohio. Dan Cooper of the Cooper Commercial Investment Group in Cleveland represented the seller, a private investment group based in Ohio. The 1031 buyer purchased the asset for $2.05 million, representing a CAP rate of 5.74%. The deal went from contract to close in 45 days ..read more

Darland completed construction of a 61,200-square-foot warehouse near the intersection of Highway 50 and Interstate-80 in Omaha. The new building features Butler Building components, a 26-foot clear height, eight dock doors and Interstate signage. Preliminary budgeting for the project began in 2018, but concerns about rising prices and labor shortages during the pandemic put the project on hold. The Darland preconstruction team worked with the owner to value engineer the building to meet the budget and the future tenant’s needs. The highly visible location coupled with the lack of availab ..read more

SVN | J. Beard Real Estate – Greater Houston has added Marshall Davidson as chief investment officer to its commercial real estate team. As a designated Specialist in Industrial and Office Markets (SIOR) and a Certified Commercial Investment Member (CCIM), Davidson leverages over 25 years of experience in real estate strategy, acquisitions, and development. His real estate career is underscored by the successful sourcing and securing of real estate assets across a diverse array of classes, including office, retail, multifamily, industrial, life science, medical-office, hospitality, a ..read more

Chicago-based Lexington Homes has announced the start of sales for Metro on Main, a new community of 89 townhomes in north suburban Morton Grove, Illinois. Sales have been swift so far, with 11 townhomes sold in the first two weeks of sales. Prices start at $448,990. With this new maintenance-free community comes the debut of the homebuilder’s fresh redesign of its popular Mews series of townhomes, which will be showcased in three model homes to be completed by this fall. Located at 8350 Lehigh Ave., Metro on Main is in a prime location near major retailers like Amazon Fres ..read more

The good news from the Colliers Metro Detroit first-quarter retail report? There was plenty, as the retail sector in the Detroit market continues to show growth. Colliers reported that the Detroit-area retail market saw 597,560 square feet of net absorption during the first quarter of 2024. That’s a solid showing, and one indicative of a sector in demand by tenants. The Southfield submarket was especially strong, recording 355,174 square feet of absorption during the first quarter, according to Colliers. These solid absorption numbers were fueled by tenant demand. Colliers said that the Detroi ..read more

Essex Realty Group closed the sale of a six-building multifamily portfolio consisting of 83 units in Chicago. The portfolio sold for more than $8.8 million or $106,928 a unit. The buildings are located in Chicago’s western suburb of Addison at 505 Stevens Drive, 530 Stevens Drive, 516 Green Oaks Court, 524 Green Oaks Court, 521 Green Oaks Court and 529 Macie Court. The portfolio consisted of 15 one-bedroom/one-bathroom units and 68 two-bedroom/one-bathroom units. The Essex team of Michael Anguiano, Jeremy DeMarco, Robert Berman, Daniel Shabsin and Joe Kalhammer facilitated the transaction on b ..read more

JLL’s Capital Markets group arranged a $290 million construction loan for Parkside Uptown, an approximately 500,000-square-foot, trophy Class-AA office tower being built in Uptown Dallas. JLL worked on behalf of the developer, Pacific Elm Properties, to secure the four-year, floating-rate loan from the Real Estate group within Goldman Sachs Alternatives. Due for completion in 2027, Parkside Uptown will stand 30 stories tall and offer trophy office space and top-of-the-line amenities, including a sky lobby and lounge, outdoor tenant terraces, fitness facilities and ground-floor retail ..read more

 Wingspan Development Group sold Sixteen30, a Class-A apartment community of 284 units it developed in Plainfield, Illinois, about 40 miles southwest of Chicago. Menomonee Falls, Wisconsin-based Continental Properties acquired the property, which is located at 14750 Wallin Drive and opened in August 2021. Alex Malzone, Parker Stewart and Dominic Martinez at Northmarq brokered the sale. Sixteen30 features eight garden-style buildings with neo-farmhouse exteriors surrounding a 7,500-square-foot clubhouse with a resort-style pool. The property offers a mix of studios, one-, two- an ..read more