RE Journals - Midwest and Chicago commercial real estate news

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What’s driving distribution? CBRE experts weigh in on the industrial market

In the pre-pandemic world, e-commerce was already a giant. Industry observers predicted it would account for more than a third of all retail sales by the year 2030. Now, roughly a year since we first heard about COVID-19, the virus helped accelerate the growth of e-commerce in a way few could have predicted in 2019.

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Lifetime Achievement Award Winner John Allen: The determination of a pit bull clutching a chuck roast

John Allen has long been a big name in the Minnesota commercial real estate community. Not only did he thrive as a broker with Coldwell Banker, he also founded his own firm, starting Industrial Equities in 1983. That development and investment firm, one that focuses on industrial real estate, is thriving today, with a portfolio of more than 3 million square feet of industrial space.

A trap for the unwary in the CARES Act ‘retail glitch’ fix

When the CARES Act provided a technical correction for the so-called “retail glitch” in the Tax Cuts and Jobs Act, it also created a trap that could cause taxpayers to permanently lose future qualified improvement property (QIP) depreciation deductions.

Green Street St. Louis, HDA Architects join forces in St. Louis

Green Street St. Louis and HDA Architects are joining forces to create a fully integrated development company in St. Louis, Missouri.

Cressy Commercial restarts rehab work of mixed-use building in Benton Harbor

Cressy Commercial Real Estate has retarted construction of Benton Harbor Flats in Benton Harbor, Michigan, after a delay resulting from the coronavirus pandemic.

Logistics firm takes 68,000-square-foot space in Wood Dale

ML Realty Partners announced that Bestway Transport, Inc. has leased 67,932 square feet of warehouse space at 888 Central Avenue in Wood Dale, Illinois.

Essex Realty Group brokers two Chicago apartment building sales

Essex Realty Group recently arranged the sales of two multifamily properties in Chicago. The separate transactions involved one property in the South Shore neighborhood and another in the North Park neighborhood.

DFW-area multifamily project, Millennium at Hometown, secures $49M refi

JLL Capital Markets arranged a $49.1 million refinancing for the Millennium at Hometown, a to-be-completed, Class-A, multi-housing project comprising 306 apartments and 11,697 square feet of retail located at 6021 Parker Boulevard in North Richland Hills, Texas.

NAI Partners brokers sale of Austin’s Davenport 360 office property

NAI Partners has arranged the sale of Davenport 360, a 37,500-square-foot, Class A office property located at 6001 Bold Ruler Way in Austin. Pharmacists Mutual Insurance Group acquired the asset for an undisclosed sum.