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DevelopmentHospitalityIndianaMidwest

Hilton to Open 800-Room Signia Hotel in Indianapolis in February 2027

by Kristin Harlow

INDIANAPOLIS — The 800-room Signia by Hilton Indianapolis hotel is now available for reservations beginning Feb. 1, 2027. The project marks the city’s tallest hotel and the Indiana Convention Center’s newest headquarters hotel, according to Hilton. It will also be the first property in both the Midwest and Indiana for the “approachable luxury brand.” The City of Indianapolis will own the hotel, with operations led by the Capital Improvement Board of Managers of Marion County, a municipal corporation of Marion County. The hotel will be located along the Georgia Street pedestrian promenade in the Wholesale District, with direct access via skywalk to the Indiana Convention Center. The property will offer convenient access to Lucas Oil Stadium and Gainbridge Fieldhouse. Designed by Ratio Design, the property will include 70 suites ranging from 450 to 1,900 square feet. The interiors, designed by Rottet Studio Architecture and Design, will abstractly reference Indianapolis’s connection to car culture and the luxury of auto racing. The property will also feature a public art collection curated by Art Strategies. Guests will enjoy seven chef-driven dining and bar concepts, including a lobby bar, an all-day restaurant focused on elevated comfort fare and a 38th-floor bar and lounge. Additional …

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IllinoisLeasing ActivityMidwestRetail

American Eagle Signs 14,182 SF Lease for Michigan Avenue Flagship Store in Chicago

by Kristin Harlow

CHICAGO — American Eagle Outfitters has signed a lease for a new flagship store at 600 N. Michigan Ave. in Chicago. The 14,182-square-foot store is expected to open on July 1, 2027. American Eagle will occupy space opposite UNIQLO, which returned to Michigan Avenue with its store opening in March. The Chicago flagship will be American Eagle’s second flagship store in the U.S., following the opening of its New York City flagship late last year. The surrounding stretch of Michigan Avenue recently saw the opening of Aritzia and a new home for The North Face. The Cube, a London-based urban playground concept, is slated to open this summer. The Candy Hall of Fame will debut in summer 2027. Marget Graham, Dick Spinell and Stan Nitzberg of Mid-America Asset Management represented the owners of 600 N. Michigan Ave. Jim Sakanich and Riley McCarron of CBRE represented American Eagle.

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AcquisitionsIowaMidwestOffice

NAI Ruhl Brokers Sale of Two Office Buildings Totaling 113,427 SF in Quad Cities

by Kristin Harlow

DAVENPORT AND BETTENDORF, IOWA — NAI Ruhl Commercial Co. has brokered the sale of two office buildings in the Quad Cities. The properties were formerly owned by the Slavens family and served as the longtime home of Northwest Bank & Trust, now Time Bank. A nine-story building at 100 E. Kimberly Road in Davenport totals 67,839 square feet, while a six-story building at 2550 Middle Road in Bettendorf totals 45,588 square feet. Both properties are considered regional landmarks, according to NAI Ruhl. They house approximately 60 tenants, including business uses such as banking, legal services, accounting, medical practices and counseling services. Charlie Armstrong and Alex Kelly of NAI Ruhl represented the buyer, Avalair Group. Bobbie Slavens of Hawkeye Commercial Real Estate represented the seller, River Cities Development LLC, a subsidiary of Northwest Investment Corp. Tower Trust & Investment Co. and Centennial Tax & Accounting, both subsidiaries of Northwest Investment Corp., will continue as full-floor tenants. Armstrong and Kelly will handle leasing for both properties, and NAI Ruhl’s property management division will provide property management services.

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DevelopmentMidwestMissouriMultifamily

HDA Leads Historic Renovation of Liberty Hospital Building in St. Louis

by Kristin Harlow

ST. LOUIS — HDA is serving as the architect for the historic renovation of 4500 Washington, a four-story building in St. Louis that was originally constructed in the 1920s as Liberty Hospital. The first osteopathic hospital in the city, the building later evolved into a neighborhood hub for youth programs, gatherings and support services. Today, MBG is transforming the property into 31 apartment units, a dedicated community space for veterans and a revitalized neighborhood hub. The building’s history is deeply intertwined with Leo Hardin Sr., a Korean War veteran and longtime pastor of Christ Temple First Church located across the street. Through the leadership of his son, Jeff Hardin, the building is entering a new chapter. The goal is to return the property to its original role, serving as a place of care, belonging and community connection. The dedicated space for veterans will serve as a tribute to Hardin Sr.

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Market ReportsMidwestMidwest Market ReportsMinnesotaOffice

In 2026, Twin Cities Office Market Is Sorting

by Kristin Harlow

By Anders Pesavento, Cushman & Wakefield If you have ever been to a pro sports game or a concert and felt that collective buzz, you know exactly what I mean — it is electric. The kind of energy that makes you look around and think, right, this is why we do this. I felt it first-hand when the Cross Country Skiing World Cup came to Minneapolis in 2024, and more than 30,000 people packed into one place to cheer on the athletes. That day was a reminder you cannot replicate with a livestream or a group chat: humans feed off other humans. The office market is tapping into that same instinct, just in a quieter way. That is why the conversation has moved from whether office matters to which offices matter. It is not a blanket comeback. It is a sorting. We are not rewinding to 2019. Companies are using spaces differently and choosing buildings that help them recruit and retain talent. Hybrid schedules are real, but so is the need for culture, onboarding and collaboration that works best face-to-face. That shift makes “vacancy” a blunt instrument. Real vacancy is the space that is truly available in buildings that can …

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DevelopmentMidwestMultifamilyOhio

Cross Street Begins Leasing Efforts for 124-Unit Westline Apartment Community in Lakewood, Ohio

by Kristin Harlow

LAKEWOOD, OHIO — Cross Street has begun leasing, marketing and property management services for Westline, a two-building apartment community located at 16000 Detroit Ave. in Lakewood, a suburb of Cleveland. Resident move-ins at the property, which is 20 percent preleased, will begin in late April. Westline features 124 units starting at $1,695 per month. Amenities include a fitness center, resident lounge, package services and bike storage. Reserved parking is available in the attached garage.

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AcquisitionsIllinoisMidwestRetail

Boulder Group Arranges $3.5M Sale of Staples-Occupied Retail Property in Metro Chicago

by Kristin Harlow

NAPERVILLE, ILL. — The Boulder Group has arranged the $3.5 million sale of a single-tenant retail property net leased to Staples in Naperville within metro Chicago. The 22,888-square-foot building is situated on 2.4 acres. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a real estate investment firm. The buyer was a Southeast-based investment company. The Staples lease expires on March 31, 2032. The tenant has operated at the location since 2006.

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AcquisitionsIndustrialMidwestOhio

NAI Pleasant Valley Brokers Sale of 50,000 SF Industrial Building in Twinsburg, Ohio

by Kristin Harlow

TWINSBURG, OHIO — NAI Pleasant Valley has brokered the sale of a 50,000-square-foot industrial building in Twinsburg, located midway between Akron and Cleveland. The sale of the property at 2300 E. Enterprise Parkway follows the earlier sale of the sister property at 2377 E. Enterprise Parkway in late 2025. Both buildings sold to separate investment buyers, with Keltec Technolab remaining as the tenant in both properties. Both transactions achieved near-asking prices and reflected cap rates slightly under 8 percent. Bob and Scott Raskow of NAI Pleasant Valley were the brokers.

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DevelopmentHealthcareMidwestMinnesota

Kraus-Anderson Completes 10,000 SF Remodel at Lakeview Clinic in Waconia, Minnesota

by Kristin Harlow

WACONIA, MINN. — Kraus-Anderson has completed an interior and exterior remodel of Lakeview Clinic in Waconia, about 35 miles southwest of Minneapolis. Designed by DSGW Architecture, the project includes a 10,000-square-foot renovation. Key updates included relocating the main entrance; phased enhancements to the waiting areas and registration desk; and the expansion and renovation of the OB/GYN and podiatry clinics as well as the optical shop. The project also added new patient parking, including handicap stalls directly adjacent to the new entrance. Lakeview Clinic is an independent, physician-owned multispecialty group that has served the area for 70 years. Lakeview also operates clinics in Chaska, Norwood and Watertown.

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DevelopmentIllinoisMidwestOfficeTop Stories

Skender Completes 535,000 SF Office Development in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Chicago-based general contractor Skender has completed The Fulton, an 11-story, 535,000-square-foot office development at 217 N. Sangamon St. in Chicago’s Fulton Market neighborhood. Developed by Fulton Street Cos. and Shanna Collective, the project marks the only Class A office building to break ground in Chicago since 2023, according to Skender. Designed by FitzGerald Associates Architects and Morris Adjmi Architects, The Fulton features floor-to-ceiling windows, several outdoor terraces, a rooftop lounge and bar, multiple conference and coworking spaces and a fitness center. A basement provides parking for up to 80 vehicles. Additionally, a glass atrium connects the new development with a redevelopment of the historic Schwinn Bicycle factory, which is being converted from apartments into office space. Alex Panici, vice president at Skender, says the project brings the perfect blend of historical significance and modern design. “A tremendous amount of thought was put into everything from the material selection to the energy efficiency, and this property is sure to meet the needs of the modern workforce long into the future.” The Fulton is both WELL- and LEED Silver-certified. Committed office tenants include The Coca-Cola Co., Harrison Street Asset Management, BlackEdge Capital and Permanent Capital. Gibsons Steakhouse and Equinox Fitness …

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