JERICHO, N.Y. AND ROSEMONT, ILL. — Esquire Financial Holdings Inc. (NASDAQ: ESQ), the parent company of Esquire Bank, and Signature Bancorporation Inc., the parent company of Rosemont-based Signature Bank, have entered into a definitive agreement pursuant to which Esquire will acquire Signature in an all-stock transaction valued at $348.4 million. The combined company will have approximately $4.8 billion in assets at closing. The deal provides Jericho-based Esquire with a Chicago-area commercial banking franchise. Signature brings longstanding history of commercial and commercial real estate relationship banking in the Chicago market. Esquire is active in the litigation vertical and is looking to expand its presence in the Chicago market. Each of the combined company’s and bank’s board of directors will consist of 11 directors, including nine from Esquire and two from Signature. Signature’s top three executives have entered into new employment agreements and will oversee commercial business development opportunities and operations in the Chicago market. The merger has been approved by the board of directors of each company. The transaction remains subject to regulatory approval, approval of Esquire and Signature shareholders and other customary closing conditions. The transaction is expected to close in the third quarter.
EFFINGHAM, ILL., JOPLIN, MO. AND PADUCAH, KY. — CBRE has arranged the sale of a six-property, 589-room Hilton select-service and extended-stay hotel portfolio located across Illinois, Missouri and Kentucky. Chatham Lodging Trust acquired the portfolio. Nate Sahn and James Foxx of CBRE represented the seller, McHugh Hospitality Group. The properties include Home2 Suites Effingham, Hampton Inn & Suites Effingham, Home2 Suites Joplin, Homewood Suites Joplin, Hampton Inn & Suites Paducah and Homewood Suites Paducah. Several of the assets received recent renovations.
MARQUETTE, IOWA — Bally’s Marquette has opened its new 31,280-square-foot gaming and entertainment destination in northeast Iowa. The $26.2 million project transformed the historic riverboat casino into a permanent landside facility at 100 Anti Monopoly St. The property features more than 400 slot machines and electronic table games, live blackjack and Ultimate Texas Hold ‘Em as well as a sportsbook. Dining and beverage concepts include 1994 Sports Bar, Sidecar Bar, Benchfront Coffee and Riverside Grill. The landside move created nearly 80 new jobs. Bally’s operates 19 casinos across 11 states.
BUCHANAN, MICH. — AutoZone has leased an 8,000-square-foot former Rite Aid store located at 715 E. Front St. in Buchanan within southwest Michigan. Construction is underway at the building. Joshua Jacobs of NAI Wisinski of West Michigan and Brandon Hanna of Encore Real Estate Investment Services represented the undisclosed landlord. Mike Murray of Advantage Commercial Real Estate represented the tenant, which operates more than 6,000 stores nationwide.
DETROIT — Colliers has arranged the sale of Huntington Tower, a 21-story office building located at 2025 Woodward Ave. in downtown Detroit. Completed in 2022, the 311-foot-tall property includes 203,300 square feet of office space across 10 floors along with 10 levels of structured parking, a ground-floor bank and lobby, collaborative workspaces and flexible floor plates designed to accommodate up to 800 employees. The asset, located across from Comerica Park in the heart of The District Detroit, features a long-term net lease to Huntington Bancshares. Raymond Jonna of Colliers represented the undisclosed buyer and the seller, The Herrick Co., a Florida-based investment firm. The transaction is likely the most expensive office sale in city history, according to Crain’s Detroit Business.
RIVERSIDE, MO. — Gantry has secured a $25.5 million permanent loan to retire maturing construction debt from the development of Riverside Logistics Centre II, a 328,000-square-foot, multi-tenant logistics facility in the northwest Kansas City suburb of Riverside. The building features a clear height of 36 feet, 36 overhead dock doors, four drive-in doors and parking for 88 trailers. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. A life insurance company provided the nonrecourse loan, which features a seven-year term, fixed interest rate and 27-year amortization.
ARLINGTON HEIGHTS, ILL. — Skender has broken ground on The Moorings of Arlington Heights, a senior living community operated by Presbyterian Living in metro Chicago. The 172,000-square-foot project will include 70 independent living apartments as part of a larger campus expansion and repositioning at 811 E. Central Road. Designed by Perkins Eastman, the residences will range from 1,050 to 1,900 square feet. The five-story building will include a social and wellness space. Additional amenities will include walking paths, a pond expansion, sitting area and outdoor space. Completion is slated for fall 2027.
KANSAS CITY, MO. — Block & Co. Inc. Realtors has brokered the sale of the New Mark Shopping Center, an 81,884-square-foot neighborhood retail center in Kansas City anchored by a 52,000-square-foot Sun Fresh Grocery store. The property was 95 percent leased at the time of sale. Block & Co. originally purchased the center in 2001, one year after it was developed by Associated Wholesale Grocers. Since that time, Block & Co. served as the leasing and property management company for the shopping center. David Block and Jay Friedman of Block & Co. negotiated the investment sale on behalf of the property ownership.
By Andy Gutman, Farbman Group The Detroit office market has moved past the initial shock of the post-pandemic years, but the idea that all challenges are over would be premature. Looking ahead in 2026, office in Detroit would be best described as stabilizing but still highly selective, shaped by a continued flight to quality, cautious capital markets and a growing emphasis on service and tenant experience. While vacancy remains elevated compared with pre-pandemic norms, limited new construction and a clear bifurcation between high- and low-quality assets are helping prevent further deterioration. The next phase of the cycle will be defined by how effectively landlords adapt to tenant expectations and how long it takes for capital markets to allow older assets to meaningfully change hands. Detroit office in 2026 By the numbers, Detroit’s office market in 2026 shows stability without significant growth pressure. Vacancy estimates range from approximately 15.7 to 23.3 percent, depending on data source and asset class. Marcus & Millichap, for example, projects a 2026 year-end vacancy of roughly 15.7 percent, which is a modest 10-basis-point increase year-over-year. Broader datasets that include older inventory report vacancy closer to 23 percent. Asking rents have remained largely flat, with Class A …
CHICAGO — JLL Capital Markets has arranged a $25.2 million loan for the refinancing of Chateau on Wells, a 43-unit luxury apartment building in downtown Chicago. The boutique property, built in 2016, features one retail suite and is located at 707 N. Wells St. in the heart of the River North entertainment district. Current occupancy is 95 percent. Units average 1,059 square feet and monthly rents average $4,091. Jesse Wright, Joshua Odessky, Sam Tarter, Miguel Pedersen and Ben Banzhof of JLL represented the borrower, Akara Partners, in arranging the three-year, floating-rate loan through D2 Residential.
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