Wednesday, June 17, 2026
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IllinoisLeasing ActivityMidwestOffice

Huntington Bank Expands Chicago Office Lease to 60,900 SF

by Kristin Harlow

CHICAGO — Huntington Bank has signed a 10-year, 23,223-square-foot lease expansion at 222 N. LaSalle Street, growing its footprint to approximately 60,900 square feet at the 26-story building in downtown Chicago. Tishman Speyer owns the riverfront tower. The bank has operated at the property since 2011. Ellen May and Steve Golz internally represented Tishman Speyer, which also serves as property manager and leasing agent. Constructed in 1926, the building has recently undergone an expansive renovation program. The 1 million-square-foot tower is now 87 percent leased. All tenants have access to ZO Clubhouse, Tishman Speyer’s amenity network.

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AcquisitionsIndianaMidwestOfficeRetail

Cushman & Wakefield Brokers $12.3M Sale of Office, Retail Property in Carmel, Indiana

by Kristin Harlow

CARMEL, IND. — Cushman & Wakefield has brokered the $12.3 million sale of Monon & Main, a four-story, 34,650-square-foot office and retail property located at 211 W. Main St. in the northern Indianapolis suburb of Carmel. Situated in the Carmel Arts & Design District, Monon & Main was fully leased at the time of sale. Built in 2018, the property is comprised of 79 percent office and 21 percent retail space. Rebecca Wells of Cushman & Wakefield represented the seller, a private partnership led by the Hannum family. The buyer was a private investor.

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AcquisitionsLoansMidwestMultifamilyOhioSeniors Housing

Red Oak Capital Provides $11.1M Bridge Loan for Assisted Living Community in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Red Oak Capital Holdings LLC has provided $11.1 million in financing for the acquisition and capital improvements of Cottages of Clayton, a 90-unit assisted living community in Dayton. The bridge loan features an 18-month initial term and a loan-to-stabilized value of 69 percent. Stratos Athanassiades of Red Oak originated the loan, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower, Clayton Realco LLC, is a private investor group that owns and operates 12 senior living communities. Built in 1999, Cottages of Clayton features seven cottage-style buildings with 90 studio units. Each building contains its own kitchen, laundry facilities and resident lounge areas. Amenities include a dining room, activity room, salon and outdoor spaces.

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DevelopmentIllinoisIndustrialMidwest

Krusinski Breaks Ground on 32,000 SF Addition for Nonprofit Food Distribution Hub in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Krusinski Construction Co. has broken ground on a 32,000-square-foot addition to the Loaves & Fishes Community Services food distribution hub at 580 Exchange Court in Aurora. The project will expand the building to 62,000 square feet, enabling the nonprofit organization to meet the increasing needs of food-insecure individuals and families in DuPage, Kane, Kendall and Will counties. Since 2019, food insecurity in the area served by Loaves & Fishes has increased by more than 50 percent, according to a release. The expansion project will create greater storage capacity, improved distribution efficiencies and enhanced collaboration capabilities with partner pantries. Krusinski will build new and expanded freezer and cooler space, a larger depressed dock with more efficient access for deliveries by full-size semi-trucks and trailers and an improved site layout that increases parking capacity and flow. Construction will be completed in four phases and includes increasing the capacity of utilities. The project team includes Powers Brown Architecture and Cage Civil Engineering.

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AcquisitionsCompany NewsKentuckyRestaurantRetailSoutheastTop Stories

Yum Brands Agrees to Sell Pizza Hut in Two Separate Transactions Totaling $2.7B

by John Nelson

LOUISVILLE, KY. — Yum! Brands Inc. (NYSE: YUM), the Louisville-based operator of the Pizza Hut, Taco Bell and KFC franchises, has entered into an agreement to sell the Pizza Hut chain across two separate transactions with a combined value of $2.7 billion. LongRange Capital, a private equity firm based in Stamford, Conn., has agreed to purchase Pizza Hut outside of mainland China for approximately $1.5 billion. The company is financing its acquisition using funds from UBS Investment Bank. Yum China Holdings Inc. (NYSE: YUMC), which is based in Shanghai and was spun off from Yum! Brands in 2016, is acquiring the Pizza Hut holdings in mainland China for approximately $1.2 billion. Yum China says it is financing its acquisition using a combination of cash and debt financing. Yum! Brands announced in November that it began exploring strategic options for the Pizza Hut vertical. Founded in 1958, Pizza Hut is considered the second-largest pizza brand in the world with more than 15,500 restaurants in 108 countries globally and approximately $10 billion in annual system-wide sales, according to LongRange Capital. “Under LongRange and Yum China, Pizza Hut will be well-positioned for future growth with ownership that brings deep expertise in the restaurant …

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FeaturesFloridaRetailSoutheastSoutheast Feature Archive

Retailers Move Beyond Leasing to Legacy Ownership

by John Nelson

Earlier this year, Publix Super Markets purchased a portfolio of six Publix-anchored shopping centers in the Southeast for $130.4 million. The Lakeland, Fla.-based grocer has been aggressively growing its ownership portfolio of shopping centers as the company sees value in being its own landlord. Other large anchors like Walmart and Dillard’s have also purchased shopping centers and malls in recent months. Jason Donald, managing director of retail investment sales at Franklin Street, says that it’s not just the big box anchors that are getting in on the trend. Donald represents an undisclosed retail bank that is pursuing this strategy, which he says is becoming more popular as the capital markets make the ownership model more viable, especially for high creditworthy tenants. “With interest rates coming down and money being readily available, the propensity is shifting that tenants now want to own their own assets,” says Donald. “We’re seeing less leasing and more propensity to own, banks and gas stations especially are getting on that train. That’s the shift in the market we’re seeing more than anything else.” REBusinessOnline recently caught up with Donald to discuss the buyer pool for retail properties, as well as other investment sales trends including the …

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Morton-Porter-Roads-Katy
AcquisitionsDevelopmentMultifamilyRetailTexas

NewQuest Acquires Land for 334-Unit Apartment Community, Retail Center in Katy, Texas

by Taylor Williams

KATY, TEXAS — NewQuest has acquired land in the western Houston suburb of Katy for the development of a 334-unit apartment community and retail center. Of the 18.5 acres that the local developer purchased at the southwest corner of Morton and Porter roads, 11.8 will be dedicated to the development of the multifamily component, while the remainder will house the retail component. Designed by Meeks + Partners and developed by Pelican Builders, the apartments will come in one-, two- and three-bedroom floor plans and will have an average size of 865 square feet. Amenities will include a pool and multiple courtyards. The project’s retail component will comprise a 10,860-square-foot, multi-tenant building and five pad sites. Construction is expected to begin early next year.

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Leasing ActivityRetailTexas

Four New Tenants Sign Leases at Inwood Village in North Dallas

by Taylor Williams

DALLAS — Four new tenants have signed leases at Inwood Village, a historic shopping center and dining destination located at the intersection of Lovers Lane and Inwood Road in North Dallas. Outdoor lifestyle brand Ball and Buck, along with PopUp Bagels, have already opened at the center. In addition, boutique wellness brand Jungle Studio Fitness will debut in the coming weeks, while home furnishings retailer Rejuvenation by Williams-Sonoma will open toward the end of the year. Inwood Village first opened in 1947.

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DevelopmentRetailTexas

Kinective Fitness Club to Open 50,859 SF Gym in Plano

by Taylor Williams

PLANO, TEXAS — Kinective Fitness Club will open a 50,859-square-foot gym at 4520 State Highway 121 in Plano. The design of Kinective Plano, led by RDC, will be centered around four signature spaces that house seven studios: metabolic conditioning, HIIT (high-intensity interval training), group fitness, immersive cycling, yoga, meditation and Pilates reformer. The club will also offer group fitness classes across all seven studios. The opening is scheduled for early 2027.

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IndustrialLeasing ActivityTexas

American Foam Rubber Renews 17,067 SF Industrial Lease in Dallas

by Taylor Williams

DALLAS — American Foam Rubber has renewed its 17,067-square-foot industrial lease in Dallas. The space is located within a development known as Dallas Commerce Center. Brett Lewis of Lee & Associates represented the tenant in the lease negotiations. Canon Shoults, Maddy Coffman and Luke Floyd of Holt Lunsford Commercial represented the landlord, AEW Capital Management.

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