Monthly Archives: March 2011

TCN Worldwide Recognized as one of the Top Commercial Real Estate Industry’s Top Brands

Chicago, IL — Bradford Allen/TCN Worldwide has announced that TCN Worldwide was named one of the most recognizable brands within commercial real estate by The Lipsey Company, a third party consulting firm specializing in the commercial real estate industry. Lipsey’s prestigious annual Top 25 Commercial Real Estate Brands Survey ranks companies and organizations across all sectors of the commercial real estate industry, including Brokerage, REITs, Service Companies, Institutions, etc.
 
TCN Worldwide has consistently ranked as one of the top brands in the CRE industry on Lipsey’s annual Top 25 Commercial Real Estate Brands Survey since 2003. The organization has experienced considerable momentum in recent years, climbing ten places in just three years. This year TCN Worldwide maintains that momentum, moving to number eleven.

“It is an honor to be recognized as one of the industry’s top brands in this year’s Top Commercial Real Estate Brands Survey,” stated Laurence Elbaum, principal and co-founder of Bradford Allen and chairman of the TCN Worldwide Board of Directors.  “TCN Worldwide is not only building marketshare, but also a reputation as one of the leading brand names in commercial real estate. We are proud to be affiliated with TCN, through which we are able to better meet our clients’ needs locally, regionally, nationally and internationally.”

H. Ross Ford, president and CEO of TCN Worldwide, added, “As an industry leader, Lipsey’s ranking reaffirms TCN Worldwide’s position as one of the most recognizable and a top brand within the industry. We congratulate each of our members, especially Bradford Allen on its continued achievement. Representing over 200 markets worldwide, our member firms have collectively made TCN Worldwide a global leader in the marketplace.”

About Bradford Allen 
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, makes a full range of services and expertise available to entrepreneurial and corporate business entities, and not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. Please visit our website at www.bradfordallen.com.

About TCN Worldwide
TCN Worldwide, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally.  With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry.  An extensive range of real estate services coupled with a personal commitment to exceed client expectations is what allows TCN Worldwide to be a leader within the commercial real estate industry.  Formed in 1989, TCN Worldwide is comprised of over 1,200 commercial real estate professionals serving more than 200 primary and secondary markets worldwide.  For more information on TCN Worldwide, contact Claudia E. Crow at 972-769-8701 or visitwww.tcnworldwide.com.

 

Bradford Allen Expands its Suburban Agency Services Team

CHICAGO – Jeffrey Bernstein and Laurence Elbaum, principals and co-founders of Bradford Allen are pleased to announce that Cody Sundberg and Rawly Lantz have joined the firm’s Downers Grove office as Managing Director and Director respectively.  

Sundberg and Lantz come to Bradford Allen from Cawley Chicago Commercial Realty and will focus on agency representation in the suburban Chicago market. The duo also brings two significant agency projects to the firm, the Oak Creek Center of Lombard, Illinois and 950 Warrenville Road in Lisle, Illinois. The Oak Creek Center is a master-planned office park comprised of eleven office and flex buildings situated on 70 acres of land. The majority of the property is currently occupied, but various units are available. 950 Warrenville Road in Lisle is a 99,000 square foot, three-story, Class A office facility with immediate access to Interstate 88. The property is 93% leased.

“The addition of Cody and Rawly, two esteemed industry professionals, is a testament to the success of our unique leasing strategies and marketing programs,” said Bernstein, who leads the firm’s growing agency practice. “It’s also a valuable opportunity for Bradford Allen to expand our agency capabilities and presence in the suburban market.”

Joel Berger, Managing Director of Bradford Allen who oversees the suburban office added, “Cody and Rawly bring several years of experience and vast industry knowledge to our team. They will offer significant advantages to our current clients and will enable us to develop new relationships throughout the marketplace.”

Prior to joining Bradford Allen, Sundberg was a senior vice president with Cawley Chicago. He has closed nearly 700,000 square feet in transactions in both Illinois and Arizona where he is a licensed sales person. Sundberg is actively pursuing the Society of Industrial and Office Realtors (SIOR) and Commercial Investment Real Estate Institute (CCIM) designations. He is a graduate of Miami University in Oxford, Ohio and currently resides in Chicago.

Lantz, also previously employed at Cawley Chicago where he served as vice president, joins the firm having negotiated more than $15,000,000 in rental income for his clients. He has represented multiple institutional owners including KBS, Lexington Realty Trust and Stone Creek Properties. He is a member of the Chicago Chapter of NAIOP and licensed sales person in Illinois. Lantz is a graduate of Western Illinois University, an avid golfer and a volunteer for the Make-A-Wish Foundation. He currently resides in Western Springs, Ill.

About Bradford Allen 
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, makes a full range of services and expertise available to entrepreneurial and corporate business entities, and not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. Please visit our website at www.bradfordallen.com.

 

First Quarter 2011 Chicago Downtown Office Market Report

Bouncing along the bottom: Downtown office market remains stable as it grinds through sublease space

The encouraging streak of recent quarters of positive net absorption did not continue during the first quarter, but we do not think this portends any real deterioration in the market. In fact, we continue to believe that the overall Chicago office market bottomed in early 2010, and any prolonged economic improvement will ultimately be reflected in the statistics over the medium term.

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First Quarter 2011 Chicago Suburban Office Market Report

Signs of slow improvement continue to emerge in suburban Chicago, particularly in Class A Space

Although the Chicago suburban office market appears to have stabilized, there is no escaping that significant excess supply, both direct and sublease space, continues to overhang the market. The good news is that leasing activity, which re-emerged and accelerated last year, helped stem the deterioration in market fundamentals. It was encouraging to see that trend continue early this year. A healthier level of demand was evident throughout the first quarter, which helped push the overall availability rate down to 27.3%, which is an improvement from the year-end availability rate of 28.1%. The direct vacancy rate ended the quarter at 23.3%.

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