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Monthly Archives: December 2012

Bradford Allen Brings Aurora Office Building to Full Occupancy

CHICAGO –  Bradford Allen Realty Services represented UBS Realty Investors, LLC in a 22,000 SF new lease for Styrolution America, at 4245 Meridian Parkway in Aurora.  The 140,300 square foot office property is now 100 percent leased.

Cody Sundberg, a director at Bradford Allen, represented the building owner, UBS Realty Investors. Styrolution America, a global styrenics company, was represented by Aubrey Van Reken and Jim Adler of NAI Hiffman.   Styrolution is relocating their regional headquarters from Channahan, Illinois.  

“The building presented a unique leasing opportunity as this portion of the East/West corridor is more commonly known for large, single tenant office users and industrial space,” said Sundberg. “However, given its proximity to I-55, the location was perfect for Styrolution which employs a worker base largely from south of Aurora.”

“Cody’s comprehensive leasing and marketing efforts and direct outreach to the brokerage community helped to successfully lease up the property,” added Jeffrey Bernstein, principal and co-founder of Bradford Allen who leads the firm’s growing agency practice.

About Bradford Allen 
Bradford Allen Realty Services, a Chicago-based, national commercial real estate company that provides a full array of brokerage services and expertise to entrepreneurial and corporate business entities as well as not-for-profit organizations.  The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. For more information please visit our website at www.bradfordallen.com

 

 

Fourth Quarter 2012 Chicago Suburban Office Market Report

Momentum Continues Building for the Improving Suburban Chicago Office Market

Transaction activity within the suburban Chicago office market accelerated during the second half of the year, and 2012 finished on a positive note. This improvement was echoed in most of the major market statistics, particularly the vacancy and absorption rates. The overall vacancy rate declined and ended the year at 17.3% as compared to 19.3% at the 2011 year end. The strong leasing activity in the fourth quarter also resulted in more than 450,000 SF of positive net absorption, bringing the full year positive net absorption to more than 1.2 million SF.

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Fourth Quarter 2012 Chicago Downtown Office Market Report

Downtown Chicago Office Market Ends 2012 on the Upswing

Despite all the challenges and questions facing the economy, there’s no denying that the downtown Chicago office market has been on the mend and finished the year on a positive note. Overall vacancies declined one full percentage point from the third quarter and ended 2012 at 12.7% down from 13.3% in 2011. This is the lowest year-end vacancy rate since the global economic crisis.

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