Downtown Market Experiences a Slight Uptick in Vacancy; Still an Overall Positive Tone
Chicago’s downtown office market saw the vacancy rate increase this quarter for the first time since 2013. The slight increase from 13.1% in Q4 2014 to 13.3% was attributable to the BMO Harris relocation/contraction and downsizing of showroom tenants at 311 W. Monroe and the Merchandise Mart, respectively. Please note however the vacancy rate of 13.3% is well below the 14.0% in Q1 2014.
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CHICAGO, IL – Jeffrey Bernstein and Laurence Elbaum, principals and co-founders of Bradford Allen are pleased to announce that Matthew Alexander has joined the firm as Managing Director.
Joining Bradford Allen from DTZ, Mr. Alexander brings over 20 years of transactional experience in commercial real estate to his role. Matt has joined the firm’s tenant representation practice and will focus on expanding his portfolio of clients on a local, regional and national basis.
“Matt’s tenant representation background in national real estate along with his in-depth knowledge and expertise of Chicagoland are invaluable to his clients,” said Elbaum. “He understands the nuances of our industry and will be an important addition to the Bradford Allen team.”
Alexander did his undergraduate studies at the University of Illinois at Chicago. He is an active member of CoreNet Global and is a licensed real estate broker in the state of Illinois. He currently resides in Chicago, Illinois.
About Bradford Allen Realty Services
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, offers a full range of 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.