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Monthly Archives: July 2015

Bradford Allen Represents Synthesis Technology in Loop Office Relocation

CHICAGO, IL  – Bradford Allen Realty Services is pleased to announce that Senior Managing Director Craig Nadborne has completed a new 11,133 square foot lease on behalf of long-time client Synthesis Technology at 135 S. LaSalle Street in Chicago.

Founded in 1998, Synthesis Technology offers marketing operation solutions for investment management companies. The firm currently leases approximately 7,200 square feet at 820 W. Jackson Street. Due to the firm’s organic growth and need for additional space, Synthesis Technology chose to relocate to a portion of the  20th floor of 135 S. LaSalle, where it will lease 11,133 square feet.

Nadborne assisted the firm with its site selection & analysis; ultimately securing space within 135 S. LaSalle, a centrally located, Class A, 44-story, 1,258,205 square foot building, known for its modern amenities, as well as its distinctive architecture & design. Synthesis Technology will move into the new Loop space this month.  This is the fifth transaction in 17 years Nadborne has completed for Synthesis Technology.

“We have known and worked with Craig and the Bradford Allen team for over 17 years, and therefore he was the first person we called when we decided to relocate,” said John Toepfer, President of Synthesis Technology. “Originally we were in-lease with another Loop property, but due to unforeseen complications, we decided to explore alternative options. Craig was able to draw from his extensive resources and quickly found a spec space at 135 S. LaSalle which offered furnishings, a competitive rental rate as well as additional TI dollars to modify the space and really make it our own. Thanks to Craig, the deal was done in less than three weeks.”

“We are thrilled to have assisted Synthesis Technology in this relocation,” said Bradford Allen’s Nadborne. “135 S. LaSalle provides our client with a central location close to public transportation, an outstanding package of amenities, as well as a competitive rental rate and the square footage needed to accommodate the firm’s current and future space requirements.”

Nadborne represented Synthesis Technology in the lease negotiations and Melissa Rubenstein and John Beason of JLL represented building ownership.

 

 

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.

 

Mid-Year 2015 Chicago Suburban Office Market Report

Suburban Office Market Continues to Strengthen; Vacancy and Availability Rates Decrease

The Suburban office market continued to improve going into the 3Q of 2015. The vacancy rate decreased from 18.9% to 17.8% and the availability rate decreased from 24.4% to 22.3% year over year, respectively. While YTD net absorption is essentially flat at negative 27,182 SF thru the mid-year, it is significantly better than the negative 518,096 thru mid-year 2014. Overall these statistics indicate that the suburban market is becoming healthier and more dynamic.

Read Full Market Report Here

 

Second Quarter 2015 Chicago Downtown Office Market Report

Downtown Market Approaches Equilibrium as the Vacancy Rate Continues to Decrease and Asking Rates Increase

Chicago’s downtown office market is continuing to become tighter. The overall vacancy rate has decreased from 13.4% to 12.6%, year over year. This is the lowest it has been since the end of 2008 and now brings the market almost to equilibrium. Simultaneously Chicago’s unemployment rate continued to improve in the second quarter. According to the Illinois Department of Employment Security, Chicago’s unemployment rate decrease from 7.7% in May 2014 to 6.7%, May 2015.

Read Full Market Report Here

 

John Skalla Joins Bradford Allen as Associate

CHICAGO, IL – Jeffrey Bernstein and Laurence Elbaum, principals and co-founders of Bradford Allen are pleased to announce that the firm has hired a new team member. John Skalla has joined as an Associate.

As an associate with Bradford Allen, Skalla will provide tenant and landlord representation services. Skalla brings over six years of industry experience to his new role. Prior to joining Bradford Allen, he worked with SC Group Real Estate and Avison Young. Skalla is an undergraduate of the University of Dayton.

 

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.