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Monthly Archives: December 2015

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. The beginning of a tightening cycle is a positive sign for the way experts view the economy, Auction.com‘s chief economist Peter Muoio tells GlobeSt.com. The firm recently released its latest Commercial Real Estate Nowcast, which revealed that commercial valuations in November increased 46 basis points from October. – Globe St.
  2. This morning, the U.S. Bureau of Labor Statistics (BLS) released preliminary November 2015 unemployment rates for all Metropolitan Statistical Areas (MSAs). The unemployment rate measures the percentage of the local workforce that reports itself as being out of work, information that the government collects by surveying households. – World Business Chicago
  3. The downtown office market continues to heat up as real estate powerhouse John Buck Company has announced a deal for Chicago-based CNA Financial to anchor its upcoming 35-story Class A office tower at 151 N. Franklin. – Curbed Chicago
  4. But the office market was strong too, highlighted by the $1.3 billion sale of the Willis Tower in June. Office landlords were also busy chasing big corporate tenants like Kraft Heinz, ConAgra and Motorola Solutions, which all decided to move their headquarters downtown. Here’s a look back at 10 of the biggest deals of the year. – Crain’s Chicago
  5. Experts say it’s time to move in these design directions to keep workers engaged and get the most out of your office space. You might think that the reams of analysis done on office space would have by now turned every workplace into a humming hive of engagement and productivity. Earlier this year, we even got an advance look at a research paper that outlined alternative design strategies to make workers happier. – Fast Company
 

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. Experts say it’s time to move in these design directions to keep workers engaged and get the most out of your office space. You might think that the reams of analysis done on office space would have by now turned every workplace into a humming hive of engagement and productivity. Earlier this year, we even got an advance look at a research paper that outlined alternative design strategies to make workers happier. – Fast Company
  2. Biggest Chicago real estate deals of 2015. The Chicago real estate market gained momentum in 2015, as prices kept rising, developers kept building and big tenants kept moving. – Crain’s Chicago
  3. The downtown office market continues to heat up as real estate powerhouse John Buck Company has announced a deal for Chicago-based CNA Financial to anchor its upcoming 35-story Class A office tower at 151 N. Franklin. – Curbed Chicago
  4. This morning, the U.S. Bureau of Labor Statistics (BLS) released preliminary November 2015 unemployment rates for all Metropolitan Statistical Areas (MSAs). The unemployment rate measures the percentage of the local workforce that reports itself as being out of work, information that the government collects by surveying households. – World Business Chicago
  5. The beginning of a tightening cycle is a positive sign for the way experts view the economy, Auction.com‘s chief economist Peter Muoio tells GlobeSt.com. The firm recently released its latest Commercial Real Estate Nowcast, which revealed that commercial valuations in November increased 46 basis points from October. – Globe St.
 

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. This week in real estate numbers – Bisnow
  2. More foreign money than ever has poured into Chicago-area real estate in 2015, and the year isn’t over yet. International investors paid $3.27 billion for properties here through last week, already well above the full-year record of $2.18 billion set in 2013, according to New York-based research firm Real Capital Analytics. – Crain’s Chicago
  3. CBRE Arranges 265,000 SF Lease Extension for Law Firm Mayer Brown in Chicago – REBusiness
  4. VelocityEHS, a growing Chicago-based software provider, has decided to move its global headquarters from 350 N. Orleans St. in River North to a new space across the street in the Merchandise Mart. The company will sublease more than 90,000 square feet of the Motorola Mobility top floor offices, further boosting the building’s reputation as a hub for the city’s tech scene. – Globe St.
  5. From all sides of the country, these new complexes give a whole new meaning to the term “office space.” With the help of our pals at Reis, Bisnow put together this list of the 10 biggest office complexes set to open for business in 2016. – Bisnow
 

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. The Missner Group will be starting the new year off with a big change. The firm has relocated its Skokie, Illinois-based headquarter offices to accommodate its recent growth. – REJournals
  2. This morning, the U.S. Bureau of Labor Statistics (BLS) released preliminary October 2015 unemployment rates for all Metropolitan Statistical Areas (MSAs). The unemployment rate measures the percentage of the local workforce that reports itself as being out of work, information that the government collects by surveying households. – World Business Chicago
  3. Brand-new office space is becoming scarce in downtown Chicago after Navigant Consulting leased the largest remaining large block under construction. – Crain’s Chicago
  4. Less than a year after raising its biggest investment fund, Harrison Street Real Estate Capital is nearly doubling the size of its headquarters in a move to an office tower under construction on the Chicago River. – Crain’s Chicago
  5. H. Ross Ford III, president and CEO of TCN Worldwide Real Estate Services, and David Greene, chairman of the TCN Worldwide Board of Directors, together with Patrick Morrissey, chairman of GVA Worldwide, reveal to GlobeSt.com that the international real estate advisors have agreed to create an alliance that extends the scope and capability of their respective organizations into key strategic markets. – Crain’s Chicago
 

TCN Worldwide and GVA Worldwide Negotiate a Transatlantic Alliance

LONDON and DALLAS, TX. – H. Ross Ford III, President & CEO of TCN Worldwide Real Estate Services, and David Greene, Chairman of the TCN Worldwide Board of Directors, together with Patrick Morrissey, Chairman of GVA Worldwide, announced today that the international real estate advisors have agreed to create an alliance that extends the scope and capability of their respective organizations into key strategic markets.

GVA Worldwide is an international network of independent commercial real estate companies working with a wide range of clients including occupiers, multi-national corporations, major space users, developers, owners, institutions, lenders and investors. Through its affiliated member firms, partners can harness the expertise of 5,000 professionals in over 120 offices across 25 countries worldwide.

The alliance with TCN Worldwide—a consortium of independent commercial real estate firms with approximately $38.8 billion in annual transactions and over 80 million square feet of space under management—will facilitate a range of services to both groups’ clients, including: transactions, strategic planning, market and site analysis, financial and fund structuring, lease consultancy, pre-acquisition due-diligence, valuation, asset, property and facilities management.

Patrick Morrissey, Chairman of GVA Worldwide, commented: “We have been in detailed discussions with TCN for some time. Our long standing ambition to establish a strategic alliance with a leading US real estate practice has been fulfilled. We have signed a memorandum of understanding with TCN. This agreement will form a hugely significant step in our plans to expand and strengthen not just our transatlantic ties but our wider cross-border capability throughout the GVA Worldwide community. As the markets continue to strengthen and the flows of capital continue our access to and representation in the US becomes increasingly important for our clients.”

  1. Ross Ford III, President and CEO of TCN Worldwide, stated: “We are excited to make this alliance a reality for our member firms. TCN serves more than 200 markets across the world and maintains an affiliate firm in nearly every major city in America. Expanding our network’s opportunities to better serve our many clients and extend the reach of our global partners across Europe is a significant success.” He added, “We will look to continue our global growth and work in concert with the GVA Worldwide team to take advantage of the many synergies our organizations share. Most importantly, we are already seeing several of our member firms and specialty teams working together on new business opportunities. We look forward to building on these early successes in the coming months.”

David Greene, Chairman of the Board of Directors of TCN Worldwide and President of Brokerage Services at MHP Real Estate Services in New York, added: “A strategic alliance between TCN Worldwide and GVA Worldwide increases our collective reach, strengthens our client base, and invigorates our individual firms. The new worldwide alliance now provides every individual in both affiliate organizations the chance to better serve their clients and prospects.” He added, “to be able to significantly expand our reach beyond the 200 markets that we currently serve through our independent affiliates is a distinct opportunity. This is an important alliance for TCN and all of our affiliates throughout America, Canada and the World and in particular, for MHP as the NYC affiliate for TCN and as a whole, we will continue to provide ‘best in class’ client services with sincerity and transparency.”

 

About GVA Worldwide

GVA Worldwide is a growing partnership of independent commercial real estate companies working with a wide range of clients including occupiers, multi-national corporations, major space users, developers, owners, institutions, lenders and investors. Its new partnership with Bilfinger Real Estate enables it to harness the expertise of 5,000 professionals in over 120 offices across 25 countries worldwide.

GVA Worldwide maintains a global presence, including Europe: Austria, Belgium, Czech Republic, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Russia, Spain, Switzerland, Turkey, United Kingdom; Asia Pacific: Australia, China, Hong Kong, India. For further information visit www.gvaworldwide.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 $38.8 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 800 commercial real estate professionals serving more than 200 primary and secondary markets worldwide. For more information on TCN Worldwide, contact H. Ross Ford or Nicole Hopkins at 972-769-8701 or visit www.TCNWorldwide.com

 

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.