Monthly Archives: January 2023

Ten with Ben 018: State of the Market

In our latest Ten with Ben, we sit down with BA’s own Dan Fernitz and Justin Kessler to discuss the state of the market. What were the big trends in 2022? Will they carry over to 2023? What’s next for the flight-to-quality, the return-to-office, supercharged amenities, suburbs vs downtown, foreclosures, and distress. With over a century’s worth of cumulative market knowledge at the table, the conversation was wide-ranging, well-informed, and chock full of insights.


Prefer the audio? Listen to the MP3 or stream from your favorite podcast provider.

 

Year-End 2022 Chicago Suburbs Office Market Report

Bradford Allen is pleased to share with you our latest office market report.

This half in the suburban office market:

  • Absorption levels improved but remained negative at -250,000 s.f. in the back half of 2022
  • Direct vacancy rate remained steady at 28.9%
  • The gross asking rate for the market is $26.22 p.s.f.
  • Sublet availability slightly decreased to 4.1%

 

Q4/22 Downtown Chicago Market Report

Bradford Allen is pleased to share with you our latest office market report.

This quarter in the downtown office market:

  • Absorption levels turned negative to end the year, posting -600,000 s.f. in Q4/22
  • Direct vacancy increased to 18.9%
  • The gross asking rate for the market is $42.64 p.s.f.
  • Sublet availability remained relatively unchanged at 4.2%