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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
 

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. Hamilton Partners has acquired Highland Pointe, a Class A office complex in Lombard, Illinois…Comprised of two buildings, Highland Point totals 388,000 square feet of premium office space in the E/W Corridor. – REJournals
  2. After more than two years of waiting and renovating, Google has moved into its new digs in the West Loop. More than 650 Googlers relocated earlier this month from River North to their new offices at 1000 W. Fulton Market. The company will formally open the office with a ribbon-cutting Dec. 3. Like other Google offices, this one will allow pets. – Crain’s Chicago
  3. A summary of deals in commercial real estate throughout the Chicagoland area: This week’s Chicago Deal SheetBisnow
  4. Glassdoor, the online human resources site where users can rate their bosses and jobs, said it plans to open a Chicago office early next month and hire more than 250 people over the next three years. Glassdoor said this will be the company’s fifth worldwide office and it will announce the Chicago office location “shortly.” – Chicago Business Journal

  5. Crowdfunding has become something of a buzzword among investors these days and it’s been particularly well received in the real estate sector. Though it’s still in its infancy, real estate crowdfunding is rapidly reshaping the way individuals find and invest in properties. This shift has brought benefits not only for investors but also for real estate companies and for the real estate market as a whole. – Forbes
 

Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. As experienced real estate professionals can attest, one of the things that make the industry so fascinating is that real estate is, to a large extent, a direct reflection of society: broader social, cultural and professional trends are oftentimes the driving force behind emerging real estate trends. – Globe St.
  2. The growing desire among consumers for specially-crafted beers is creating a new niche in the world of commercial real estate, and Chicago is leading the way. That metro area’s craft beer industry had a a 65.9% growth rate between 2013 and 2014, and included 144 existing breweries and 39 others in the planning stage, making it the top craft beer market in the country, according to a new national market study. – Globe St.
  3. Many Chicago-area tech firms have recently decided to move their operations downtown to take advantage of city’s huge collection of talent. But some others believe that they can take advantage of what both city and suburbs offer. Brainlab, Inc., a Munich-based medical technology firm, has a newly designed office space at 5 Westbrook Corporate Center in suburban Westchester, and earlier this year it expanded its presence into downtown Chicago by opening a new state-of-the-art customer training center in the iconic Wrigley Building. – Globe St.
  4. The developer of a 52-story office tower rising along the Chicago River has scored two more tenants about a year before the building is expected to open. River Point, a high-rise at 444 W. Lake St., is now 70 percent pre-leased after adding two new tenants, developer Hines Interests confirmed. – Crain’s Chicago
  5. For years people have talked of turning Chicago into a “Silicon Prairie” meant to rival the nation’s coastal tech hubs, and even though it still can’t quite compete with the actual Silicon Valley, the city has recently emerged as a truly mature tech market. – Globe St.