CRE Office Pulse 007: Chicago Remains a Top Prospect

For corporate headquarters decisions, Chicago ranks well among its competitors, and the reasons companies chose the city prior to the pandemic have remained relatively unchanged. The diverse talent pool, favorable location, extensive transit options and relatively less expensive cost-of-living creates an ideal situation for employers and employees. Even though the pandemic created a structural shift in the office market, companies continue to reaffirm their commitment to city, helping the long-term stability of Chicago’s CBD.

 

Client Success Story: Lindsay, Pickett & Postel, LLC

Lindsay, Pickett & Postel, LLC (LPP) was occupying two separate offices in the same building and wanted to consolidate to a single, high-class, high-rise space with east-facing views and abundant natural light. Bradford Allen identified suitable options, negotiated hard for client-friendly terms, and provided a solution for the client to sublease its existing spaces.

Watch the video to hear Managing Partner Christopher J. Pickett discuss working with the Azulay Team at Bradford Allen’s Tenant Representation Practice.

 

CRE Office Pulse 006: Chicago Office Supply Growth Screeches to a Halt

In Chicago’s CBD, new office construction has come to a screeching halt, only a couple years after hitting record highs. And even as the effects of the pandemic dissipate, new development continues slowing. What’s behind this deceleration in supply growth? We identify four primary factors weighing on the office construction market and discuss long-run implications for the CBD.

Read on to find out more

 

CRE Office Pulse 005: Leaders & Laggards in the Pandemic

In our previous Office Pulse, we challenged the conventional view that the suburban Chicago office market was suffering from record-high vacancy rates brought on by the pandemic. In this follow-up, we set out to examine Chicago’s central business district (CBD) office market using a similar methodology to understand how the pandemic affected longer-term occupancy trends downtown. Chicago tenants are at a crossroads, and the data clearly reveal how Covid-19 caused a new disruption in the CBD.

Read on to find out more

 

CRE Office Pulse 004: Chicago’s Suburban Office Market — More Competitive Than You Think

Suburban Chicago’s office vacancy rates may seem historically high, but the headline numbers overlook key details about the marketplace. Large, low-quality properties are having an outsized effect on the averages. Removing these “zombies” from the data shows the market is more competitive than you think.

Read on to find out more