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Chicago Commercial Real Estate – In the News

Tom’s Recommended Reading for the Week

  1. A Look at How DTZ and Cushman & Wakefield’s U.S. Market Coverage Stacks Up – Backed by global investment giant TPG Capital, DTZ’s plan to buy Cushman & Wakefield for a reported $2 billion is the latest and by far largest in a series of high-level moves ushering in major changes across the U.S. commercial real estate services landscape... CoStar
  2. Adding on to the Willis Tower? – Chicago’s tallest building could get wider, too, now that Blackstone Group has finalized its $1.3 billion acquisition of 110-story Willis Tower today. After closing on its anticipated purchase this afternoon, the New York-based private equity firm is drawing up plans for dramatic changes to the 42-year-old tower… Crain’s Chicago
  3. An L.A. idea that smart Chicago landlords may soon steal – Developer Rick Caruso has a new plan for your workday: let your office building do your laundry, shop for groceries, pick up dinner and deliver it all to you by 5 p.m. “After a long day at the office, you want us to pack a couple of steaks and a bottle of wine in your car?… Crain’s Chicago
  4. South Street Expands Acquisition Scope – South Street Capital, a Chicago based, privately controlled real estate investment firm, has decided to expand the scope of its acquisition strategy into several Midwest states and core areas on the West Coast… Globe St.
  5. The $5 billion question: Will WeWork survive the next downturn? – In November, news broke that the shared-office provider WeWork raised $150 million in February 2014 from a number of high-profile investors, including Boston Properties’ Mort Zuckerman. The deal valued WeWork at $1.5 billion and catapulted it into the limelight. It was suddenly a “unicorn,” Silicon Valley-speak for a company that races to a $1 billion-plus valuation based on fundraising… The Real Deal