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Chicago Commercial Real Estate – In the News

Tom’s Recommended Reading for the Week

  1. Avison Young acquires Chicago’s Mesa Development – A Chicago developer that built two condo towers at Millennium Park has been acquired by a Canadian firm. Toronto-based Avison Young announced the deal this morning for Mesa Development, founded in 2000 by Richard Hanson. He and James Hanson have joined Avison Young’s downtown office as principals... Crain’s Chicago
  2. Chicago beats even Silicon Valley in tech-job growth – Chicago was one of the fastest-growing cities for tech jobs coming out of the recession. The number of tech jobs in the city rose 25.8 percent between 2010 and 2013, according to a report on the nation’s top tech markets by commercial real estate firm CBRE… Crain’s Chicago
  3. CMBS lending to Chicago-area landlords drops after strong 2014 – After showering local landlords with $2.5 billion in debt last year, Wall Street lenders are off to a slow start here in 2015. Lenders that package real estate loans into commercial mortgage-backed securities (CMBS) originated and sold off $2.5 billion in loans on Chicago-area properties in 2015… Crain’s Chicago
  4. Cushman & Wakefield buying McKinney brokerage – J.F. McKinney & Associates, a Chicago real estate brokerage that handles leasing at office buildings including the John Hancock Center and the Merchandise Mart, is being acquired by industry behemoth Cushman & Wakefield. The deal is expected to be completed by April 30, according to New York-based Cushman & Wakefield. Terms of the deal were not disclosed… Crain’s Chicago
  5. Investors Turn to Big Real Estate Funds – Investors are pouring more money into real-estate funds than they have since the property bust, but a few giant fund firms are collecting the lion’s share of the spoils. Pension funds, endowments and other big institutional investors are putting more cash into private-equity firms with large real-estate funds and strong track records, leaving smaller firms to fight over the scraps… Wall Street Journal