Tag Archives: Discover

Ten with Ben 019: Meet Rob Healy

Published April 21, 2023

In our latest Ten with Ben, we sit down with longtime property manager Rob Healy, Vice President and General Manager at CIM Group, L.P. to discuss the vital role of property management and why they’re too often an unsung hero in getting deals done. As a former property manager at the BMO Harris Bank building, Rob also shares his thoughts on the planned revitalization of LaSalle Street and the challenges of redeveloping its infrastructure for multifamily. Catch the full show to learn more about Rob and hear his take on current trends and market conditions:

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Ten With Ben 017: Meet Eric Janssen

Published December 1, 2022

This week on Ten with Ben, we meet with Eric Janssen, president and founder of Chicago Real Estate Resources (CRER), a full-service commercial real estate firm with a focus on investment, retail, and office leasing and a fellow Chicago affiliate of TCN. Eric is an award-winning and well-traveled real estate professional with a multitude of diverse experiences under his belt and has been working in the Chicago market for over three decades. Expertly weathering the challenges in today’s market, Eric’s optimism encourages his brokers to adapt to the changes and persevere, noting “it always comes back.”

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CRE Office Pulse 007: Chicago Remains a Top Prospect

Published November 21, 2022

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.

Read on to find out more

Client Success Story: Lindsay, Pickett & Postel, LLC

Published September 29, 2022

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.

Industrial Real Estate & The Economy

Published September 3, 2022

Is the United States economy in a recession? What do the macroeconomic and industrial real estate market trends signal to us about evolving business conditions?

To understand the current state of the business cycle and the implications for industrial real estate, Bradford Allen’s Ronan Remandabran, Executive Managing Director and Industrial Market Leader, sat down with Neil Bouhan, BA’s Senior Managing Director of Research & Communications. Together they survey the sentiment and real estate supply dynamics in the logistics, warehousing, and manufacturing sectors. From capacity utilization and rental rates to tightening lending conditions and path for retail sales, Ronan and Neil ask—and answer—one of the most debated questions facing industrial real estate professionals today: Are we in a recession?

Ten with Ben 016: “Meet Ross Ford”

Published August 25, 2022

On Ten With Ben, we regularly speak with experts in their respective fields, but rarely has a guest come with such an immense amount of market knowledge. Ross Ford is a fourth-generation commercial real estate professional. And with nearly a quarter-century at the helm of TCN Worldwide, a consortium of independent commercial real estate firms, Ross has seen the ups and downs of several market cycles across every real estate segment. One lesson that holds true across time is that real estate is a “business of the moment.”

And in this particular moment–full of uncertainty and disruption and opportunity—the value of a professional broker/agent has never higher. We were excited to sit down with Ross and get his perspectives on the state of current market. We always learn something new and valuable speaking with Ross, and we know you will too.

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

Published July 28, 2022

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

On Material Handling Systems

Published April 24, 2022

Industrial real estate is a hot topic right now, but something people often overlook is the material handling systems to outfit their warehouse space. Over the last two years, supply and demand has effected most industries around us, and material handling systems are no exception. Matt Kapfhammer, Business Development Leader at Koppco Material Handling, is here to give his take on how to plan your warehouse space, when to start, and what type of gaps users may not be aware of when entering a new warehouse space as they grow and expand their business.

As Matt explains, the transition between material handling systems planning and the search for industrial real estate is not seamless. Often times, tenants will think of their material handling systems as a line item in their search for space when it should instead be a top priority. The industrial market is tight right now; five years ago, it was much easier to find space, but with fewer options today, you need to act quickly. Planning ahead for your racking needs will put you ahead of the game when four or five tenants fight for each space as it becomes available.

Timing is everything whether you are ordering new racking, buying used, or taking existing systems with you. Ordering new shelving can be costly and time consuming. With the price of steel soaring (up to $135/pallet now versus pre-pandemic costs around $60/pallet) and turnaround times taking anywhere from 12 to 30 weeks, tenants should contact professionals as soon as possible to begin the process. As Matt notes, some tenants will even order racking before their lease is signed or warehouse is built so they can hit the ground running. While there is risk in this, it usually makes the most sense.

The price per SF and building location are obviously key factors in any real estate search, but the end-product should be the goal. When developing a building, how you design the storage space, ceiling height, and column spacing in terms of machine navigation, employee requirements, and safety qualifications will make or break your relocation. Shelving is as important as the infrastructure of the building itself in the industrial real estate world.

Will there be a time when the material handling systems industry normalizes? Matt doesn’t think it will return to pre-pandemic lows anytime soon. Consumer needs drive the industrial market, and the online demand for goods will continue pushing the need for warehouse space and supplies.

Ten with Ben 015: “Meet Michelle Jones”

Published April 7, 2022

Today we are joined by Michelle Jones, Director of Interiors at Shive-Hattery. With over 20 years’ design experience, Michelle has always been driven by creating something new and bringing it to life — the office is an art form. With so many facets, there is always something to be learned throughout each project while staying on top of trends.

But in today’s ever-changing world, the biggest question seems to be, “how do we do the next project better?” Bringing an architect in from the beginning of your project is the best place to start. In order to create a true collaboration among office tenant and architect, timing is key. Even while touring space, Michelle suggests bringing your architect along to provide critical feedback and visionary tools to provide crucial elements in a thoughtful vision for your workplace.

It’s clear that the office is here to stay, so how do you build a space when you don’t know what the next five years will look like? Are there best practices for tenants to follow?

Michelle’s advice: start with asking how you’re going to use your space.

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Bradford Allen represents Avenir in 10,000-square-foot headquarters relocation

Published April 7, 2022

NEW YORK, NY — Glenn Isaacson, President at Bradford Allen’s New York office, is pleased to announce the firm has assisted Avenir Growth Capital in a headquarters relocation to 817 Broadway in Greenwich Village. Isaacson was assisted in representing the tenant by associate Anthony Builder, while landlords Tactonic Partners, Nuveen Real Estate, and Squire Investments were represented by David Faulk, Jason Greenstein, Daniel Levine, and Jordyn Comras of Newmark.

Avenir will relocate from their seventh-floor space at 135 Fifth Avenue to the twelfth floor of 817 Broadway in a new five-year lease. The New York-based equity firm was founded in 2017 to focus on building a portfolio of high-growth, category-defining companies. The firm currently has over $2 billion in assets under management.

Ten with Ben 014: “Industrial Real Estate w/Ronan Remandaban”

Published February 3, 2022

There are no two ways about it—the industrial real estate market is on fire. It’s been the leading sector for a couple of years, owing to the pandemic and supply chain disruptions. Logistics have shifted from just-in-time to just-in-case, driving demand for localized warehousing and manufacturing space. Vacancy rates are at all-time lows, cap rates have plunged to low single digits, rents and construction costs are growing at a record-setting pace.

To understand these rapid changes and see where the industrial market can go from here, TWB sat down with Ronan Remandaban, Executive Managing Director and Industrial Market Leader at Bradford Allen. Ronan is a tech-savvy professional whose career has been dedicated to the industrial segment. He’s seen every type of deal and development over the course his 20 years in the business.

The current environment is all about being adaptive, whether that’s repurposing property or moving fast on transactions. Join us as Ronan and Ben discuss how we got here and what’s next for the industrial sector of commercial real estate.

The State of the Construction Industry

Published January 28, 2022

Supply chain disruptions and soaring commodities prices amid unprecedented demand for industrial real estate have massive implications for the construction industry. Asset values and rents are soaring, but so are costs. How should owners, tenants, and developers adjust to this new normal?

To understand the current state of the construction industry, Bradford Allen’s Ronan Remandabran, Executive Managing Director and Industrial Market Leader, sat down with Patrick Clay, a “recovering architect” and Director of Business Development at ARCO/Murray, a leading design-build firm. From secular shifts in product delivery models to adaptive re-use trends and the outlook for rising interest rates, the conversation is as informative as it is wide-ranging.

Ten with Ben 013: “Meet Aaron Zaretsky”

Published December 17, 2021

Real estate is a relationship business, but it’s not often you get to work with a lifelong friend. In this Ten With Ben episode we’re joined by Aaron Zaretsky, Leasing Director at Urban Innovations, an integrated real estate development company. Aaron’s path crossed with Ben’s more than 40 years ago, decades before either had closed a lease deal.

As these long-time friends catch up on the state of the market, Ben and Aaron discuss the importance of nurturing long-term relationships with clients. People have good memories, so how you treat them matters, especially when it comes to big moments like leasing office space. It may be an everyday experience for a broker, but not for most business owners.

And the relationship-building doesn’t end when the lease is signed. Being present for all stages of your client’s growth and being a trusted, ever-present partner are the foundations for success in commercial real estate, and in business in general.

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CRE Office Pulse 005: Leaders & Laggards in the Pandemic

Published December 14, 2021

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

Reducing Industrial Real Estate Taxes

Published December 8, 2021

Chicagoland’s prominence as a logistics and industrial hub benefits residents, employees, landlords, and tax authorities alike. It brings jobs, goods, new commerce, and tax revenues to the metropolitan area. However, the real estate and infrastructure supporting these industries are spread over multiple counties and across tax jurisdictions. To level the property tax playing field, Cook County offers a tax incentive program. Class 6B allows eligible Cook County industrial properties to apply for a reduced assessment level—from 25% fair market value down to 10% fair market value—which is meant “to attract new industry, stimulate expansion and retention of existing industry, and increase employment opportunities.”

To make sense of this incentive program and learn how to apply it in today’s real estate environment, Bradford Allen’s Ronan Remandaban, Executive Managing Director and Industrial Market Leader, sat down with tax and zoning expert Fred Agustin, attorney at Maurides, Foley, Tabangay, Turner, & Agustin. Fred explains what 6B status is, how to qualify, and discusses with Ronan the merits and best practices of the program. Join us for a timely and practical discussion about minimizing your tax liability in Cook County.

Bradford Allen’s Ben Azulay Re-Elected to TCN Board of Directors

Published November 9, 2021

Chicago, IL — Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders of Bradford Allen, are pleased to announce the re-election of Ben Azulay, Principal at Bradford Allen, to the TCN Worldwide Board of Directors. Bradford Allen has been the Chicago office affiliate of TCN Worldwide since 2004, enabling comprehensive service to its clients locally, nationally, and internationally. In 2021, Bradford Allen became the New York affiliate with the opening of their downtown office at 745 5th Avenue, New York, NY. Ben’s involvement continues BA’s strong tradition of leadership within TCN as Laurence Elbaum served nine years on the Board of Directors, including four years as Chairman.

“We are thrilled that Ben was re-elected to the TCN Worldwide Board of Directors,” said Elbaum. “Ben has been an integral part of Bradford Allen for more than 17 years. In addition to his successful tenure as Regional Vice President for TCN’s Central Region, he has demonstrated his innate ability to lead with multiple TCN Team Player awards. I am proud to see him continue our firm’s tradition of leadership within TCN.”

Joining Bradford Allen in 2004, Ben has built a national client base by focusing on representing tenants whose operations are based in Chicagoland. Throughout his tenure with the firm, he has represented large users of office space in a wide variety of transactions that include GrubHub, Northwestern Mutual, and MedSpeed.

Ten with Ben 012: “Meet Tim Brigham”

Published October 29, 2021

In our latest episode, Ben sits down with Tim Brigham, all-star mortgage broker and BA client. With a competitive spirit and laser-sharp focus on his customer’s needs, Tim’s found a winning combination for success in real estate, and in life. In addition to managing Union Home Mortgage’s Chicago office, Tim runs the Superhero Collective, a non-profit that brings comic-book heroes to life for children’s hospitals all around Chicago.

Whether he’s swapping a business suit for a batsuit or locking-in fixed-rate financing for a new family’s first home, Tim’s authentic passion for people resonates with his customers and with us.

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Bradford Allen Expands Brokerage Services to New York City, Appoints Glenn Isaacson as Regional President

Published October 19, 2021

New York, NY — Bradford Allen, a full-service, national commercial real estate services firm headquartered in Chicago, announced its expansion with the opening of a New York office and the strategic hiring of industry veteran Glenn Isaacson as President of the New York office. The announcement was made by the firm’s principals and founders, Jeffrey A. Bernstein and Laurence B. Elbaum.

Bradford Allen was co-founded in 2003 to fill the void between large commercial real estate providers and small boutique firms. Headquartered in the heart of downtown Chicago, the entrepreneurial firm has grown into a best-in-class brokerage offering a full array of services, including tenant representation, landlord representation, consulting and advisory services, property and asset management and construction and project management. With three offices in Chicago, the company is now comprised of over 100 professionals providing strategy, marketing, and transaction execution for occupiers and owners of commercial real estate.

Bradford Allen New York represents a return to Manhattan for the firm’s founders who began their real estate careers as a team at Walter & Samuels in 1992 and then at the Edward S. Gordon Company and Insignia/ESG. Bernstein and Elbaum completed more than seven million square feet of transactions while teamed in New York, and together helped shape the office landscape of Midtown South.

“Our return to the New York City market gives us the opportunity to introduce the differentiated Bradford Allen platform to the world’s most dynamic, vital business hub,” said Mr. Bernstein. “In this era of consolidation and mega-firms, we fill a void for principal-driven service and attention, and a commitment to excellence in all we do.”

Mr. Elbaum said the opportunity dovetails with Bradford Allen’s ability to secure Glenn Isaacson as principal and president of the New York operation. “We have confidence in Glenn to build and lead this office, to create a professional and collegial environment where experienced, talented and inspired real estate service experts can work together to craft and execute transactions that serve their clients’ business goals.”

One of the most accomplished professionals in New York commercial real estate, Mr. Isaacson brings 40 years of leadership and experience to his new role. Mr. Isaacson has held some of the most senior and prestigious posts at New York’s top real estate services firms, culminating as Vice Chairman at Cushman & Wakefield prior to his appointment as President of Bradford Allen New York. Recognized as both a strong manager and seasoned brokerage professional, Mr. Isaacson has completed more than 20 million square feet of leasing transactions. His customers include a large number of prominent owners and agencies, as well as esteemed tenants such as
Boston Consulting Group, Northwell Health, Avenues Schools, China Merchants Bank and Seyfarth Shaw. In addition, he is recognized for his work on behalf of respected nonprofit organizations such as Carnegie Hall Corporation, UJA Federation of Jewish Philanthropies, American Kennel Club and the American Foundation for AIDS Research (on whose board he now sits).

As President of Bradford Allen New York, he will be responsible for managing all brokerage services and company operations in addition to leading transactions with landlords and tenants, directing new business development, and assembling a group of top professionals to strengthen the firm’s position in the regional marketplace.

The process of forming the Bradford Allen New York team is under way with the hiring of Tony Builder as an Associate Broker and Kim Woodruff-Walker as office manager. Mr. Isaacson said he and his partners are meeting with several seasoned professionals to build out a strong core team.

“I’m excited by the opportunity to build Bradford Allen New York and lead the office forward through exceptional client servicing and top-talent recruiting,” adds Mr. Isaacson. “Over the course of my career, I’ve learned first-hand what works and what doesn’t work in the brokerage industry. Bradford Allen’s platform and efficient process is compatible with my own approach to transacting business, with a value proposition that combines the expertise of a large brokerage alongside the nimble mobility of a privately held firm. It’s the ideal time for Bradford Allen to plant its flag in the dynamic New York City market and the commercial real estate environment in this region is ripe for our future growth.”

About Bradford Allen
Bradford Allen is a national commercial real estate firm based in the heart of downtown Chicago. The company offers a full array of brokerage services and expertise to entrepreneurial, corporate, and not-for-profit clients. Services include strategy, marketing, and transaction execution for occupiers, investors, and owners of commercial real estate. Bradford Allen is the brand name of Bradford Allen Realty Services.

Ten with Ben 011: “Welcoming Laurence Elbaum, Co-Founder of Bradford Allen”

Published September 15, 2021

With 30 years of experience in commercial real estate, today’s guest knows what the fundamentals of the business are all about. Meet Laurence Elbaum, Principal and Co-Founder of Bradford Allen.

When he began Bradford Allen with business partner Jeffrey Bernstein in 2003, he was certain of just one thing: BA would succeed, because failure was not an option. That mindset has translated into a philosophy that continues to drive the firm today. Listen in as Larry explains why technology will not replace the ground work involved in CRE, the importance of knowing the value of a dollar for your client, and how our investment strategy changed during the course of the pandemic.

As BA’s suburban portfolio grows, the comparisons to downtown become more prevalent. While Chicago’s Loop has not seen the same return to work as many suburban buildings, Larry speculates that new changes will come as Gen Z’s presence emerges within the work force.

Ten with Ben 007: “Forecasting 2021”

Published January 7, 2021

Ben is back, and like most of us, he’s ready to leave 2020 in the rearview mirror! Kick off the new year with Episode 007 of Ten with Ben.

We all hope 2021 will bring lots of excitement, but like Ben says, even after 20 years in the industry, “You just never know!” Listen as he discusses the differences between speculation and reality, why there is no doubt companies will come back to the office (eventually), and what “pent-up demand” means. Even after the COVID-19 vaccine is widely available, it won’t just be like flipping a switch getting back to our normal routines. Office schedules will still vary through at least the next 18 months.

The year will bring uncertainty, but more importantly, it will bring evaluation and opportunities to both landlords and tenants.

Bradford Allen hires Alex Gordon to expand Downtown Agency Leasing team

Published January 5, 2021

Chicago, IL – Andy DeMoss, Senior Managing Director, Downtown Agency Leasing at Bradford Allen, is thrilled to announce that Alex Gordon has joined the firm.

Gordon is the most recent addition to Bradford Allen’s Agency Leasing practice. Prior to joining Bradford Allen, Alex was an “in-house” leasing agent at Golub & Company, where he was responsible for the leasing of 300 S. Wacker, 444 N. Michigan, 111 W. Washington, 625 N. Michigan, and 680 N. Lakeshore. Previously, he was an assistant property manager with Tishman Speyer, where he worked on 525 W. Monroe and 190 S. LaSalle.

“I am very excited to join Bradford Allen, as they have a stellar reputation and significant presence in the Downtown Chicago market, and I’m equally as excited to work alongside Andy,” said Gordon.

“The addition of Alex rounds out the experience level on our team nicely. He will be working with me on our newest assignments, One North LaSalle and 180 North Wacker Drive,” added DeMoss.

VIDEO — BA InFocus 001: “On Cold Storage”

Published October 7, 2020

In our debut episode of In Focus, Rhea Stephen and Ronan Remandaban are joined by Amit Hasak, CEO of Transship, to talk cold storage. From refrigerators to shipping cargo containers, cold storage is an integral part of the food supply chain, especially with the global consumption of frozen foods. However, as our speakers discuss, there is a deficit in available cold storage space, both locally and nationally, and not all industrial or warehouse space can be converted to cold storage space. Listen as they talk pros and cons.

BA’s John Millner Named President, CCIM, IL Chapter for 2020

Published March 13, 2020

CHICAGO, IL – Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders of Bradford Allen, are excited to announce that John Millner, Managing Director with Bradford Allen’s Agency Leasing practice, has been named President of CCIM’s Illinois Chapter for the 2020 term. Millner has served on CCIM’s Board of Directors as an Executive Member since 2018.

“I’m excited to take on the challenges and responsibilities of this new role and honored to continue serving such an integral organization within the commercial real estate industry. CCIM’s mentorship, education services, and networking opportunities are invaluable resources to our community, and I look forward to growing our services and outreach in the coming year,” said Millner of his appointment.

Millner joined Bradford Allen in 2009 and has become a key member of the Oak Brook-based brokerage team in the years since. John specializes in medical office and traditional office agency leasing, representing approximately 2,000,000 square feet of product in suburban Chicago. Recently, John increased the occupancy of 4355 Weaver Parkway in Warrenville from 59.5% to 100%, completing 24,320 square feet of new leases in just nine months. In Hinsdale, John improved the occupancy of 908 & 911 North Elm Street by 21% through signing 53,000 square feet of new and renewal leases.

About CCIM
CCIM stands for Certified Commercial Investment Member. CCIM designees are recognized as leading experts in commercial investment real estate. Above all, the CCIM designation represents proven expertise in financial, market, and investment analysis, in addition to negotiation. CCIM designees are able to help their clients minimize risk, enhance credibility, make informed decisions, and close more deals. For more information, visit ccimilchapter.org.

Bradford Allen Promotes Dan Fernitz to Suburban Market Leader

Published February 25, 2020

CHICAGO, IL – Jeffrey A. Bernstein and Laurence B. Elbaum, Principals and Co-Founders of Bradford Allen, are pleased to announce that Executive Managing Director Dan Fernitz has been promoted to Suburban Market Leader. Fernitz, formerly with JLL, joined Bradford Allen in 2017 to lead the Agency Services practice, bringing over 30 years of experience in the commercial real estate industry to the firm. In his new role, Fernitz will manage Bradford Allen’s suburban brokerage offices, overseeing the realty services division for the firm’s growing Oak Brook-based brokerage team.

“Jeff and I could not be happier with Dan’s performance. Dan has proven to be a true leader, and we have the utmost confidence in him to build our overall suburban brokerage presence, as he has demonstrated in his ability to grow our Suburban Agency practice,” said Elbaum.

Prior to joining Bradford Allen, Fernitz managed the Suburban Chicago JLL leasing team for 13 years — and was directly responsible for growing their office leasing portfolio from 1.5 million to over 10 million square feet.

“I look forward to the continued growth of our Agency and Tenant Representation teams in the Chicago Suburbs. We are a collaborative group of professionals providing best-in-class services for our clients,” added Fernitz.