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Earlier this year, Newmark Grubb Knight Frank hired Geoffrey Kasselman as its new executive managing director in Chicago to lead the firm’s national industrial practice. Kasselman recently spoke to Chicago Industrial Properties about his outlook for the Chicago industrial real estate sector in 2014.
The winners of NAIOP Chicago’s Awards for Excellence were announced Tuesday at the Sheraton Chicago Hotel & Towers, Chicago. The awards recognize outstanding achievement in industrial and office real estate in the Chicago area.
Fourteen consecutive quarters of declining vacancies in the warehouse sector highlight the U.S. industrial real estate market’s momentum through the third quarter of 2013, according to Cushman & Wakefield.
Although recovery has been slow, the suburban Chicago office market managed to achieve its lowest vacancy level since first quarter 2009, according to a research report by Colliers International.
The winners of NAIOP Chicago’s Awards for Excellence were announced Nov. 15 at the Sheraton Chicago Hotel & Towers, Chicago. The awards recognize outstanding achievement in industrial and office real estate in the Chicago area.
Des Plaines, Ill.-based Peak Construction Corporation recently broke ground as general contractor on a new Hilton Garden Inn Hotel on Nordic Drive near Iowa Highway 58 and Ridgeway Avenue in Cedar Falls, Iowak for hotel owner Chris Bro III.
The local industrial economy is experiencing improvement, and the path to recovery is expected to continue. Once the market fully returns, the next several years should provide a healthy economic resurgence, particularly within the industrial sector.