Industrial N Illinois Job growth, logistics demand push industrial sector The surge from e-commerce is more than enough to bolster the industrial real estate sector. But a boost in employment among manufacturing, transportation and related fields is also helping to propel the historic run that this asset class is on.
Office N Illinois West Loop office towers add amenity space, 125,000 SF of new leasing Monroe Plaza, the twin office towers at 200 and 230 W. Monroe Street in Chicago’s West Loop, added over 125,000 square feet of new leasing in the past six months. The property, which is owned by Hallandale Beach, Florida-based Accesso, also introduced Loft 18, a half-floor tenant lounge and conference center in the western tower.
Finance V Michigan Cohen Financial closes $11 million loan for 160-unit apartment community Cathy Bronkema, managing director in the Grand Rapids, Michigan, office of Cohen Financial arranged an $11 million short-term bank loan with SunTrust for the acquisition of Cottonwood Forest Apartments in Jenison, Michigan, a suburb of Grand Rapids.
Office V Michigan Downtown Detroit's office surge continues The resurgence of Detroit’s office market continued in the second quarter of this year, with Newmark Knight Frank reporting that office vacancies in the market fell 30 basis points to 15 percent.
Industrial N Illinois CenterPoint names Podolsky Circle exclusive leasing agent for 1 MSF industrial facility Podolsky Circle CORFAC International has been appointed as the exclusive leasing agent for the 992,462-square-foot industrial facility located at 900 Knell Road in Montgomery, Illinois. Podolsky Circle principal Adam Tarantur, CCIM, principal Steven Tick, SIOR and associate Austin Vanderstappen will lead the brokerage team on behalf of the …
Industrial N Illinois Brennan Investment Group taps Comcast to bring fiber into Elk Grove Technology Park Brennan Investment Group, the industrial developer behind the $1 billion Elk Grove Technology Park, has partnered with Comcast Business to bring its advanced fiber network to the technological innovation and business development hub now under construction in Chicago’s northwest suburbs near O’Hare International Airport.
Net Lease X Missouri Stan Johnson Company closes $14 million industrial sale near St. Louis Stan Johnson Company completed the $14 million sale of Cassens Business Center, a multi-tenant industrial property in Fenton, Missouri, a suburb of St. Louis.
Office N Illinois Construction begins on new Fulton Market office building, Fulton East Construction has started on Fulton East, a 12-story, 90,000-square-foot office and retail building at 215 N. Peoria Street, in the heart of Chicago’s Fulton Market District. Developed by Peoria Green Owner LLC, a venture of veteran Chicago-based real estate developers Bob Wislow and Camille Julmy, the project should wrap up by spring 2020.
Retail N Illinois The bank backfill: Sourcing retail tenants for vacant branches This week, 44 bank branches throughout Chicagoland will shut down as a redundancy mitigation measure following Fifth Third Bank’s acquisition of MB Financial in March. Property owners will want to get a new tenant lined up as soon as possible, but there’s one issue: the only fitting tenants for these spaces are other banks.
Multifamily N Illinois Triton facilitates four multifamily transactions in Chicago's western suburbs Edward Liss, senior vice president of Triton Realty Group, recently sold four apartment buildings within the Aurora, Elgin and Carpentersville, Illinois markets.
Retail N Illinois NAI Hiffman to manage all Old Second Bank branches in Chicago area NAI Hiffman has been awarded the management of twenty-eight Old Second Bank branches spanning 18 suburbs and the city of Chicago.
Office N Illinois Redefining the suburban office Downtown Chicago has benefitted from a steady stream of corporate relocations in the recent past. Many of these companies didn’t have far to move as they were already in the suburbs. So how is the suburban office market coping with all of these emigrations?
Industrial N Illinois Brown Commercial Group brokers sale, two leases in Western Suburbs Brown Commercial Group represented three end users in one sale and two leases totaling 26,734 square feet in Chicago’s western suburbs. Each company was expanding its space to accommodate growth.
Industrial N Illinois Cushman & Wakefield reps landlord in large Edens Corridor industrial lease Cushman & Wakefield represented the landlord, New Lincoln LLC, in the long-term lease of 202,259 square feet of an industrial building at 7080 N. McCormick Boulevard, in the near north suburb of Lincolnwood, Illinois. The tenant is CubeWork, an office and warehousing co-working company.
Office N Illinois Chicago's downtown office market outpaces the 'burbs The Chicago metro area added 63,000 jobs between February 2018 and 2019, according to the U.S. Bureau of Labor Statistics—a 1.4 percent increase. As many of these are high-wage jobs, this employment growth is adding fuel to the fiery downtown office market.
Industrial N Illinois SEDCO Capital purchases FedEx distribution center in Niles SEDCO Capital, a Saudi Arabian Asset Manager, has purchased a FedEx Ground-leased distribution facility in Niles, Illinois, a northern suburb of Chicago. The property was purchased via a separate account managed by ElmTree Funds, LLC, a real estate private equity firm based in St. Louis.
Multifamily N Illinois Chicago's condo and rental markets: A mid-year check-up As the Chicago area continues to create high-paying white-collar jobs, the demand for housing has kept up. How has the multifamily sector performed during the first half of 2019, and does the outlook for the rest of the year suggest that developers and brokers will be busy?
CRE N Illinois Brown Commercial Group brokers four transaction in Chicago suburbs Brown Commercial Group brokered two leases and two sales totaling 19,220 square feet in Chicago’s western suburbs.
CRE N Illinois Q&A: Dan McCaffery Dan McCaffery has had a celebrated career in real estate spanning thirty years. He currently serves as CEO of McCaffery Interests, the firm he founded in 1990 that is behind a number of projects in Chicago and around the country.
Multifamily i Ohio Colliers' Cooper: It might not be booming, but Cleveland apartment market strong Three years ago, apartment renters would flock to any new apartment building rising in Cleveland, filling the units as soon as the multifamily development opened its doors. Today? It might take more time for these buildings to fill. But Gary Cooper, senior vice president and principal with the Cleveland office of Colliers International, sai…