Once again, CBRE has been named the largest commercial real estate firm in terms of deal volume in the Chicago area, according to Crain’s Chicago Business.
CBRE was n the leader in total leasing and sales and completed 9 of the 20 largest individual lease deals (10 Chicago and 10 suburban deals were cited) for the 12-month period between July 1, 2015 and June 30, 2016, more than any other firm.
In the downtown category, CBRE brokered three of the top five leases on the tenant side, and in the suburban category, CBRE was responsible for the two largest deals.
You can see the rankings and the top deals here: http://www.chicagobusiness.com/article/20161015/ISSUE01/161019858/crains-publishes-commercial-real-estate-list-package
For years now, Chicago’s West Loop, particularly the Fulton Market area, has been known as one of the city’s top upscale dining destinations. Now, with a recent influx of office users, residential developments and hotels, QSR’s (quick service restaurants) are targeting the market for expansion opportunities.
Restaurant Row on West Randolph Street has drawn many of the city’s top chefs and is home to arguably one of the highest-concentrations of eclectic dining in Chicago. This area continues to have many the hardest-to-come-by reservations in Chicago and shows no signs of slowing down, according to Sharon Kahan, first vice president with CBRE. Continue reading
Asian investment in global commercial real estate is on track to reach a new record in 2016, with the Americas the leading target region and Chicago among the top five city targets, according to new research from global property advisor CBRE Group, Inc.
Asian investment in global commercial real estate reached nearly US$27 billion in H1 2016, dominated by Chinese investors who accounted for 60% of the total. Asian outbound investment has multiplied more than ten-fold to $47 billion in 2015 from $4.3 billion in 2009. Approximately 80% of Asian investors’ capital outlay in 2009 was in domestic markets; this proportion has steadily declined in subsequent years, falling to 47% in 2015. Continue reading
Demand for quality retail investment properties remains high across multiple product types — core product, single-net lease buildings, and, especially value- add plays — yet buyers are finding a dearth of deals available, as owners are reluctant to part with strong properties in high-performing markets.
“Last year, deal activity was robust, but this year there is less product available,” said Derrick Almassy, first vice president with CBRE’s National Retail Investment Group. “Financing is strong and there is a lot of capital, but buyers are finding it difficult to locate opportunities.” Continue reading
NAIOP recently announced its 2016 Chicago Awards for Excellence finalists. We are proud to note that CBRE was named as a finalist 10 times.
Live voting will take place at the awards program on Thursday, November 17th at Navy Pier.
CBRE’s list of finalists:
Downtown Office Broker Transaction of the Year
Echo Global Logistics at 600 W. Chicago Avenue
—Todd Lippman, Brad Serot and Paul Reaumond
McDonald’s at 1045 W. Randolph
—Todd Lippman, Jim Whalen, David Tropp
Navigant at 150 N. Riverside
—Drew Nieman and Christy Domin
Suburban Office Broker Transaction of the Year
Paylocity at 1400 American Lane, Schaumburg
—Todd Lippman, Jim Whalen, Paul Diedrich and Jarrett Annenberg
Horizon Pharma at Landmark of Lake Forest II, 150 S. Saunders Road, Lake Forest
—Kyle Kamin, Dan Lyne and James Otto
Industrial Broker Transaction of the Year
Mars/Wrigley at 4005 Cedar Creek Drive, Joliet
—Traci Buckingham Payette and Michael Mullady
Chavez Properties at Midway Business Center, 555 S. Archer Avenue, Chicago
—Martin Stern and Andrew Norman
Office Investment Broker Transaction of the Year
One O’Hare Center at 6250 River Road, Rosemont
—Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Hundertmark
Industrial Investment Broker Transaction of the Year
Prime Industrial Portfolio, Franklin Park, Schaumburg, Melrose Park, Hillside & Berkley
—Mike Caprile, Ted Staszak and Stephanie Park
Property Management Firm of the Year
Robust leasing activity, low vacancy rates and a healthy balance of supply and demand has led to resilient capitalization rates in Chicago-area industrial product over the first half of 2016—according to the latest research from global property advisor CBRE Group, Inc.
Despite a slowdown in investment activity, cap rates for U.S. commercial real estate were stable across most asset types during H1 2016. Industrial properties, along with multifamily, held its pricing during this period as cap rates widened, albeit slightly, in other sectors. Continue reading