The rapid growth of e-commerce fulfillment networks in recent years has resulted in a steady increase in the height and volume of warehouses and distribution centers, likely necessitating a shift to three-dimensional measurement of industrial space, according to a new research report from CBRE Group, Inc.
Chicago added 1,419,581,500 cubic feet and 43,346,000 square feet of warehouse inventory from 2010-2016, making it the fourth largest market in the country in terms of new warehouse construction activity in that time period.
CBRE’s Workplace360 office in Oak Brook is only a few months away from completion. This will transform how our firm does business in the suburbs. Check out the progress.
With a slew of new office projects in development and dozens in the planning stage, Chicago’s office market is evolving.
The Hispanic & Latin Business Resource Group (HLBRG) and the African American Network Group (AANG) hosted the first “L’HAANG Spring Mixer” at CBRE’s downtown Chicago office last week. A collaborative effort of the Chicago chapters of CBRE’s HLBRG and AANG internal network groups, the acronym ‘L’HAANG’ conveniently merges the two names to form the Latin and Hispanic, African American Network Group.
The Big Brothers Big Sisters (BBBSMC) of Metropolitan Chicago officially kicked-off their CBRE corporate partnership with a Ribbon Cutting Ceremony at the CBRE downtown Chicago office.
CBRE’s Rachel Gradner and Dan Persa are members of the BBBSMC Leadership Board and Bigs to two Littles in the program.
“I was involved in the program with my former employer and when I started here I thought it would be awesome to bring this type of program to our workplace,” said Gradner, associate with CBRE and member of the CBRE Chicago Region Philanthropy Committee. Continue reading
Chicago has become more popular with investors, moving up from the eleventh most popular U.S. market in 2016 to number nine in 2017, according to the CBRE Americas Investor Intentions Survey 2017.
“Chicago continues to be a dynamic performer on the national stage,” said Brian McAuliffe, President, Institutional Properties, Capital Markets, CBRE. “There has been a lot of exciting office activity in the CBD and surrounding neighborhoods with several corporate relocations, and, Chicago continues to be one of the top industrial markets in the country. Investors are very comfortable with the local momentum right now.”
The 2017 survey results reveal that investors will remain actively engaged in real estate investment this year, with the majority (67%) intending to be net buyers (more acquisitions than dispositions). The percentage of net buyers has increased since 2015 (60%) and 2016 (65%). The vast majority of these investors (83%) intend to maintain or increase their purchasing activity in 2017.
Chicago has become a top three market in the U.S. for data center absorption thanks to its central location and its prominence as a critical hub network, according to a new report from CBRE Group, Inc.
Net absorption totaled 36.2 megawatts (MW) in 2016, representing a near record-high for the market and outpacing the previous year’s absorption of 28 MW. The two markets ahead of Chicago are Northern Virginia (84.4 MW) and Dallas/Ft. Worth (37.6 MW). Continue reading
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