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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Tagged atlanta, cbre, chicago, commercial real estate, cre, dallas, data center, data centers, dcs, new york, technology, todd bateman
The retail market posted another strong year in 2016. According to CBRE research, the U.S. has experienced 12 consecutive quarters of positive year-over-year rent growth. Net asking rents averaged $16.59 per sf. ft. nationally in Q4 – up 4 percent from Q4 2015 and 8.3 percent from the cycle low for $15.32 in Q4 2013.
Chicago is tracking rents higher than the national average at $18.54 per sq. ft., which is up from $18.36 the previous quarter. Continue reading
CBRE’s Project Management Group (PJM), in partnership with Clune Construction, recently completed the restoration of Union Station’s iconic Great Hall Staircase in Chicago.
After 90 years of foot traffic, the famous Travertine stairs had begun to realize “cupping” and other wear-and-tear. The project not only restored the Chicago Landmark space, but also implemented ADA code compliances to bring it up-to-date. Continue reading
CBRE’s Drew Nieman spoke recently at The Illinois Real Estate Journal’s 15th Annual Commercial Real Estate Forecast in Chicago.
Nieman addressed the crowd of 700 on the State of the Chicago Market panel. He specifically highlighted the strength of the Class A office market in the CBD.
According to Nieman, Class A+ space has a vacancy of 3.5 percent, which could trigger another new tower to launch in Chicago this year. Continue reading