According to a recent CBRE report, Chicago ranks as the seventh largest real estate investment market in the world, with a value of $300 billion.
Tokyo, New York and Los Angeles are the world’s largest commercial real estate investment markets, with the global stock of investable assets standing at $27.5 trillion.
Chicago is the fourth largest market in the U.S., behind New York, Los Angeles and San Francisco.
“Chicago continues to be an attractive opportunity for local, national and international investors, due to its diverse economy, strong growth prospects, highly educated workforce and collection of trophy assets,” said Blake Johnson, executive vice president of CBRE. “The market draws top talent from a very healthy university system, including such institutions as Northwestern University and the University of Chicago, and has added 48,000 new office-using jobs since 2011. This has resulted in an extremely active and growing market, which supports one of the most diversified economies in the country.”
Spencer Levy, Americas head of research for CBRE, discusses why Chicago remains a go-to city for real estate investors. Watch the video here.
CBRE recently opened its new Workplace360 office in Oak Brook. This video, a first in a three-part series, highlights the journey of how we consolidated multiple offices into a more efficient and cutting-edge space.
NAIOP recently announced its 2017 Chicago Awards for Excellence finalists. We are proud to note that CBRE was named as a finalist seven times.
Live voting will take place at the awards program on Thursday, November 16th.
CBRE’s list of Finalists:
Pendleton appeared on the headline panel, addressing the main trends and issues in property management today.
Joined by other area market leaders, Pendleton discussed how the amenity arms race in the office market remains prevalent in buildings downtown and the suburbs, but, despite the proliferation of new offerings for tenants, the need for quality property managers still remains high.