Monthly Archives: January 2012

Panama Canal project poised to impact U.S. industrial real estate

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The week’s edition of The Economist takes a look at the ongoing Panama Canal expansion project and its effect on the movement of goods imported to the U.S. from Asia.

In short, the canal’s expansion will allow even the largest of modern-day freight ships coming from Asia to pass through the canal, enabling them to dock in a variety of East Coast ports instead of the Ports… Read More

Chicago’s ‘global city’ status confirmed by new JLL report

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Chicago saw more than $7 billion of direct commercial real estate investment in 2010 and 2011, the 14th-most of any city in the world according to a new Jones Lang LaSalle report, “A New World of Cities: Redefining the Real Estate Investment Map.”

As recently as 8 years ago, Chicago ranked as high as No. 7 on the list, but has recently been… Read More

Categories: Jones Lang LaSalle.

Retailers looking opportunistically at Chicago

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Are national retailers bullish on the Chicago market?  Recent anecdotal evidence would seem to suggest it.

Over the past few months, brands including Target, Buy Buy Baby, Lululemon, Athleta, Topshop (pictured above), AllSaints and Timberland have all announced plans to open new stores in tony urban areas like Old Town, West Lakeview and North Michigan Avenue.

At the… Read More

Large users driving (modest) leasing momentum in North Suburbs

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Combined Centre

 

For a variety of reasons, the north suburban office submarket has been one of the Chicago’s area’s biggest laggards since the ’08 market crash.

But thanks in part to a series of deals toward the end of last year, the area is showing signs of positive momentum with the overall vacancy rate having dropped from… Read More

Follow JLL Americas CEO Peter Roberts at the World Economic Forum

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JLL Americas CEO Peter Roberts (left) is one of the more than 2,500 global governemnt and business leaders attending this week’s World Economic Forum annual meeting in Davos, Switzerland.

You can check out his blog here and can also follow him on Twitter @Peter_Roberts1.

The New York Times is also covering the proceedings here.

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Blackstone raising $10 billion for new distressed real estate fund

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Bloomberg News is reporting that the New York-based asset management firm Blackstone Group has already raised $6 billion for a new $10 billion real estate fund that will focus on distressed assets.

JLL’s Jim Postweiler (left), a Managing Director of the firm’s Office Investment Sales Group, says he anticipates that Blackstone will likely consider a variety of opportunities in… Read More

LIVE BLOG: IREJ Forecast Conference “State of the Market” panel

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JLL’s Len Caldeira is moderating a panel discussion of local CRE industry leaders: Tom D’Arcy from Hines, Steve Schnur from Duke Realty, Don Schoenheider from Liberty Property Trust and two local brokers.

9:15 a.m. – D’Arcy on the CRE lending climate looking forward: “It’s a three-legged stool: you need tenants, you need 50 percent equity and… Read More

Investors showing appetite for downtown Chicago offices

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We’re not at pre-recession levels just yet, but 2011 was “a strong year” for office investment sales in downtown Chicago and the momentum stands to continue in 2012, JLL’s Bruce Miller tells Crain’s Chicago Business.

A total of 15 downtown buildings traded hands last year, (including 55 W. Monroe, at left, which Bruce… Read More

Overheard: Industrial spec development on the horizon?

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Keith Stauber, Regional Managing Director of Jones Lang LaSalle’s Midwest Industrial Services group, on the potential for industrial big-box spec development in the Chicago area 2012:

“Big box spaces here are very few and far between these days; there’s really only a handful of vacant spaces left. We’re definitely looking at the potential

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We’re liveblogging the IREJ Forecast Conference

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JLL Chicago is proud to sponsor Tuesday’s 10th Annual Commercial Real Estate Forecast Conference hosted by the Illinois Real Estate Journal.  Headliners this year include Sam Zell, Ventas Inc.’s Deb Cafaro and JLL’s own Len Caldeira and Lyle Patterson.

We’ll be live-blogging all the action beginning at 8:30 a.m. Tuesday, so check back here throughout the morning for real-time updates as some… Read More

Still a tenant’s market in the ‘burbs

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With vacancy rates having fallen during five of the past six quarters, office leasing momentum is building (slowly) in the suburbs. But tenants still have the upper hand — and will for some time — JLL’s Eric Kunkel tells Crain’s Chicago Business:

“Landlords are realizing they’ve got to keep these guys. It’s too hard to find new tenants, and it’s expensive and

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