Monthly Archives: April 2013

Walgreens HQ sale-leaseback offering reflects national trend

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The Jones Lang LaSalle Capital Markets team has been hired to pursue the sale-leaseback of the six-building, 575,000-SF Walgreen Co. headquarters complex in north suburban Deerfield, part of a larger national trend toward single-tenant net-lease transactions.

According to Jones Lang LaSalle Research, single-tenant net-lease transactions are expected to top $40 billion in 2013, up from… Read More

Hope on the horizon for the suburban office market?

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The time is right to move or renegotiate your company’s office lease inthe Chicago suburbs.

According to new Jones Lang LaSalle Research findings cited in this story by Crain’s Chicago Business, the vacancy rate in the suburbs fell to 24.4 percent in Q1 2013 thanks to more than 135,000 square feet of positive net absorption.

While… Read More

JLL upping its Retail game in Chicagoland

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Crain’s Chicago Business recently published an extensive report on the work the JLL Retail team is doing to expand its presence here in Chicago.

In the story, JLL Midwest Retail Director Mark Hunter details the group’s plans to double the size of its Chicago retail team and leasing/management portfolio over the next five years.

(The firm… Read More

What Willis Tower can learn from the John Hancock Center

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As was reported recently by Crain’s Chicago Business, the owners of Chicago’s John Hancock Center have boosted its overall value to $410 million by cutting the building into pieces (ie, office, retail, SkyDeck, etc.).

In the story,JLL office investment sales expert Bruce Miller tells Crain’s that the owners of Willis Tower have something to learn… Read More

Steve Smith: Economics improving for Chicago landlords

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Steve Smith, head of the JLL Landlord Leasing group in downtown Chicago, recently penned this commentary piece for the national commercial real estate magazine Real Estate Forum.

In it, Steve discusses how the combination of increasing demand and no new costruction (a new office tower won’t open here until 2016 at the soonest) portends a decrease in vacancy rates and continued upward pressure on… Read More

2013 Chicago Skyline Report takes a peek inside Chicago’s top office buildings

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The 2013 edition of Jones Lang LaSalle’s annual Chicago Skyline Review is hot off the presses, and the results are already catching the eye of the Chicago business media.

The report — which analyzes the stacking plans of the CBD’s 54 most important office buildings and gives a snapshot of the overall leasing… Read More

The Wall Street Journal profiles JLL Americas CEO Lauralee Martin

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New JLL Americas CEO Lauralee Martin (left) recently sat down with The Wall Street Journal to discuss the global condition of the commercial real estate industry and JLL’s position as a worldwide leader within the industry.
Lauralee also shared her views on key markets and businesses for investments, securing opportunities that drive value for the firm and its clients, and her thoughts on women attempting… Read More
Categories: Jones Lang LaSalle.

Chicago Sun-Times profiles JLL CEO Colin Dyer

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JLL CEO Colin Dyer was recently the subject of a cover story (see left) in Grid, the new Chicago Sun-Times Sunday business section.

In his interview with reporter Matt Present, Colin discusses Chicago’s emergence as a global city, changing office environment, and sustainability, among other topics.

Click here to read the entire interview.

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Two new data centers under development in downtown Chicago

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According to a variety of published reports, two new data centers are now under development south of the Loop in downtown Chicago.

California-based Equinix Inc. is planning to  invest roughly $350 million in a new data center at 111 E. Cermak Road while Chicago-based Sterling Bay Cos. is partnering with with St.  Louis-based Ascent Corp. to build a $200 million facility at 717-727  S. Desplaines… Read More

Categories: Jones Lang LaSalle.

VIDEO: JLL’s Dan Ryan and Chris Kennedy discuss Chicago commercial real estate trends

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Earlier this year, JLL Central Region Market Director Dan Ryan served as emcee for the 11th Annual Illinois Real Estate Journal Commercial Real Estate Forecast Conference here in Chicago. Among his duties was moderating a one-on-one discussion with Chris Kennedy, scion of the Kennedy family and longtime former head of the the Merchandise Mart.

Video highlights from the event were recently made available. The video above is from the portion of the… Read More