Tech, suburban migration fuel Chicago CBD office growth
The downtown office market saw measured growth in the first quarter of 2015, with vacancy down to 12.7 percent and rent up 4.7 percent. But those numbers alone don’t tell the full story.
“The tech boom and suburban migration are not new phenomena, but both classes of tenants continue to drive leasing momentum,” said JLL Senior Vice President Nooshin Felsenthal. “It all comes back to job growth and companies’ desire to attract top-tier talent.”
Here are seven secrets behind downtown’s rising office market and its potential for landlord leverage:… Read More
0 Comments
Categories: Brokerage, Capital Markets, Downtown, Jones Lang LaSalle, Office Leasing, Tech and tagged 150 N Riverside, 1K Fulton, CBD, Central Loop, consumer confidence, downtown office, Federal Reserve, Fulton Market, Google, JLL, jobs, Mead Johnson, Merchandise Mart, Motorola, Nooshin Felsenthal, River North, Sara Lee, SRAM, suburban migration, tech, Vornado, West Loop.