News
BIG TEN PREDICTS SMALL RECOVERY
May 12, 2011
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| A recovery may be underway, but it's a net-zero recovery as tenants and owners are just playing musical chairs with existing buildings, says HSA Commercial's Bob Smietana, here with Trammell Crow's Shaun Frankfurt and Equity Residential's Kathleen Buchler Austin at the Big Ten Real Estate Forum last night. While Bob is about to sell a portfolio of industrial buildings, he says the impact on the overall economy is minimal—the buildings will stay at about the same rent and occupancy. Shaun says he has a different perspective as a developer. He's ready to build as soon as the tenants and capital are ready. | |
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| We also snapped The John Buck Co's Susan Hammersley, Heitman's Mary Ludgin, and The Peregrine Group's Ward Feste in the Oak Room. That smile on Mary's face is from Heitman's recent purchase of a $138M industrial portfolio from Northern Builders. She says the seven Chicago-area buildings complemented an existing portfolio and were bought with a co-mingled fund, which could acquire more buildings in the near future. Susan's working on development and acquisitions for Buck in Oak Brook. She and Ward go way back—Ward helped her find her job at Buck in the mid-90's. |
