Investors Want "B"
MB Real Estate president John T. Murphy says watch for acquisitions in the Central and West Loop. Recently, institutional money has an appetite for Class B office buildings. Hear more from John and a great lineup at Bisnow’s 4th Annual State of the Markets, Palmer House Hilton. Register here!
|John says he’s looking for well-located office buildings with “high-quality vacancy,” meaning that they can be easily upgraded, and he expects to see several attractive properties come to market soon. His leasing team has been very busy, with deals like the 110k SF of new leases at 500 W Madison for AIG and Navteq. Still, a note of caution was sounded thanks to Eurozone troubles and the decrease in tenants’ space needs for each employee and for servers.|