Last night, Tishman Speyer's Victoria Noonan, right, had a chance to offer support of Tishman's TI policies. She says the company has leased 200k-SF of space this year, with tenants paying for TI and commissions. Tishman owns 12M-SF downtown, 6M of it from the EOP portfolio purchased in 2006, before most knew the market would decelerate so rapidly. Victoria was joined by Appraisal Research Counselors' Gail Lissner as the Chicago Association of Realtors teamed up with the Women's Council of Realtors and Roosevelt University to host its annual Successful Women in Commercial Real Estate at Maggiano's. Offering her market perspective, Gail says an average of 14 auctions per year has slowed the glut of extra condos downtown.
|Millbrook Corporate Real Estate's Goldie Wolfe Miller says her company recently purchased 1M-SF of office in Lisle. Well-positioned real estate, with owners who have proven track records, is still doing well, she says. That's why Millbrook has been able to lease 95% of space it owns that was vacated by Takeda in Lincolnshire and Buffalo Grove. But the majority of new leases are from tenant moves and not employment growth, which will have to change before the office market fully returns, she adds.|