CREO and COLBA already sound like Star Wars characters, so we found it natural that yesterday, they joined forces to gaze into the future, at the Federal Reserve Building. But first, we asked these gents about the present. CBRE's Chris Cassatta recently leased 21k-SF to Prudential Rubloff at 90 N. Michigan, while @properties'Larry Cohn recently moved from Cape Horn Group. He feels the move to the company's young commercial division was a good fit.
Keynote and Wharton prof Joe Gyourko observed that we haven't overbuilt office space as badly as we did in previous recessions, but we've also lost 7.5% of jobs, which will take two to four years to gain back. He says those jobs need to be less driven by consumption and more driven by investment and exports. Good news for offices, not so good for shopping malls.