|It's too cold around New Year's to take stock of one's life. We prefer early fall, which is why Bisnow’s 4th Annual Chicago State of the Market is on Oct. 4 at the Palmer House Hilton. One of our panelists, HSA Commercial Real Estate CEO Bob Smietana, says it's a classic case of good news, bad news for Chicago CRE.
| The fairly good news is that overall, financial metrics appear much better than a few years ago. Debt and equity are still readily available for qualified sponsors with strong projects. Interest rates are at historic lows, and all indications are that they will remain low.
| However, Bob continues, “leasing activity among the tenants that drive our business is still lagging, much of which likely reflects the challenges facing the larger economy.” He is, however, cautiously optimistic that there will be improvement in leasing in the coming months. If not, HSA still sees opportunity, such as in healthcare. HSA PrimeCare recently completed development of a 20k SF cancer
treatment center for Franciscan St. Anthony Health on the hospital’s
outpatient campus in Michigan City, Ind. For expert banter and
top-notch networking, grab a ticket for our event.