| Let's hope Christmas in July comes early this year: first-quarter Chicago retail stats are mixed , with the slight increase in job growth contributing to a slow recovery for single-tenant and urban marketplaces, according to a Marcus & Millichap report. It predicts that vacancy will moderate this year, staying high in the south and southwest suburbs. | ||
| Vacancy rates in the city inched down by 20 basis points to 6.6%, but are expected to lose 20 basis points by year-end. Asking rents increased to $23.24/SF, but are also expected to decline to $23.01 over the same period. In the 'burbs, vacancy is up 130 basis points from a year ago, to 11.8% and may rise as high as 12.2%. Asking rents declined to $18.20/SF and are expected to fall to $17.91. | ||
*** Lincoln Investment Planning signed a 6k SF lease at 500 Waters Edge in Lombard. Cawley Chicago Commercial Real Estate's Cody Sundberg and Rawly Lantz repped landlord KBS Realty Advisors. *** RehabTECH has signed a long-term lease for a 30k SF building at 335 Eisenhower Lane South in Lombard. Cushman & Wakefield's Sean Henrick repped the owner, TA Associates Realty. Lee & Associates' Jeffrey Janda repped the tenant. *** Grubb & Ellis Co.'s Matt Mulvihill, Tom Tunnicliff, and Sam Durkin represented Door Systems, a division of KONE, in the long-term lease renewal of 63k SF at 751 Expressway Dr. in Itasca. Companies *** Chicago real estate broker @properties celebrated its 10th anniversary this week. Co-founders Michael Golden and Thaddeus Wong started @properties in 2000 after a multi-year run as the top-producing agents among the Chicago Association of Realtors' 15k members. Today, the firm has more than 900 licensed agents, 60 employees and seven Chicago-area offices. Over the past decade the firm has brokered more than 4,400 real estate transactions totaling approximately $1.8 billion ***
People *** Bradford Allen Realty Services/TCN Worldwide co-founder Laurence Elbaum has been elected chairman of the TCN Worldwide Board of Directors for 2010-2011. He co-founded Bradford Allen Realty Services with Jeffrey Bernstein in October 2003. Sales |
Related Topics:
500 Waters Edge
, Bradford Allen Realty Services
, Burr Ridge
, Cawley Chicago Commercial Real Estate
, Chicago Association
, Cody Sundberg
, Dan Bick
, East Dundee
, Eisenhower Lane South
, Ellis Co
, Eric Spiess
, Featherstone Consulting
, Jeffrey Bernstein
, Jeffrey Janda
, Joseph Pomerenke
, Laundry King
, Laurence Elbaum
, Matt Mulvihill
, Michael Golden
, NC Platinum
, Paul Montes
, Podolsky Northstar
, Rawly Lantz
, Sam Durkin
, Sean Henrick
, TA Associates Realty
, TCN Worldwide
, Thaddeus Wong
, Tom Tunnicliff
, Trend Carpet
, Water's Edge
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