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July 28, 2020

This Week's Chicago Deal Sheet

Chicagoland’s position as a key distribution market served it well as the coronavirus spread throughout much of the U.S., allowing landlords to continue signing big leases. Bridge Development Partners, one of the region’s largest developers, secured more than 1.1M SF of leases in the market during the first half of 2020.

The leases for six tenants at five Bridge properties are all long-term and range between 42K SF and 576K SF. The tenants work in a variety of sectors, including e-commerce, international freight forwarding, global supply chain logistics, manufacturing and retail distribution.

This Week's Chicago Deal Sheet

“The arrival of the COVID-19 pandemic has altered the fabric of nearly every area of commercial real estate and thrown tremendous uncertainty into our economy and everyday lives,” Bridge CEO Steve Poulos said. “It has also accelerated a number of market dynamics that were already in motion, including consumers’ mounting…

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Landlords And Wellness Experts Mobilizing To Revamp Buildings, Standards

Millions of office workers were driven out of their workplaces this spring by the coronavirus, and many are still working from home. Even though that forced experiment has worked far better than almost anyone anticipated, sooner or later, corporate offices will reopen. And many landlords and tenants are getting ready to drastically increase their buildings’ ability to protect health.

Wellness experts are also preparing for this new world.

“We have been mobilizing,” International WELL Building Institute Senior Vice President Jaclyn Whitaker said July 23 during Bisnow’s Chicago Deep Dish: Sustainability & Wellness webinar.

Landlords And Wellness Experts Mobilizing To Revamp Buildings, Standards

The New York-based firm created the pioneering WELL Building Standard, the first rating system to focus exclusively on how buildings impact human health. It was also readying WELL v2, the follow-up rating system, when the coronavirus hit and sent them back to the drawing board.The…

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Putting A Number On The Impact Of Working From Home On Offices

 

At the moment, it is all theory and estimation: Nobody knows which of the short-term changes to office use brought about by the pandemic will stick, and which will fade away if and when the coronavirus retreats. 

But a report from real estate research firm Green Street Advisors has attempted to quantify the impact of increased working from home on office landlords in the U.S. and Europe. The numbers don’t make pretty reading. 

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Despite The Market Rebound, Many Investors Still Shorting Real Estate Stocks

The stock market tumble at the beginning of the coronavirus pandemic led to a rise in investors shorting the stocks of real estate companies, with some influential figures feeding the flames. Four months into the crisis, as the major stock market indexes have risen to nearly pre-pandemic levels, many investors are still betting against real estate stocks.

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