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September 8, 2020

This Week's Chicago Deal Sheet

Demand for life sciences laboratory space is growing across the Chicago region, and American Landmark Properties is preparing its Illinois Science + Technology Park in north suburban Skokie for that future.

ISTP will invest nearly $18M into a new three-story, 135K SF building that will be ready for tenant improvements in Q4 2021, according to company officials. In addition, four build-to-suit sites already zoned for laboratory and research and development use or pharma-grade manufacturing totaling 1.3M SF of buildable space are available.

This Week's Chicago Deal Sheet

American Landmark Properties has chosen JLL to lease the 22-acre research campus at 4901 Searle Parkway, which already has more than 500K SF of laboratory and office space.“As the most established, longest-standing and largest science park in the region, ISTP is perfectly positioned to continue to grow as the state’s…

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Analysts Weigh In On What CRE Can Expect For Each Asset Class In Q4

Most years, we are not ready to say goodbye to summer, but this year things are different. There is the economy, there is the election, there are kids and other loved ones at home, there are restrictions on what we can and cannot do, there is Zoom and there is a global pandemic.

And save one or two silver linings, none of it has been too kind to commercial real estate. No one knows when it will all end or get back to normal, but one thing that is normal is today — the day most of the business world says goodbye to summer and begins the mad dash to the end of the year.

Analysts Weigh In On What CRE Can Expect For Each Asset Class In Q4

You would never know it, but much has happened in 2020. If you're suffering from pandemic haze and have lost track of where things stand in the industry, or even what day it is, Bisnow has you covered: We broke down all of the major commercial property asset classes to help you…

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This 30-Year Tishman Vet Is Now Going Big Into Proptech

After a 30-year career at one of the world’s top developers, many real estate professionals would be happy with a comfortable retirement or a few cushy non-executive directorships. Not so former Tishman Speyer Senior Managing Director Michael Spies.

Having left Tishman in January, after pioneering the firm’s business in Europe, Spies is making waves in the world of proptech. He has set up his own investment firm, Fuse Ventures, joined the board of well-known tenant engagement firm Equiem and, most recently, joined one of the largest investors in the proptech world, Navitas Capital, as a venture partner. 

Navitas, whose backers include JLLEquity ResidentialAvalonBay and Saint Gobain, is raising its third venture capital fund targeting real estate and construction technology. At $100M, it will be one of the largest yet raised in the sector.  

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In 2020, Job Interviews Went Virtual. Here's How CRE Recruiters Are Making It Work

 

Social distancing, lockdowns and quarantines have changed the way we work, the way we meet, and when it comes to job searches, it is also changing the way we interview.

According to Kati Baker, the director of recruitment for Downtown Apartment Co., a brokerage in Chicago, the demands of the coronavirus pandemic forced a complete overhaul of its recruiting and hiring process in a matter of weeks.

“Prior to the pandemic, our interviews were all conducted in person, so this is the first time I've done virtual interviews,” she said. “It was a totally new experience for me.”

While DAC has made several new hires via the new, online process, every new technology has its pros, cons and learning curves. Bisnow checked in with Baker along with recruiters at Walker & Dunlop and Draper and Kramer about how they, and their candidates, are making the shift.

Read the full story here.

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Jeff DeBoer On His Game Plan To Push The CRE Agenda Before The Election

Jeff DeBoer On His Game Plan To Push The CRE Agenda Before The Election  

In this series, Make Yourself At Home, we are hearing from members of the commercial real estate industry about how they are managing this new reality and gaining insight into their day-to-day approaches. You can subscribe on iTunes and Spotify.

This week, we’re speaking with Jeff DeBoer, the CEO of Real Estate Roundtable, a D.C.-based organization that represents over 100 real estate companies across the country.

DeBoer, who is testifying before the Senate Banking Committee next week, is one of the industry’s most influential lobbyists. He spoke on the podcast about how he will approach pushing the real estate agenda after Labor Day, considering Congress will be in session for just one month before the election, and an agreement…

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