Each week, The Elevator Speech summarizes some of the key events, buildings, deals and dealmakers that shaped headlines. Here’s what caught our attention for the week of July 25th:
- Related Midwest completed its acquisition of the Waterview Tower project. The company plans to convert the stalled structure at 111 W. Wacker Drive into a 65-story, 500-unit luxury apartment building.
- Everyone is talking about the debt ceiling battles going on in Washington and the impact of a default on the federal government; but a default could significantly affect Chicago‘s interest rates and credit markets, too.
- Superman (actually actors and a production crew) will fly into downtown Chicago in mid-August to film “Man of Steel.” Read our recent post on BOMA/Chicago’s Blockbuster Buildings to learn about the positive impact of filming on Chicago’s economy.
- PricewaterhouseCoopers LLC’s Q2 2011 survey shows investors expect the value of Chicago’s office buildings to increase by 2 percent during the next 12 months.
Unilever will sublease about 22,125 square feet at Michigan Plaza to Guerrero Howe LLC, a publishing company that is relocating from 28 E. Jackson Boulevard to the 1.9-million-square-foot office complex.
- Steadfast Networks added another 6,800 square feet to its lease at 725 S. Wells Street. There’s less than 10,000 square feet of built-out space in the downtown Chicago area available for data center developers now.
What headlines caught your attention this week? Leave a comment and let us know.