Each week, The Elevator Speech summarizes news related to some of the key events, buildings, deals and dealmakers that shaped headlines. Here’s what caught our attention the week of August 15th:
- The Illinois Real Estate Journal interviewed Phil Stafford, a member of BOMA/Chicago’s Board of Directors, about property management trends.
- The unfinished Waterview Tower at 111 W. Wacker Dr. sold for $26 million, a fraction of its $100 million debt.
- Commercial-property buyers may shift their focus from secondary markets to big coastal cities in the U.S. to reduce investment risk amid continuing economic concerns.
- Zeller Realty Group will put their 24-story, 322,443-square-foot office tower at 500 N. Michigan Ave. up for sale after Labor Day, according to Chief Operating Officer and BOMA/Chicago’s Board President, Bob Six.
- Slowed development and difficult access to retail businesses on the Chicago Riverwalk are creating dilemmas for nearby commercial real estate properties.
- Finally, a big thank you to all of our sponsors and attendees for making our 13th Annual BOMA/Chicago Golf Classic this week such a success!
What headlines caught your attention this week? Leave a comment and let us know.