Each week, The Elevator Speech summarizes news related to some of the key industry trends, buildings, deals and dealmakers that shaped headlines. Here’s what caught our attention the week of December 12:
- The American Medical Association is moving its headquarters to 330 N. Wabash Ave. in River North. The 52-story building will be renamed AMA Plaza when the American Medical Association moves in 2013.
- The delinquency rate of securitized commercial property loans in the Chicago area continues to rise despite vacancy rates falling at local office buildings, shopping centers and warehouses. The delinquency rate for local CMBS loans was 8.1 percent in November, its highest level since the real estate crash.
- A new master plan to modernize Union Station to accommodate for growth in Metra commuter rail service, Amtrak service and high-speed rail service is emerging.
- The U.S. Green Building Council (USGBC) announced that for the first time in history, the cumulative square footage of buildings certified under its LEED for Existing Buildings program is greater than LEED-certified new construction.
- The 16-story, 244,961-square-foot MillerCoors headquarters at 250 S. Wacker Dr. was sold to Credit Suisse Group for about $91 million.
- Advertising agency Publicis Worldwide doubled its space at 111 E. Wacker Dr. in the East Loop. The 32-story building will be 82 percent leased next year.
What headlines caught your attention this week? Leave us a comment and let us know.