Happy New Year! Thanks to all who read and commented on this blog last year. In 2012, we look forward to offering further comments and insight designed to promote dialogue on key issues that impact the Chicago office building industry and business community
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 January 2:
- The 12-story, 145,000-square-foot building at 209 W. Jackson Blvd. sold for more than $12 million. The Service Employees International Union is expected to leave when its lease expires this summer, providing an immediate challenge for the new owner.
- A new survey by Jones Lang LaSalle found that 2012 will be a strong year for green building, as government funding and collaboration continue to drive sustainable design and development.
- The top 10 Chicago CRE stories of 2011 according to Crain’s Chicago Business include marquee building sales and residential developments.
SmithBucklin Corp. signed a lease at 330 N. Wabash for 111,081 square feet. This marks the building’s second large lease in the last few weeks.
- The financial crisis in Europe coupled with government budget cuts in the United States is expected to decrease demand for office space in 2012, except in select technology and energy markets.
What headlines caught your attention this week? Leave us a comment and let us know.