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 16:
- The Chicagoland Entrepreneurial Center leased 50,000 square feet of space at the Merchandise Mart. The center is called 1871 and will be a new downtown Chicago hub for technology startups.
- After being a tenant in The Willis Tower since the 1970s, law firm Latham & Watkins LLP signed a 15-year lease at 330 N. Wabash. This is the third new lease signed at 330 North Wabash in the past six weeks.
- Some of the nation’s biggest real estate investors took stakes in major office properties last year, which resulted in a record amount of recapitalizations.
- The Wrigley Building’s new owners have plans to develop the property surrounding the building by adding high-end retail stores and restaurants.
- A developer paid $12.5 million for the popular development site at 400 W. Randolph as the first of several steps toward building a large office tower along the Chicago River. No new downtown office towers were built last year.
What headlines caught your attention this week? Leave us a comment and let us know.