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 30:
- Canadian-based Omni Group agreed to pay more than $95 million for 200 N. LaSalle. The 30-story building is currently 66 percent leased.
- A survey of Midwest commercial real estate professionals found that the majority of brokers and lenders expect deal volumes to be higher in 2012 than 2011. Developers cited single-tenant retail, industrial and grocery/drug-anchored shopping centers as the main property types poised for development this year.
- A Goldman Sachs Group Inc. real-estate fund is changing its usual strategy and challenging creditors of the iconic John Hancock Center. The building is 81 percent leased and has about $400 million in debt.
- Corporate profits are soaring, an indicator for strong commercial real estate growth in 2012. Companies are using their profits to hire, expand office space and increase demand for CRE space.
What headlines caught your attention this week? Leave us a comment and let us know.