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 February 27:
- Chicago-based Groupon will become the largest tenant in the building when it moves its offices to 600 W. Chicago Ave. Groupon will move 1,500 editorial and sales employees from its temporary office at 303 E. Wacker Dr. to its new River North headquarters.
- Delinquency rates on Chicago commercial real estate property and construction loans fell for the third straight quarter. Although the Chicago commercial real estate market is improving, the decline in delinquencies is likely due to banks selling or foreclosing on distressed property loans.
- About 4,000 people climbed 94 flights up the John Hancock Center’s stairways to help the Respiratory Health Association of Metropolitan Chicago fight lung disease. The annual “Hustle Up The Hancock” has raised $9 million for the cause since it began in 1998.
- Chicago-based Jones Lang LaSalle Inc. released its annual Chicago Skyline Review, a report on the local office market that includes data on average rents and vacancy rates. The graphic to the right outlines the floor-by-floor lease status of six prominent downtown Chicago buildings.
- Chicago Mayor Rahm Emanuel unveiled his 10-point economic plan for the city. One of the key points is to increase Chicago’s appeal as a global center for business services and headquarters by focusing on technologies such as cloud computing or energy-efficient building management.
What headlines caught your attention this week? Leave us a comment and let us know.