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 March 5:
- President Obama changed the location of the G8 Summit from Chicago to Camp David. Chicago will still host the NATO Summit in May 2012.
- Chicago-area commercial real estate sales rose across all property types in 2011, continuing a steady climb back from the 2008 crash. Sales of Chicago-area office, industrial, retail, apartment, hotel and development sites totaled $10.8 billion in 2011, an 83 percent increase from 2010.
- The parent company of United Airlines is considering moving its headquarters to the Willis Tower. United Continental Holdings could consolidate its offices at the Willis Tower, where it is expected to lease approximately 200,000 additional square feet.
- The City of Chicago celebrated its 175th anniversary of incorporation this week. Chicago’s downtown buildings were lit up in blue to honor the city’s rich history and help the city celebrate its anniversary.
- Another large tenant expanded at 330 N. Wabash Ave. Law firm Burke Warren MacKay & Serritella P.C. signed a lease through 2024 at 330 N. Wabash Ave. for 54,882 square feet – a 41 percent increase in office space.
What headlines caught your attention this week? Leave us a comment and let us know.