Each week, The Elevator Speech summarizes news related to some of the key industry trends, buildings, deals and dealmakers that shaped headlines. Below are articles that caught our attention the week of August 20.
- Last week we hosted the 14th Annual BOMA/Chicago Golf Classic. Once again, the event, held at the beautiful Cog Hill Golf & Country Club, was sold out with 318 golfers, sponsors and volunteers! The BOMA/Chicago Golf Classic was featured in Real Estate BisNow Chicago, and highlighted our members and their involvement with this great late-summer event.
- Chicago-based Sterling Bay agreed to buy River Center at 111 N. Canal St. for about $100 million, or roughly $110 per square foot. The 16-story, 924,800-square-foot River Center building offers the large, loft-style office space that technology firms continue to demand in the West Loop.
- Enterprise software provider Salesforce will base its Midwest corporate sales office in Chicago. Salesforce leased more than 100,000 square feet at 111 W. Illinois St., and plans to create 200 new jobs when it moves into its new River North office.
- An estimated 2 million people gathered along the lakefront for the Chicago Air & Water Show this past weekend. Now in its 54th year, the highlight of the 2012 show was the U.S. Navy Blue Angels, which preformed dive-bombing aerobatic routines along North Ave. Beach on Saturday and Sunday.
- Tishman Speyer Properties L.P. put 125 S. Wacker Dr. up for sale. More than seven years after purchasing the 31-story West Loop office tower, Tishman Speyer is seeking close to $120 million or $210 per square foot for the property. The company is looking to capitalize on the strong downtown Chicago office investment market.
What headlines caught your attention this week? Leave us a comment and let us know.