CRE News: What We’re Reading the Week of February 25

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 February 25.

Downtown Chicago Office Building Sales

  • Now that vacancies are declining and rents are climbing in downtown Chicago, the Chicago Loop Alliance announced a new strategy plan aimed at clarifying the organization’s role in economic development, housing, transportation, tourism, culture and services in the Loop. The plan will tap input from business owners, elected officials, civic leaders and board members. “With the Loop moving in the right direction, it’s time to shift gears and ask residents and business owners what they think of its opportunities and challenges, as well as the role of the alliance,” said Michael Edwards, executive director of the Chicago Loop Alliance.
  • The 10-story office building at 216 W. Jackson is for sale. The 176,622-square-foot Class C property is 93 percent leased, and was purchased for $22.7 million in 2007. Farbman Group currently owns the building, and hired HFF Inc. to sell 216 W. Jackson.
Paul Chismudy of Automated Logic Corporation and BOMA/Chicago's Michael Cornicelli. Photo credit: Edward Bury

Paul Chismudy of Automated Logic Corporation and BOMA/Chicago’s Michael Cornicelli announced an agreement to launch a pilot smart grid program in Chicago. Photo credit: Edward Bury

What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.

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About BOMA/Chicago

The voice of Chicago's office building industry since 1902.
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