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 June 10.
- Chicago’s most visible buildings and landmarks are showing their red and black pride by “Lighting it up Red” and more this week in honor of the Chicago Blackhawks during the Stanley Cup Finals. Well-known building participants include the CNA Center, Aon Center, Blue Cross Blue Shield Tower, Crain Communications Building and John Hancock Center.
- Upon approval by the Community Development Commission, Chicago-based Vienna Beef received a $5.0 million subsidy to help finance its move to Bridgeport. The 103,445 square foot plant will undergo a $7.3 million renovation before the company makes its move from the North Side, where it has operated since 1972.
- To better cater to its distribution service needs, The Tribune Company leased 18,500 square feet of space at 2500 W. Bradley Place in North Center. The location’s easy access to I-90/94 as well as its flexibility for future expansions were drivers behind the leasing.
- With more than 150 members in attendance, BOMA/Chicago held its Mid-Year Market Review this week, where veteran CRE professionals shared insights on the state of the commercial real estate industry in Chicago. Learn more about what our panelists had to say in these GlobeSt.com articles here and here.
- Real estate brokerage firm DTZ is moving its Chicago office to 77 W. Wacker Dr., where it will sublease 43,000 square-feet at the former United headquarters space until 2022. The move, set to occur March 2014, is part of the company’s aggressive growth initiative in Chicago.
What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.