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 17.
- Chicago-based GreenPoint Partners raised $2 million in early stage capital from investors Penton Media, the President’s Forum Capital Group and several other investors to accelerate development of its online energy efficiency marketplace. The goal of GreenPoint’s platform is to help building owners and managers discover ways to reduce operating costs by improving efficiency.
- Berkley Properties investor, Michael Silberberg, hired the Chicago office of HFF to find a buyer for his 24-story office property at 111 W. Jackson Blvd. The venture bought the property is 2011 and has spent $45 million on renovations, leading Silberberg to believe the building will sell for an estimated $135 million.
- According to a new Avison Young report, the explosive growth in e-commerce is creating new opportunities for commercial real estate investors given the heightened demand for distribution space. Chicago is identified as a desirable target for investors looking to invest in industrial properties in a dense, urban location.
- The U.S. Army Corps of Engineers will move its Chicago headquarters from the West Loop to the Bank of America Building at 231 S. LaSalle St. where is has leased 67,600 square feet of space.
- New World Van Lines selected Peak Construction as design builder for its $2 million, 35,000 square foot warehouse storage expansion at its global headquarters located in Chicago. Construction will begin this month with the demolition of the existing structure.
What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.