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 March 10.
JLL No Longer an Abbreviation
Jones Lang LaSalle, an international real estate company, rebranded itself last week by changing the firm’s name to “JLL.” The decision to shorten its name stemmed from the prominence of social media and the global trend of “going mobile” on smaller screens. According to JLL’s chief marketing officer, Charles Doyle, the international presence of JLL, especially in non-English countries, also spurred the need to make a name-change.
Lone Star State Strikes Out
After considering a move to Austin, TX, an Arlington Heights marketing firm decided to move its headquarters to 440 W. Ontario St. in River North. Fusion92 has signed a five-year lease for the entire three story, 25,650-square-foot building, which is owned by philanthropist Ann Lurie.
Agency Purchases Headquarters
AgencyEA LLC, a Chicago-based marketing agency, has purchased the building that it formerly leased— a four-story, 30,800-square-foot structure in River North. South Street Capital sold 920 N. Franklin to AgencyEA for $4.6 million in late February.
CNN Airing “Chicagoland” Series
CNN is currently airing an eight-part series titled “Chicagoland” on Thursday nights at 9PM Central. This non-scripted series explores the challenges currently facing Chicago, including social policies, neighborhood and youth safety and education. Part three of the eight episodes will air next Thursday, March 20 on CNN at 9PM.
City Launches Benchmarking Support
The City of Chicago has created a call center to support buildings with the Energy Benchmarking Ordinance. The call center went live last week. The phone number is 855-858-6878. Live support is available Monday through Friday from 9AM to 5PM. There is also email support at Info@ChicagoEnergyBenchmarking.org. Municipal and commercial buildings larger than 250,000 square feet will have to comply with the ordinance by June 1, 2014. Buildings between 50,000 and 250,000 square feet will have to comply by June 1, 2015.
What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.