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Press Articles
Empty retail space jumps in second quarter
07/15/2008
(Crain's) - The vacancy rate for Chicago-area retail real estate shot up during the second quarter to
Industrial Continues to Weather Crunch
07/10/2008
(GlobeSt) -While vacancy has increased in the second quarter of 2008, the industrial market for the
U.S. Green Building Council set to modify LEED standards
07/07/2008
(Business Journals) - The U.S. Green Building Council is changing its certification process for green buildings through
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Announcements & Press
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Empty retail space jumps in second quarter
07/15/2008
(Crain's) - The vacancy rate for Chicago-area retail real estate shot up during the second quarter to its highest level in nearly five years, and is expected to continue to climb this year as merchants retreat.
Amid an increasingly harsh economy, the vacancy rate climbed to 8.65% during the second quarter, compared to 7.93% during the first quarter and 7.51% during the second quarter of 2007, according to a report by CB Richard Ellis Inc.
The vacancy rate hasn't been this bad since the third quarter of 2003, when it was 9.19%.
CB Richard Ellis says the vacancy will continue to rise
Industrial Continues to Weather Crunch
07/10/2008
(GlobeSt) -While vacancy has increased in the second quarter of 2008, the industrial market for the Chicago area is continuing to weather the credit crunch and weakening economy that is upsetting other sectors. "It is fairly healthy," says Mitch Rothstein, SVP with Transwestern. The industrial market "historically has been fairly stable and has less peaks and valleys than office or retail," Rothstein says.
Vacancy for industrial space was up slightly from 9.1% for the first quarter of the year, and has inched up to 9.5%, according to Transwestern's second quarter market report. "It is really not a significant kind of
U.S. Green Building Council set to modify LEED standards
07/07/2008
(Business Journals) - The U.S. Green Building Council is changing its certification process for green buildings through its Leadership in Energy and Environmental Design program.
A 30-day online public comment period ended June 22, and the new version, dubbed LEED 2009, is slated to debut in January.
More than 1,500 buildings have received LEED certification since the program was introduced in 2000, and more than 11,000 are seeking it.
In those eight years, the USGBC has changed the way architects, contractors and developers design and construct buildings. Even structures that don't pursue LEED certification are increasingly incorporating sustainable practices. Such steps include increased
"Advanced Energy Design Guide" Available for Free Download
07/03/2008
(USGBC) - The Advanced Energy Design Guide series of publications is now available as free electronic downloads. The publication series, now with four publications, has provided 30 percent energy reduction guidance for the following types of buildings:
Small retail buildings
Small office buildings
K-12 school buildings
Warehouse buildings
USGBC members can download the publications for free in partnership with the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), U.S. Department of Energy, the Illuminating Engineering Society of North America and the American Institute of Architects.
If you would like something for your bookshelf, full-color print copies may still be purchased
Selling Green in the Spec Office Market
03/01/2008
(bdcnetwork.com) When Kansas City-based Zimmer Real Estate Services put the finishing touches on its LEED-certified EcoWorks at Southlake Park office building in Lenexa, Kan., more than six years ago, the developer slapped a premium-Class A price tag on leases in the 124,000-sf building and waited for prospective tenants to get in line to sign up.
Even though the Kansas City office market was soft at the time, Zimmer felt that the state-of-the-art office space, with its then-unique green features and potential to save tenants money through lower energy and operations costs, would fetch higher lease rates and fill up faster than
A first since late 2005: Downtown office vacancy up
03/31/2008
(Crains) - The downtown office vacancy rate rose slightly during the first quarter, the first increase in more than two years and a sign that the market is leveling off.
The vacancy rate edged up to 11.4% during the first quarter, compared to 11.3% during the fourth quarter of 2007, according to a preliminary report by the Chicago office of real estate firm CB Richard Ellis Inc. The last time the vacancy rate rose was during the fourth quarter of 2005, when it was 16.0%.
A drop in demand for space helped nudge up the vacancy rate; no new office space came
Sale-Leasebacks Staying Steady
03/11/2008
(Stalin Report) - As real estate deals go, sale-leasebacks tend toward the vanilla. They might involve a collection of office buildings tenanted by doctors and dentists, or nondescript warehouses near nondescript Interstate exchanges, or a portfolio of 50,000-square-foot strip centers in secondary and tertiary markets. All stable, perhaps, but none too sexy.These days, however, when raising the scratch to invest in some fancier flavors of real estate is harder than it used to be, vanilla is looking pretty good.In fact, sale-leasebacks may end up being a star among transaction types this year, at least as much as this year’s tepid
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