News
DOWNTOWN NEEDS MORE OFFICE SPACE
April 12, 2012
| The long-term trends are favorable for the Downtown Chicago office market, says Trammell Crow principal Grady Hamilton, who will join Bisnow's State of Office event April 24 at Trump Chicago. Long term means the next three or four years, a timeframe in which new buildings can be completed. | ||
 |
||
| "We're already seeing decreasing vacancies, but more fundamentally, the city is regarded as one of the top economic centers in the world," Grady tells us. Downtown will need more space in a few years, especially because of demand from large tenants whose needs can't be met by current configurations. (Just like any growing boy, you sometimes need to keep buying new jeans.) The trend of companies going from the suburbs to the city will continue to be a noteworthy one, but he doesn't think it will be the essence of what makes the CBD successful. Trammell Crow's Chicago office, which Grady heads, wants to be a part of that success, and is putting together capital and preleasing to raise 1M SF at 301 S. Wacker. | ||
|
