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Deja Vu

Chicago

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Deja Vu
Experts at last night's ULI  meeting say '10 trends will look similar to '09—a pattern we'll sustain until we find the next big job creator. Could be worse. Not all '09 trends were bad: Snuggies, anyone?
 
Transwestern Investment Corp.'s Steve Quazzo, right (with Colliers Bennett & Kahnweiler's Keith Largay) speak at ULI event
At the Renaissance (hotel, not the era), Transwestern Investment Corp.'s Steve Quazzo, right (with Colliers Bennett & Kahnweiler's Keith Largay), explains the difference between Chicago and NYC office markets: In Chicago, rents dropped from $35 to $24 PSF, but TI dollars rose from $60 to $90 PSF. In New York, rents dropped from $100 PSF to $60, but TI stayed the same. (We're hoping this means we have nicer office space now.)
Walton Street Capital's Jay Weaver and ULI consultant Jonathan Miller speak at ULI event

And what of the recent news that GGP's  CMBS loans are all being extended for six years at the current 5.5% interest? Walton Street Capital's Jay Weaver and ULI consultant Jonathan Miller say this would never happen to a client without tenants or a history. Jonathan adds, we can increase job growth long term by investing in our country and creating science or technology-based sustainable jobs.