News
Looking for Assets in Unglamorous Places
June 28, 2012
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| Shiny core CBD properties are fine to own, but investors are also looking for infill CRE in less visible markets, Opus Development Corp VP Mike Yungerman tells us. Recently Opus found just such a buyer when it sold the 291k SF Building II of the Cicero Business Center in Cicero to Cabot Properties for an unspecified sum, with Colliers International's Steve Disse and Jeff Devine repping Opus in the deal. Mike explains that such buildings, while unglamorous, have their charms. (In fact, sometimes it's the "unglamorous ones" that have to work harder on their personality.) "Because of the infill nature of these developments, the vacancy rates of new, Class-A space are typically lower than greenfield developments," he says. |
