News
Optimism Abounds
May 7, 2010
| Last year, the old building sold in Chicago went to a tequila company. But celebrating Cinco de Mayo meant more than just a tequila tasting for members of COLBA who gathered last night to hear HFF's Jaime Fink and Jeff Bramson talk about capital markets, as well as their firm's latest assignment, selling 300 N. LaSalle. The building, completed in 2009, is expected to act as a benchmark for investors jumping in off the sidelines. | |||
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| Here's Transwestern's Ron Lakin, CB Richard Ellis' Carl Westman, Jaime, MB Real Estate's Jay Beadle and Jeff after the panel. Jeff and Jaime said Chicago will remain one of the six top markets in the country and that lots of investors are hungry for opportunity. As fundamentals improve, sales should start to pick up. | |||
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| JLL's Bill Rogers, here with Executive Productions' Audrey Lakin, says the sale of 300 N. LaSalle will be an indicator for the rest of the market on what sales prices, and maybe even the price of constructing a new building, should be. As a tenant rep, Bill says he's seen a lot of larger tenants, like Citadel, who will soon be looking for new space at recent or proposed buildings, which may create good opportunities for tenants seeking quality shadow space. We also hear his softball team is 2-0. | |||
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| Blue Vista's Todd Vender and The John Buck Co.'s Howard Meyer were keeping their hands folded so they wouldn't have any more tequila. Howard is leasing a new space to DePaul University for two floors at Triangle Business Park near O'Hare. Both said they're starting to see more buyers looking for opportunities. | |||
