Company News 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5ce6ab38ec212dc679d3ebc6 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/eUr_hOjOaCI/23 Dan Leahy and Packy Doyle Represent Brookfield Properties In Its Lease Transaction at 1640 Fullerton Court in Glendale Heights, Illinois <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1558621055517-VDGFLJUUZQFP811UNFV1/ke17ZwdGBToddI8pDm48kCoF2AobYP65WiF-f5bdVfR7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0j5yk2-fLDxgoxO59PwySD72Jkg6VZC054TVjBjnaAtwrRy498f1AjlIWweRC5YLbw/1640+Fullerton+Transaction+Announcement.png" data-image-dimensions="2500x1307" data-image-focal-point="0.5,0.5" alt="1640 Fullerton Transaction Announcement.png" data-load="false" data-image-id="5ce6ab718165f52633796137" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1558621055517-VDGFLJUUZQFP811UNFV1/ke17ZwdGBToddI8pDm48kCoF2AobYP65WiF-f5bdVfR7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0j5yk2-fLDxgoxO59PwySD72Jkg6VZC054TVjBjnaAtwrRy498f1AjlIWweRC5YLbw/1640+Fullerton+Transaction+Announcement.png?format=1000w" /> <p class="">NAI Hiffman is pleased to announce that Executive Vice President Dan Leahy, SIOR and Senior Associate Packy Doyle represented Brookfield Properties in its lease transaction at 1640 Fullerton Court in Glendale Heights, Illinois. The Cary Company, distributors of containers, packaging, raw materials/specialty chemicals, spill control products and filtration solutions for industry and consumers will occupy 91,381 square feet at the property.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=eUr_hOjOaCI:CrOu-WwwiH8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 23 May 2019 14:18:57 Z NAI Hiffman Dan Leahy and Packy Doyle Represent Brookfield Properties In Its Lease Transaction at 1640 Fullerton Court in Glendale Heights, Illinois https://www.hiffmanblog.com/blog/2019/5/23 2019-05-23 14:18 +00:00 2019-05-23 09:18 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5cd5c808a2b8b50001bcbe6c http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/h0EjJJyTEDc/10 NAI Hiffman 2019 Trivia Night Recap <p class="">Thanks to everyone who participated in NAI Hiffman’s third annual Trivia Night! Competitive teams filled The Market on Wednesday night to test their knowledge on a variety of subjects. Host Erin Claxton led our participants through seven categories with 70 possible points.</p><p class="">&nbsp;<strong>THE RESULTS</strong></p><p class="">The Accounting Department won the night with their overwhelming brainpower, as the <strong>team “4 Reasonably Intelligent People”</strong> ( Larry Woloshin, Robyn Bethune, Marisela Carbajal and Stefanie Rathnau) outdistanced the competition. The team amassed 39 points to take the 2019 title of Grand Trivia Champions. CONGRATULATIONS! </p><p class="">Two teams scored 31 points to share second place: <strong>“The Incredibles” </strong>(Carrie Szarzynski, Elizabeth Lettiere and Dawn Cothern) and <strong>“Noe Bronson”</strong> (Josh Will, Aimee Goudas, Stephanie Aguas, Mary Kats).</p> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1557514442583-TK1T4H9RUZH1F6R8A2FV/ke17ZwdGBToddI8pDm48kFGO-iFmGJKkF70JDf1TTt9Zw-zPPgdn4jUwVcJE1ZvWEtT5uBSRWt4vQZAgTJucoTqqXjS3CfNDSuuf31e0tVEVaW8DWvm23NmhJkLeeer0Wdi3DL0WAU3P0oFJkBExSaSj_myWHAvfaCrukiSsKlc/ww.jpg" data-image-dimensions="459x210" data-image-focal-point="0.5,0.5" alt="ww.jpg" data-load="false" data-image-id="5cd5c8ca08522999835f4c61" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1557514442583-TK1T4H9RUZH1F6R8A2FV/ke17ZwdGBToddI8pDm48kFGO-iFmGJKkF70JDf1TTt9Zw-zPPgdn4jUwVcJE1ZvWEtT5uBSRWt4vQZAgTJucoTqqXjS3CfNDSuuf31e0tVEVaW8DWvm23NmhJkLeeer0Wdi3DL0WAU3P0oFJkBExSaSj_myWHAvfaCrukiSsKlc/ww.jpg?format=1000w" /> <p class="">Team <strong>“Wonder Women” </strong>(Erin Converse, Melissa Kobiella, Cori Schramka, Tammy Sullivan) threw down the gauntlet with their spectacular matching outfits and took home the highly coveted Best Theme Trophy (a vintage Ninth Place trophy from the 1993 Fifth Grade Illinois State Spelling Bee). </p><p class="">Think you could have done better? Check out the <a href="https://www.hiffmanblog.com/s/TriviaNight2019.pdf" target="_blank">questions </a>and see for yourself!</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=h0EjJJyTEDc:oxL6uRCRXJ8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 10 May 2019 18:56:40 Z NAI Hiffman NAI Hiffman 2019 Trivia Night Recap https://www.hiffmanblog.com/blog/2019/5/10 2019-05-10 18:56 +00:00 2019-05-10 13:56 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5ccc6192ec212d9f4f5b07d6 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/iWrEz2NeNuo/3 NAI Hiffman 2019 Spring Step Challenge <h2>Recap, Winners, Facts &amp; Figures</h2><p class="">Over the past six weeks, NAI Hiffman hosted our third annual Step Challenge in partnership with our insurance provider, Cigna. Here is a recap with some quick comparisons and infographics.</p><p class="">45 employees actively participated in the Step Challenge (meaning they recorded steps for at least half the days of the total challenge). Together, that group recorded more than 16 million steps over the 42 days of the challenge.</p>&nbsp; <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899322634-DN6J16BJBI95OUM11UEQ/ke17ZwdGBToddI8pDm48kCO8ozsAsyVvEZ8AFXX5KnUUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcCVCm7abp9pbhSMPY9cv8k-nLwGZ9uDb0G-flUmzqI6No2aZvAQGWyrTR3kseeRXJ/totals.PNG" data-image-dimensions="1181x236" data-image-focal-point="0.5,0.5" alt="totals.PNG" data-load="false" data-image-id="5ccc65fa15fcc03bd12e656f" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899322634-DN6J16BJBI95OUM11UEQ/ke17ZwdGBToddI8pDm48kCO8ozsAsyVvEZ8AFXX5KnUUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcCVCm7abp9pbhSMPY9cv8k-nLwGZ9uDb0G-flUmzqI6No2aZvAQGWyrTR3kseeRXJ/totals.PNG?format=1000w" /> &nbsp;<p class="">Studies have shown that the average adult American makes it to only half of the 10,000 steps per day recommended by the American Heart Association. All of the NAI Hiffman participants exceeded the US national average of 5,117 steps per day, and over a third surpassed the 10,000 step-per-day average.</p><p class="">Separating results by department, Accounting took the lead for the third year in a row with a 11,605 per-day average, followed by Corporate (Operations, Marketing, IT) with 11,291 per day, Brokerage with 10,142 per day and Management with 9,371 per day. However - as a subset of Management, the NAI Hiffman engineers actually averaged almost 13,000 steps per day.</p>&nbsp; <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899392226-FEQAF8SA5TKJ0V53CAB5/ke17ZwdGBToddI8pDm48kFDanUjreWUoH02Ea9CLGBAUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcvrl7B8J3ZYnnVymJynHrsH1b8DXXA_A16cLpU_JWZmfAh_YG2PLeMcFb-eHYT3Ru/chart-1.PNG" data-image-dimensions="1361x629" data-image-focal-point="0.5,0.5" alt="chart-1.PNG" data-load="false" data-image-id="5ccc66409b747a292f1fd014" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899392226-FEQAF8SA5TKJ0V53CAB5/ke17ZwdGBToddI8pDm48kFDanUjreWUoH02Ea9CLGBAUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcvrl7B8J3ZYnnVymJynHrsH1b8DXXA_A16cLpU_JWZmfAh_YG2PLeMcFb-eHYT3Ru/chart-1.PNG?format=1000w" /> &nbsp;<p class="">Now that the first round of our challenge has concluded, we can let you in on some of the common cheats people use to gain a leg up in office step competitions. As reported by Fitbit, creative users have resorted to the following sneaky methods to gain some extra steps - by attaching their device to: power drills, car wheels, ceiling fans, lawn mowers, dryers, dogs, and even children. (The benefit of enlisting pet and child labor is their tiny little legs have a short stride-length and rack up way more steps when covering the same distance.)</p><p class="">Assuming an average stride length of 2.5 feet for men and 2.2 feet for women, our participants walked a total of 7,130 miles over the course of the challenge. That’s roughly the distance from Chicago to the southern tip of South America!</p><ul data-rte-list="default"><li><p class="">The tallest building in the world, the Burj Khalifa in Dubai, is a little over half a mile long. Based on our accumulated steps, we could have walked to the tip of the tower and back to the ground over 7,000 times. (Disregarding the rules of gravity and the larger question of why anyone would want to do such a thing.)</p></li><li><p class="">It is estimated that a World Cup soccer player runs approximately 7 miles per game. By that metric, we played the equivalent of 1,018 World Cup soccer games.</p></li><li><p class="">Titanboa, a prehistoric python with a cool name, was estimated to grow up to 48 feet in length. Our participants covered about 37.6 million feet, which is about 784,313 prehistoric snakes lined end-to-end.</p></li><li><p class="">According to the New York Times, the average running shoe should be replaced after about 400 miles, so as a group we burned through about 18 pairs of Nikes.</p></li><li><p class="">In January of 2017, Morugadi Venkata Krishna Reddy, Morugadi Vanaja, and Morugadi Vamshi Krishna Reddy, took the world’s longest golf cart journey through India, covering 1,034.5 miles. In order to cover the same distance as our participants they would have to make that same drive about seven more times.</p></li><li><p class="">Average gas mileage for cars and light trucks in the US is 23.6 miles per gallon, and the current average gas price in Chicago is about $3.46, so our step total converted to dollars equals $1,045.33 in gas savings.</p></li><li><p class="">The longest unbroken walk in the world was walked by George Meegan from Tierra Del Fuego to Northern Alaska. George did not stop walking for 19,019 miles and 2,425 days. <br>A quick Google image search reveals that George Meegan looked… pretty much exactly how you would expect him to look…</p></li></ul>&nbsp; <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899644712-R0RLFJHYOMPPOD5OVLXK/ke17ZwdGBToddI8pDm48kDS9azjDdnYG9fGvEMRWm3BZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZUJFbgE-7XRK3dMEBRBhUpwjFyDjmynhqVE48QLp1fyH_sLCWhT7CaiNyJLK7QQOtvIwJdB4cPuLNdzo7nelUUI/george.jpeg" data-image-dimensions="590x701" data-image-focal-point="0.5,0.5" alt="george.jpeg" data-load="false" data-image-id="5ccc673c24a6942dbf33d9bb" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556899644712-R0RLFJHYOMPPOD5OVLXK/ke17ZwdGBToddI8pDm48kDS9azjDdnYG9fGvEMRWm3BZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZUJFbgE-7XRK3dMEBRBhUpwjFyDjmynhqVE48QLp1fyH_sLCWhT7CaiNyJLK7QQOtvIwJdB4cPuLNdzo7nelUUI/george.jpeg?format=1000w" /> &nbsp;<p class="">Humans burn approximately 1 calorie for every 20 steps we take. There are 3,500 calories in every pound. By that metric, our steps burned more than 800,000 calories, which equals about 229 pounds. That’s roughly equivalent to the weight of 23 sacks of potatoes, 916 quarter-pound cheeseburgers or 1 Nicolas Cage holding three cats..</p><p class="">The Top Five finishers from Round 1 of the 2019 NAI Hiffman Step Challenge are:</p><ol data-rte-list="default"><li><p class="">Daniela Ilo - 887,363 steps (over 21,000 steps per day!)</p></li><li><p class="">Gabriela Olague - 716,275 steps</p></li><li><p class="">Luke Hannon - 689,860 steps</p></li><li><p class="">Gail Vermejan - 686,322 steps</p></li><li><p class="">Michael Brazeal - 646,511 steps</p></li></ol><p class="">Thanks to everyone who participated. Keep walking - Round 2 is coming this summer!</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=iWrEz2NeNuo:GD8BJP69NmA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 03 May 2019 15:43:08 Z NAI Hiffman NAI Hiffman 2019 Spring Step Challenge https://www.hiffmanblog.com/blog/2019/5/3 2019-05-03 15:43 +00:00 2019-05-03 10:43 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5cc864939b747a5b380eeb39 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/GXqDTOeYggE/30 Five Points of Industrial Analysis <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556636899679-EIQFZ0HAQKDTY6UYN1MT/ke17ZwdGBToddI8pDm48kMIebV6MdNPQMcRDrC5oPxMUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc73FUbOtyHSZLq0696RfXhzOQ1C7e-4RYctpOI87j69--0uIsXqDbvJ5MkV0zcn4f/rejournals.jpg" data-image-dimensions="1000x600" data-image-focal-point="0.5,0.5" alt="rejournals.jpg" data-load="false" data-image-id="5cc864e3e4966b1f82dc428d" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556636899679-EIQFZ0HAQKDTY6UYN1MT/ke17ZwdGBToddI8pDm48kMIebV6MdNPQMcRDrC5oPxMUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc73FUbOtyHSZLq0696RfXhzOQ1C7e-4RYctpOI87j69--0uIsXqDbvJ5MkV0zcn4f/rejournals.jpg?format=1000w" /> <p class="">Institutional investors, developers and users alike are drawn into the industrial vortex, an asset class outperforming all others as the economy continues to shift to on-demand everything. What’s in store for the remainder of 2019 and this development cycle?</p><p class="">On April 26, REjournals hopes to answer these questions when it hosts its CIP Industrial Summit at Hamburger University in Oak Brook. A dozen speakers—including brokers, developers, real estate attorneys and more—are slated to speak at the 16th annual event. You can&nbsp;<a href="http://www.cvent.com/events/16th-annual-cip-industrial-summit/event-summary-27da5f36a9ab4219b400a0a97748680b.aspx"><strong>register now</strong></a>&nbsp;if you haven’t already.</p><p class="">Ahead of the CIP Summit, we sat down with two of the event’s speakers to discuss five touch points—funding sources, speculative development, 3PL needs, design trends and the last mile phenomenon—to better gauge the state of the industrial market, from both a broker and developer point of view.</p><p class=""><strong>Sources of capital</strong></p><p class="">There has been increased foreign investment of late for industrial, from a pure investment standpoint as well as investment in development companies. According to Chris Gary, executive vice president with&nbsp;<a href="http://www.naihiffman.com/"><strong>NAI Hiffman</strong></a>&nbsp;and one of the speakers at this year’s CIP Summit, these foreign capital sources are targeting all ends of the spectrum of investment.</p><p class="">“Some foreign pension funds are still facing negative 10-year treasuries, like in Germany and Japan,” Gary said. “For these guys, maybe a 4-cap on Walmart distribution facility is pretty good. So you’re seeing that increase, especially with countries that are experiencing baby boomer bubbles, as they have to increase their positions for fixed equities.”</p><p class="">Pension funds have also steadily increased their real estate allocations in order to meet yield projections. Current real estate exposure for pension funds is above 10 percent, a drastic increase from 30 years ago when it was closer to 1 or 2 percent.</p><p class=""><strong>Spec versus build-to-suit</strong></p><p class="">Approximately three-quarters of industrial development last year was speculative, a trend that will continue, according to another CIP Summit speaker, Ben Harris, senior development manager at&nbsp;<a href="http://www.conorcommercial.com/"><strong>Conor Commercial Real Estate</strong></a>. “Build-to-suit product will still be delivered in 2019,” said Harris, “but only for highly specialized uses such as manufacturing, cold storage or hybrid uses containing showroom, distribution and manufacturing space.”</p><p class="">One such example is the built-to-suit that Conor Commercial is&nbsp;<a href="https://www.rejournals.com/bystronic-breaks-ground-on-new-north-south-american-market-region-hq-20180920"><strong>developing for Bystronic</strong></a>, a manufacturer, developer and supplier of laser cutting, press brake and metal bending systems. The building is 162,875 square feet with a combination of showroom, office, manufacturing assembly and warehouse spaces. Scheduled for delivery later this year, the Hoffman Estates building will serve as a new U.S. hub and offer an advanced showroom where visitors can experience the company’s innovations first-hand.</p><p class=""><strong>3PL consolidation</strong></p><p class="">The thirst for large warehouses has yet to be slaked, in part due to the changing behavior of the end user; as e-commerce subverts the traditional retail shopping center, products are shipped directly to the consumer from a warehouse. But mergers among third-party logistics (3PL) firms is also driving up the need for ever-larger industrial footprints.</p><p class="">“There’s definitely been an Amazon effect. In order to match their service and delivery requirements, distributors have had to increase the sophistication of their distribution, of getting their product into the hands of the consumers,” Gary said.</p><p class="">For example,&nbsp;<a href="https://www.xpo.com/"><strong>XPO Logistics</strong></a>, one of the largest 3PL firms in the world, has acquired 17 companies since 2012. With consolidation and larger capabilities comes the need for larger spaces from which to distribute.</p><p class=""><strong>Design trends</strong></p><p class="">There are some prerequisites for institutional investors playing in the industrial sector. Location is always important, of course, meaning infill sites in or immediately adjacent to established markets such as O’Hare, as well as close proximity to highways and public transportation.</p><p class="">Limited environmental issues and good clear heights are also must-haves. But the most noticeable changes in tenant leasing requirements today, according to Harris, are for more office space, more car parking and more trailer parking.</p><p class="">“This creates a challenging juxtaposition for the developer because land prices and construction prices are rising at a quick clip, which means the developer needs to maximize the site with the greatest building size possible in order to generate the returns needed to do the deal,” Harris said. “This means there is a friction between developer and tenant in which the developer wants maximum building square footage while the tenant wants maximum site amenities.”</p><p class=""><strong>Last mile</strong></p><p class="">It’s tough to fully embrace the “last mile” phenomenon of recent years. One can argue that a facility in Elgin and downtown Chicago are both last mile facilities—different buildings with different offerings, dependent on the service radius. But these sites, with dense population bases as well as labor sources, continue to attract investors, with out-of-market capital focusing on locales in or adjacent to the Chicago CBD.</p><p class="">“There has been an uptick in leasing and in development in the city of Chicago with several 100,000-square-foot-plus lease deals signed here in the past 12 months,” said Gary. “Three brand new projects just came out of the ground this past year and there are three more planned in the south Chicago market—a market that didn’t have any development as recently as a few years ago.”</p><p class="">Though there has been an increased institutional investment in last mile facilities recently, infill developments are incredibly difficult to do, partly because of all-time-high land prices (thus higher rents) and also the environmental issues that can often plague these locations, which create more upfront costs with lengthier due diligence investigations. Opposing political forces concerning highest and best use for a site and the limited number of infill sites to develop also create hurdles for developers.</p><p class="">“These four major factors create a scenario in which the developer must be very patient and willing to take on these challenges,” Harris said. “While tenant demand for infill is there, you will continue to see last-mile projects, though not at a high velocity because of these constraints.” &nbsp;</p><p class=""><strong>To learn more about the state of Chicago’s industrial maket, the 16th annual CIP Industrial Summit is a must-attend event. Space is limited, so&nbsp;</strong><a href="http://www.cvent.com/events/16th-annual-cip-industrial-summit/event-summary-27da5f36a9ab4219b400a0a97748680b.aspx"><strong>register now</strong></a>. </p><p class="">As seen at <a href="https://www.rejournals.com/">https://www.rejournals.com/</a> </p><p data-rte-preserve-empty="true" class=""></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=GXqDTOeYggE:gYARPZ7skFw:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 30 Apr 2019 15:10:18 Z NAI Hiffman Five Points of Industrial Analysis https://www.hiffmanblog.com/blog/2019/4/30 2019-04-30 15:10 +00:00 2019-04-30 10:10 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5cc087c6971a1859adb616ef http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/X4t25pwp5YU/24 REMark: NAI Hiffman Examines Castle Occupancy Across Westeros <a href="https://www.hiffmanblog.com/s/NAI_HIffman_REmark-Westeros-Castle-Occupancy.pdf" target="_blank"> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556121581489-HMDZ308O4HGOJLUGBCL9/ke17ZwdGBToddI8pDm48kLVj_dmTmixAHoLT_KESDs17gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmMCg6RGY8TrcVSOIk4QoDPr1zdc8owicTN_ik0Z_2zI80T8ZbC_tuni7DmfCXzj8R/REmark-+Westeros+Castle+Occupancy-+Final.jpg" data-image-dimensions="1095x1095" data-image-focal-point="0.5,0.5" alt="REmark- Westeros Castle Occupancy- Final.jpg" data-load="false" data-image-id="5cc087ed15fcc01327d2f6ef" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1556121581489-HMDZ308O4HGOJLUGBCL9/ke17ZwdGBToddI8pDm48kLVj_dmTmixAHoLT_KESDs17gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmMCg6RGY8TrcVSOIk4QoDPr1zdc8owicTN_ik0Z_2zI80T8ZbC_tuni7DmfCXzj8R/REmark-+Westeros+Castle+Occupancy-+Final.jpg?format=1000w" /> </a> <p class="">NAI Hiffman Research examines castle occupancy across Westeros amid growing headwinds in this edition of the REmark. Click the image above to read the full report.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=X4t25pwp5YU:9j1BA1xXdnc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 24 Apr 2019 16:03:08 Z NAI Hiffman REMark: NAI Hiffman Examines Castle Occupancy Across Westeros https://www.hiffmanblog.com/blog/2019/4/24 2019-04-24 16:03 +00:00 2019-04-24 11:03 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5ca79df124a6944a84855ee3 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/PbDDTRPvuqk/11-4amx9-la9pe-kw6ps-7b85y Research Market Peek Industrial Office First Quarter 2019 Market Peek <html><head><title>First Quarter 2019 Market Peek</title></head> <body rightmargin="0" leftmargin="0" topmargin="0"><meta name="x-apple-disable-message-reformatting"/>A First Look at Chicagoland Real Estate Statistics <table border="0" cellpadding="0" width="100%" cellspacing="0"><tr><td><img alt="" width="1" height="5" hspace="0" vspace="0" border="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td><td width="600" valign="top" align="center"><table border="0" cellpadding="0" width="100%" cellspacing="0"><tr><td valign="top" align="center"><font face="verdana,arial" size="1" color="#000000"><center><table bgcolor="#ffffff" width="595" id="VWPLINK"><tr><td colspan="1" rowspan="1" width="100%">Having trouble viewing this email? <a track="off" shape="rect" href="http://campaign.r20.constantcontact.com/render?m=1110957924043&amp;ca=1970cec1-576d-4524-ae91-97c791530f3c" target="_blank">Click here </a></td></tr></table></center></font></td></tr></table></td><td><img alt="" width="1" height="5" hspace="0" vspace="0" border="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td></tr></table> <table border="0" bgcolor="#F1EDEE" cellpadding="0" width="100%" cellspacing="0" class="OuterBGColor"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Body"> <table border="0" cellpadding="0" width="100%" cellspacing="0" class="TopMarginBGColor"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center"> <table border="0" cellpadding="0" width="1" cellspacing="0" class="TopMarginWidth"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="TopMargin"> </td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="0" width="1" cellspacing="0" class="MainWidth"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="OuterBorderBGColor OuterBorder"> <table border="0" bgcolor="#FFFFFF" cellpadding="0" width="100%" cellspacing="0" class="InnerBGColor"> <tr> <td colspan="1" rowspan="1" valign="top" align="center"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="Top"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table></td> </tr> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="TopFullColumn"> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK3"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> First Quarter 2019 Market Peek &nbsp; </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK4"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>NAI Hiffman is pleased to present the First Quarter 2019 Market Peek, a first look at the market statistics for the Chicago metropolitan office and industrial real estate markets.</span> </td></tr></table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK5"><tr><td colspan="1" rowspan="1" valign="top" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019ticker.gif" alt="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019ticker.gif" target="_blank"><img height="74" vspace="0" border="0" hspace="0" width="575" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019ticker.gif"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK7"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Industrial: Industrial Projects Under Construction Hit Record High</span> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK8"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>At the end of the first quarter, 65 buildings totaling 23.4 million square feet (MSF) were under construction in the Chicago market, with 17.7 MSF (75.3%) to be built on a speculative basis. Thirteen projects totaling 4.6 MSF broke ground during the quarter - 3.6 MSF on a speculative basis, and 1.0 MSF of build-to-suit projects. Despite 2.7 MSF of new speculative product completed during the first quarter, the overall vacancy rate continued to decline to measure 5.66% first quarter.</li></ul> <ul><li>Net absorption totaled more than 4.1 MSF first quarter with nearly 30 companies taking occupancy of more than 100,000 square feet (SF) during the quarter. Companies contributing to the positive absorption trend included NFI Industries in Joliet (993,000 SF ), First Logistics in Chicago (331,000 SF ), Crown Brands in Somers, WI (301,000 SF ), and FXE Warehouse in Bolingbrook (300,000 SF) all taking occupancy during the quarter. Nearly 9.8 MSF of new leasing activity occurred during the first quarter, suggesting that net absorption will remain healthy in the quarters to come.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK9"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Industrial.jpg" alt="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Industrial.jpg" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Industrial.jpg"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK11"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"><tr><td colspan="1" rowspan="1" class="mceSelected"><br/></td><td colspan="1" rowspan="1" class="mceSelected"> <strong><a track="on" href="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q19_Market_Statistics_Industrial.pdf" shape="rect" linktype="1" alt="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q19_Market_Statistics_Industrial.pdf" target="_blank">DOWNLOAD INDUSTRIAL MARKET PEEK</a>&nbsp;</strong> </td><td colspan="1" rowspan="1"/></tr></table> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" class="ContentDividerPadding"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" bgcolor="#BDBDBD" rowspan="1" align="center" class="ContentDivider ContentDividerColor" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table> </td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK14"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Office: Vacancy Increases in the Suburban Market; CBD Records Positive Net Absorption to Start 2019</span> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK15" class=""><tr><td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>SUBURBS</b> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK16"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>The overall vacancy rate increased 35 basis points to 18.52% in the first quarter of 2019. Class A average asking rents increased slightly to $26.66 per square foot (PSF) from $26.49 PSF in the previous quarter.</li></ul> <ul><li>The suburbs recorded negative absorption of 408,667 SF in the first quarter. New leasing activity was nearly 1.4 MSF, but this was down by approximately 500,000 SF from the previous quarter. While no deliveries of new product occurred in the first quarter, there is one project is under construction in the suburban market, a 136,000-square-foot facility in Skokie that is scheduled to deliver during the third quarter.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK17"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Suburbs.jpg" alt="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Suburbs.jpg" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Suburbs.jpg"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK39"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>CBD</b> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK19"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>The overall vacancy rate in the Central Business District (CBD) decreased 22 basis points from the fourth quarter, to measure 12.83%. Following three quarters of negative absorption, the downtown submarkets witnessed 337,589 SF of positive net absorption. Two leading tenants that contributed to the positive net absorption were Health Care Service Corp. moving into 63,000 sf at the AON Center, and Industrious moving into 47,000 SF in the West Loop.</li></ul> <ul><li>The CBD recorded 2.5 MSF of new leasing activity in the first quarter. Class A asking rents increased to $43.81 PSF in the first quarter from $43.08 PSF in the fourth quarter of 2018. Nearly 5.7 MSF of office space is under construction downtown, with 96.0% of the construction activity occurring in the West Loop submarket.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK20"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" href="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Downtown.jpg" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Downtown.jpg" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/1Q2019/1Q2019-Downtown.jpg"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK22"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"><tr><td colspan="1" rowspan="1"><br/></td><td colspan="1" rowspan="1"> <strong><a track="on" href="http://www.Hiffman.net/CC/marketpeek/1Q2019/1Q19_Market_Statistics_Office.pdf" shape="rect" linktype="1" alt="http://www.Hiffman.net/CC/marketpeek/1Q2019/1Q19_Market_Statistics_Office.pdf" target="_blank">DOWNLOAD OFFICE MARKET PEEK&nbsp;</a></strong> </td><td colspan="1" rowspan="1"/></tr></table> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" class="ContentDividerPadding"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" bgcolor="#BDBDBD" rowspan="1" align="center" class="ContentDivider ContentDividerColor" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table> </td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK16"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> Learn More <br/></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK26"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="Content"> <table cellpadding="3" cellspacing="0" align="none"><tr><td colspan="1" rowspan="1"> <span>For further information regarding the content of this market peek or if you are interested in attending a custom market overview presentation, please contact:</span> <br/> <strong>AMANDA ORTIZ&nbsp;</strong><br/> Director of Research 630-693-0645 aortiz@hiffman.com </td></tr></table> </td></tr></table></td> </tr> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="Middle"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" bgcolor="#F1EDEE" rowspan="1" valign="top" align="center" class="SideColumnBGColor"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="middle" align="center" class="SideColumn"> </td> </tr> </table> <table border="0" cellpadding="0" width="1" cellspacing="0" class="SideColumnWidth"> <tr> <td colspan="1" rowspan="1" align="center"><img height="1" 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border="0" hspace="0" width="1" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td></tr></table> </td> </tr> </table> </body> </html><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=PbDDTRPvuqk:6pvMjLMmbe8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 05 Apr 2019 18:41:55 Z NAI Hiffman First Quarter 2019 Market Peek https://www.hiffmanblog.com/blog/2018/4/11-4amx9-la9pe-kw6ps-7b85y 2019-04-05 18:41 +00:00 2019-04-05 13:41 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c9d3bcbf311be00018b5da5 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/SJUjkhiORQo/28 REmark Research REmark: Examining Suburban Office Buyers and Sellers 2008 - 2018 <p>NAI Hiffman Research examined suburban office sales transactions over 100,000 square feet by dollar volume to explain how buyer and seller profiles have changed since the great recession. Our findings show significant growth in private equity / REIT investments while institutional buyers have decreased. The decrease in institutional buyers can be explained in part by a shift to other suburban markets and property types. </p><p>Download our full REmark by clicking the image below.</p> <a href="https://www.hiffmanblog.com/s/NAI_Hiffman_REmark_03292019.pdf" target="_blank"> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1553808795229-OXI60OZ2JLXHCLR9Z20E/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/social_post_image.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="social_post_image.jpg" data-load="false" data-image-id="5c9d3d9af4e1fc2a0942e225" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1553808795229-OXI60OZ2JLXHCLR9Z20E/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/social_post_image.jpg?format=1000w" /> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=SJUjkhiORQo:4uFzn0utSmA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 28 Mar 2019 21:34:04 Z NAI Hiffman REmark: Examining Suburban Office Buyers and Sellers 2008 - 2018 https://www.hiffmanblog.com/blog/2019/3/28 2019-03-28 21:34 +00:00 2019-03-28 16:34 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c82894ceef1a1f6d6f6d989 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/1fGSbvKAZT4/8 REmark: Top Five Industrial Owners 2009 - 2019 <p>NAI Hiffman Research compiled data on Chicagoland’s top industrial real estate owners from 2009 to 2019. In this edition of our REmark, we use that data to compare and contrast the top five industrial owners as of today and their holdings in 2009. </p><p>Click the image below to review our latest REmark and remember to like and share on social media. </p> <a href="https://www.hiffmanblog.com/s/NAI-Hiffman-REmark-2009-2019-Top-Industrial-Owners-FINAL.pdf" > <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1552058767659-PPTSBHYQZCQ0WLL5VIMI/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/NAI-Hiffman-REmark-2009-2019-Top-Industrial-Owners-FINAL.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="NAI-Hiffman-REmark-2009-2019-Top-Industrial-Owners-FINAL.jpg" data-load="false" data-image-id="5c82898f71c10b854df87e4a" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1552058767659-PPTSBHYQZCQ0WLL5VIMI/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/NAI-Hiffman-REmark-2009-2019-Top-Industrial-Owners-FINAL.jpg?format=1000w" /> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=1fGSbvKAZT4:8WqdKAsud88:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 08 Mar 2019 15:32:36 Z NAI Hiffman REmark: Top Five Industrial Owners 2009 - 2019 https://www.hiffmanblog.com/blog/2019/3/8 2019-03-08 15:32 +00:00 2019-03-08 09:32 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c757a9be79c70dbbd59cdc5 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/AG_al4At7xg/26 Office GSA to lease space in Lombard <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1551203350614-ASAXX0FKMXAOMF0PFOOY/ke17ZwdGBToddI8pDm48kA0wePVlgOGM5yNNrADThjYUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc3f5rMIUspMOT17T3MGHdS3s1KwpjdUupKJDR9JNb8i8O932tY93Uq43o4DcCmt6U/aria_park.jpg" data-image-dimensions="1000x750" data-image-focal-point="0.5,0.5" alt="The U.S. General Services Administration will occupy more than 70,000 square feet at 747 E. 22nd St., in Lombard through a long-term lease, according to commercial real estate firm NAI Hiffman." data-load="false" data-image-id="5c757c16eb39317fcc1b7ff5" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1551203350614-ASAXX0FKMXAOMF0PFOOY/ke17ZwdGBToddI8pDm48kA0wePVlgOGM5yNNrADThjYUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc3f5rMIUspMOT17T3MGHdS3s1KwpjdUupKJDR9JNb8i8O932tY93Uq43o4DcCmt6U/aria_park.jpg?format=1000w" /> <p><strong>The U.S. General Services Administration will occupy more than 70,000 square feet at 747 E. 22nd St., in Lombard through a long-term lease, according to commercial real estate firm NAI Hiffman.</strong></p> <p><strong>LOMBARD, IL </strong>(February 26, 2019) NAI Hiffman recently represented ownership in securing a new tenant at 747 East 22nd Street., in Lombard.</p><p>The U.S. General Services Administration awarded a long-term lease to landlord, 747 Properties LLC for a new government office location. GSA will occupy more than 70,000 square feet at the property.</p><p>The building at 747 East 22nd Street., recently rebranded as Aria Park Innovation Center, was acquired by a New York-based data center developer in 2016. Remaining space at the asset is available for lease ranging in size from 7,000 -- 20,000 square feet.</p><p>NAI Hiffman Executive Vice President Mike Van Zandt and Vice President Brian Edgerton represented owner 747 Properties, LLC in the transaction. GSA was represented by Executive Vice President Hugh Murphy and Analyst Alyssa Brooks, JLL.</p><p>"The building location and pricing were key considerations in GSA's selection of Aria Park Innovation Center, " said Edgerton. "The data center will provide premium communication infrastructure for all tenants considering the asset."</p><p><strong>About NAI Hiffman</strong></p><p>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, investment sales and capital markets representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages an 80+ million SF portfolio of over 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout the world, with 7,000+ local market professionals, handling over $20 billion in transaction value and managing 425+ million SF of property. For more information, please visit <a href="http://www.naihiffman.com" target="_blank">www.naihiffman.com</a>.</p><p>View <a href="https://www.dhbusinessledger.com/business/20190221/gsa-to-lease-space-in-lombard" target="_blank">Daily Herald DuPage Business Ledger</a> story.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=AG_al4At7xg:2ahxma2hSb8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 26 Feb 2019 17:49:37 Z NAI Hiffman GSA to lease space in Lombard https://www.hiffmanblog.com/blog/2019/2/26 2019-02-26 17:49 +00:00 2019-02-26 11:49 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c5def47eb39314e7f2a5e7b http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/0BB4oLPLolE/8 We are growing! <p>Join our award winning team! NAI Hiffman has the following exciting opportunities available in suburban Chicago and Cincinnati. Send us your resume today!</p><p><a href="mailto:resumes@hiffman.com" target="_blank">resumes@hiffman.com</a></p> <a href="https://www.hiffmanblog.com/s/NAI_Hiffman-Join-Our-Team.pdf" target="_blank"> <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c5dfd15ec212df2da03c559/1549663659948/wearegrowing.jpg" data-image-dimensions="1920x1080" data-image-focal-point="0.5,0.5" alt="wearegrowing.jpg" data-load="false" data-image-id="5c5dfd15ec212df2da03c559" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c5dfd15ec212df2da03c559/1549663659948/wearegrowing.jpg?format=1000w" /> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=0BB4oLPLolE:ndIvvq0eO-4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 08 Feb 2019 22:11:38 Z NAI Hiffman We are growing! https://www.hiffmanblog.com/blog/2019/2/8 2019-02-08 22:11 +00:00 2019-02-08 16:11 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c5c6eedb208fccb907a89dc http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/lntuLI-gxYM/7 REmark Research REmark: Class A/B Office Vacancy by Proximity to Chicago <p>NAI Hiffman Research set out to determine how vacancy rates were affected for Class A and Class B office properties based on proximity to the CBD submarket. The results were startling.</p><p>&nbsp;For more information, we invite you to review and share the latest edition of our REmark by clicking the link below.&nbsp; </p> <a href="https://www.hiffmanblog.com/s/NAI-Hiffman-REmark-Office-Vacancy-by-Proximity-to-Chicago.pdf" target="_blank"> <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c5c6f43ec212d4fd49942f2/1549561768491/REmark-Suburban+Office+Vacancy.jpg" data-image-dimensions="2500x2500" data-image-focal-point="0.5,0.5" alt="REmark-Suburban Office Vacancy.jpg" data-load="false" data-image-id="5c5c6f43ec212d4fd49942f2" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c5c6f43ec212d4fd49942f2/1549561768491/REmark-Suburban+Office+Vacancy.jpg?format=1000w" /> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=lntuLI-gxYM:WykZNhln-xw:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 07 Feb 2019 17:50:15 Z NAI Hiffman REmark: Class A/B Office Vacancy by Proximity to Chicago https://www.hiffmanblog.com/blog/2019/2/7 2019-02-07 17:50 +00:00 2019-02-07 11:50 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c58681bee6eb01b2aaa5fd3 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/ubczzYItQYM/4 NAI Hiffman merging with Nicolson, Porter & List, eyeing bigger industrial share <p><em>The merged company is seeking to grab a bigger slice of the Chicago area’s booming industrial market.</em> </p><p><strong>OAKBROOK TERRACE, IL</strong> (February 1, 2019) Industrial brokerage Nicolson, Porter &amp; List is merging with NAI Hiffman in a deal that could help the combined company grab a bigger share of the Chicago area’s booming industrial market.</p><p>Founded in 1910, NPL will be folded into NAI Hiffman, which is working to expand its Oakbrook Terrace headquarters to accommodate the new staff, said Michael Flynn, NAI’s chief operating officer.</p><p>The merger will be completed by March 1.</p><p>NAI Hiffman, established in 2000, is a commercial brokerage that works in the office, retail and industrial sectors. Among its listings are the sprawling former&nbsp;<a href="https://therealdeal.com/chicago/2018/04/19/somerset-plans-major-redevelopment-of-former-att-campus-report/" target="_blank">AT&amp;T campus</a>&nbsp;in Hoffman Estates, as well as a Fulton Market lot that was the&nbsp;<a href="https://therealdeal.com/chicago/2018/08/08/mab-capital-selling-site-of-once-planned-fulton-market-office-complex/" target="_blank">site</a>&nbsp;of MAB Capital Management’s now-scuttled office tower plan.</p><p>On the industrial side, NAI last year helped broker the deal that will allow Bridge Development partners to build more than&nbsp;<a href="https://therealdeal.com/chicago/2018/07/09/bridge-development-buys-33-acres-in-cicero-for-large-industrial-project/" target="_blank">500,000 square feet</a>&nbsp;of warehouse space on Chicago’s West Side.</p><p>The merger with NPL will help NAI grow its share in the industrial market, Flynn said. NPL works exclusively in the industrial sector and is currently handling leasing for 18 properties in some of the hottest submarkets in the area, according to its website.</p><p>“There’s robust activity in the in the industrial marketplace, and we’ve been able to grow our portfolio there,” Flynn said. “This gives us a chance to grow our market share in a growing sector.”</p><p>The merged company will give the former NPL brokers access to better technology and in-house services, Flynn said, which will help the firm grow. NPL lists six brokers on its website.</p><p>“We feel we have some outstanding industrial agents joining us,” Flynn said. “Our platform will help them elevate our business.”</p><p>NAI has 160 real estate professionals in 13 offices throughout the Midwest. It leases and manages a portfolio of more than 700 commercial properties in the area, according to its website. It is the local branch of New York-based NAI Global, which has offices in 400 markets throughout the world.</p><p>Chicago has one of the hottest industrial markets in the country. This summer saw industrial vacancy rates hit a&nbsp;<a href="https://therealdeal.com/chicago/2018/08/13/chicagos-industrial-market-reaches-highs-not-seen-in-a-decade%E2%80%A8/" target="_blank">17-year-low</a>. And third-quarter leasing activity for the sector was the&nbsp;<a href="https://therealdeal.com/chicago/2018/11/12/chicago-industrial-market-has-best-leasing-quarter-since-2015/" target="_blank">highest in three years</a>. Through three quarters, industrial investment sales were on track to&nbsp;<a href="https://therealdeal.com/chicago/2018/10/08/record-high-industrial-investment-sales-forecast-for-2018-report/" target="_blank">set a new record</a>&nbsp;for the Chicago market.</p><p><strong>&nbsp;About NAI Hiffman</strong></p><p>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, tenant representation, project management, capital markets and investment sales representation for owners and occupiers of commercial real estate in the metro Chicago market. It currently leases and manages a 80+ million SF portfolio of more than 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific.&nbsp;For more information, please visit&nbsp;www.naihiffman.com.</p><p>View <a href="https://therealdeal.com/chicago/2019/02/01/nai-hiffman-merging-with-nicolson-porter-list-eyeing-bigger-industrial-share/?utm_source=The+Real+Deal+E-Lerts&amp;utm_campaign=3ebf4cccab-New_York_Weekend_Update_11.19.2016_COPY_01&amp;utm_medium=email&amp;utm_term=0_6e806bb87a-3ebf4cccab-389696985" target="_blank">The Real Deal</a> story.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=ubczzYItQYM:NIVPBdcUfQ4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 04 Feb 2019 16:33:25 Z NAI Hiffman NAI Hiffman merging with Nicolson, Porter & List, eyeing bigger industrial share https://www.hiffmanblog.com/blog/2019/2/4 2019-02-04 16:33 +00:00 2019-02-04 10:33 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c5462f2971a1844cc2cf2e9 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/LvbQUoOEgNM/1 Medical Office NAI Hiffman’s Medical Services Team celebrates a year of leasing success at award-winning Salt Creek Medical Campus <p><strong>HINSDALE, IL</strong> (February 1, 2019) – NAI Hiffman is proud to recognize a remarkable year of leasing for Vice President Brian Edgerton, Executive Vice President&nbsp;Adam Johnson and Associate Tom Gnadt on behalf of owner MedProperties Group. The agency team completed five transactions totaling more than 22,000 square feet at the Hinsdale medical campus.</p><p>&nbsp;“From the Salt Creek Medical Campus’ proximity to the highly trafficked Ogden Avenue commercial corridor and the Greater Oak Brook area, to the excellent residential demographics that surround the site, our healthcare tenants have recognized the value of our location for the convenience of their patients,” commented Edgerton. Salt Creek Medical Campus consists of five medical buildings with immediate access to I-294 at Ogden Avenue. &nbsp;</p><p>&nbsp;In the largest of the transactions, Rogers Behavioral Health leased 11,110 square feet at 907 N Elm Street. This Hinsdale location provides specialized outpatient services for children, teens, and adults. Rogers was represented by Sylvia Van Loveren of Jones Lang LaSalle.</p><p>&nbsp;Advanced Pediatrics also signed a new lease for 1,739 square feet at 907 N Elm Street. The pediatrics practice was represented by Bill Lussow of Bespoke Commercial Real Estate. &nbsp;</p><p>&nbsp;Next, Modern Pain Consultants secured a lease for 4,731 square feet. With four locations across Chicagoland, Modern Pain Consultants in an interventional pain management practice that specializes in non-surgical, minimally invasive treatments. Kim Crisman of Charles Rutenburg Realty represented the tenant in the transaction. </p><p>&nbsp;With representation from NAI Hiffman Associate Ryan Maher, Concierge Medicine Partners leased space at 12 Salt Creek Lane. The membership-based medical practice will occupy 2,435 square feet at the property. </p><p>&nbsp;Finally, University of Chicago Medicine signed a new lease for 2,701 square feet at 12 Salt Creek Lane. This location will serve as a clinical location for an urogynecology and reconstructive pelvic surgery practice. The University of Chicago was represented by Jay Beadle and Andrew Davidson of MB Real Estate.</p><p>&nbsp;With these five leases completed, various spaces remain available amongst the three properties ranging from 630 to 5700 square feet. &nbsp;View the “Tour in 20” at <a href="https://www.youtube.com/watch?v=f-x09zEdQPE&amp;feature=youtu.be">907 N Elm Street</a> and <a href="https://www.youtube.com/watch?v=lafI1P-0HGA&amp;feature=youtu.be">12 Salt Creek Lane</a> for more information about availabilities at Salt Creek Medical Campus.</p><p>&nbsp;Healthcare Real Estate Insights™ magazine announced the Winners of the 2018 HREI Insights Awards™, the only national awards dedicated to recognizing excellence in the areas of healthcare real estate (HRE) development and the Salt Creek Medical Campus was given the award for the Best Renovated or Repurposed Healthcare Facility over four other finalists across the country. Link: <a href="http://wolfmediausa.com/2018/12/10/news-release-2018-hrei-insights-awards-winners-announced/">http://wolfmediausa.com/2018/12/10/news-release-2018-hrei-insights-awards-winners-announced/</a></p><p>&nbsp;<strong>About NAI Hiffman<br> </strong>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, investment sales and capital markets representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages an 80+ million SF portfolio of over 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout the world, with 7,000+ local market professionals, handling over $20 billion in transaction value and managing 425+ million SF of property. For more information, please visit&nbsp;<a href="http://www.naihiffman.com/">www.naihiffman.com</a>.</p><p>&nbsp;</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=LvbQUoOEgNM:hsmVJo0_zbA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 01 Feb 2019 17:35:24 Z NAI Hiffman NAI Hiffman’s Medical Services Team celebrates a year of leasing success at award-winning Salt Creek Medical Campus https://www.hiffmanblog.com/blog/2019/2/1 2019-02-01 17:35 +00:00 2019-02-01 11:35 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c4f59cfbba2236718192860 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/I5VgY1OBeIc/28-1 NAI Hiffman announced it will merge with industrial real estate firm Nicolson Porter & List <p><strong>OAKBROOK TERRACE, IL</strong> (January 28, 2019) —&nbsp; NAI Hiffman announced it will merge with industrial real estate firm Nicolson Porter &amp; List.</p><p>The combined company will operate as NAI Hiffman and expand its footprint at its Oakbrook Terrace headquarters to accommodate recent client and employee growth.</p><p>NPL is the oldest industrial real estate services provider in Chicago with a history dating back to 1910. It shares a similar independent ownership structure as NAI Hiffman and provides complementary service offerings based upon long-standing relationships serving private and institutional clients in the Chicago metropolitan market.</p><p>"The merger of our firms allows us to remain independent and deliver personal and adaptable services to our clients while remaining nimble," said NAI Hiffman CEO David Petersen.</p><p>NPL's President Paul Gearen added the combined teams will "bring more coverage, market intelligence, streamlined service offerings and expertise to our clients."</p><p>NAI Hiffman currently operates 13 locations throughout the Chicago Metropolitan area and the Midwest. Full integration of the merger will be completed by March 1.</p><p><strong>&nbsp;About NAI Hiffman</strong></p><p>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, tenant representation, project management, capital markets and investment sales representation for owners and occupiers of commercial real estate in the metro Chicago market. It currently leases and manages a 80+ million SF portfolio of more than 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific.&nbsp;For more information, please visit&nbsp;www.naihiffman.com.</p><p>View the <a href="https://www.dailyherald.com/business/20190128/npl-to-merge-with-nai-hiffman" target="_blank">Daily Herald.</a> story.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=I5VgY1OBeIc:uGHK0vhlNHQ:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 29 Jan 2019 15:56:25 Z NAI Hiffman NAI Hiffman announced it will merge with industrial real estate firm Nicolson Porter & List https://www.hiffmanblog.com/blog/2019/1/28-1 2019-01-29 15:56 +00:00 2019-01-29 09:56 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c4f513e8a922d4e313d89ab http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/-zmQG0Cn2pg/28 Brian Colson and Pat Hart negotiate lease deal on behalf of LBA Realty <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c4f519721c67cd91a84fff3/1548702139931/LinkedIn_Leased+6450+MuirfieldFNL.jpg" data-image-dimensions="2500x1307" data-image-focal-point="0.5,0.5" alt="LinkedIn_Leased 6450 MuirfieldFNL.jpg" data-load="false" data-image-id="5c4f519721c67cd91a84fff3" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c4f519721c67cd91a84fff3/1548702139931/LinkedIn_Leased+6450+MuirfieldFNL.jpg?format=1000w" /> <p>NAI Hiffman’s Brian Colson recently completed the sale of a 160,414 SF industrial property at 6450 Muirfield Road in Hanover Park. Brian Colson and Pat Hart were then hired to represent the new owner, LBA Realty, in leasing the property.&nbsp; Within 60 days of hire, Brian and Pat were able to negotiate a lease deal on behalf of LBA Realty.</p><p>&nbsp;Another example of our expertise in action. Another reason we are trusted to do what we say we will do.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=-zmQG0Cn2pg:l2u4bS8ZONs:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 28 Jan 2019 19:13:45 Z NAI Hiffman Brian Colson and Pat Hart negotiate lease deal on behalf of LBA Realty https://www.hiffmanblog.com/blog/2019/1/28 2019-01-28 19:13 +00:00 2019-01-28 13:13 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c45e07742bfc13b9f87bb17 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/rzCCWewNCwQ/21 NAI Hiffman announces industrial leader Steve Bass joins team as Senior Vice President <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c45fb136d2a73efe1e6fa72/1548090150135/Bass_Steven-Portrait-UPDATE.jpg" data-image-dimensions="1680x2240" data-image-focal-point="0.5,0.5" alt="Bass_Steven-Portrait-UPDATE.jpg" data-load="false" data-image-id="5c45fb136d2a73efe1e6fa72" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c45fb136d2a73efe1e6fa72/1548090150135/Bass_Steven-Portrait-UPDATE.jpg?format=1000w" /> <p><strong><em>OAKBROOK TERRACE, IL,</em></strong><em> (January 20, 2019) — NAI Hiffman announced that Steven D. Bass has joined the firm as senior vice president with the industrial services team. He brings nearly 20 years of experience representing local companies, corporate organizations and institutional owners in executing commercial real estate strategies throughout Chicagoland and nationally. </em></p><p><em>“NAI Hiffman provides an opportunity for me to represent my clients with best in class service featuring a market-leading platform that is constantly evolving and moving forward. I’m excited to be able to work alongside some of the top brokers in the business in an environment that encourages collaboration, provides tremendous support and inspires professional excellence and growth” said Bass.<br> &nbsp;<br> Prior to joining NAI Hiffman, Mr. Bass was an executive vice president with Lee &amp; Associates with an 11-year tenure at the firm. Throughout the span of his career, he has completed more than 250 industrial transactions with a transaction value in excess of $475 million on behalf of owners and occupiers. </em></p><p><em>&nbsp;“We set out to find the ideal candidate to supplement our market-leading industrial team and Steve Bass was the at the top of our list. “said Michael Flynn SIOR CCIM, Chief Operating Officer. “Based upon his client-focused approach, extensive market knowledge and outstanding brokerage skills, combined with his personal integrity and engaging personality he was the perfect choice to join our growing organization, culturally as well as professionally.” </em></p><p><em>&nbsp;Mr. Bass has represented many institutional clients providing asset leasing and marketing strategies including Stockbridge Capital Group, Venture One Real Estate, Exeter Property Group and Midwest Industrial Funds among others.&nbsp; His local and national industrial occupier clients have recently included Box Partners LLC, Maines Paper &amp; Food Service, Inc., Hydrox Laboratories, Retail First Corp., National Kitchen &amp; Bath Cabinetry, Inc., and Kabat American providing real estate strategy advice including relocation, expansion, disposition and consolidations. </em></p><p><em>&nbsp;Mr. Bass is currently marketing nearly 500,000 SF of industrial space on behalf of his clients and will continue his focus predominately in Kane County, the I-90 Corridor, North DuPage County and the Northwest industrial submarkets.&nbsp; Mr. Bass attended The University of Kansas in Lawrence, KS. </em></p><p><em>&nbsp;</em><strong><em>About NAI Hiffman</em></strong></p><p><em>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, tenant representation, project management, capital markets and investment sales representation for owners and occupiers of commercial real estate in the metro Chicago market. It currently leases and manages a 80+ million SF portfolio of more than 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, with more than 6,700 local market professionals managing more than 380 million square feet of property. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific.&nbsp;For more information, please visit&nbsp;</em><a href="http://www.naihiffman.com/" target="_blank"><em>www.naihiffman.com</em></a><em>.</em></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=rzCCWewNCwQ:jijkzAzvfaM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 21 Jan 2019 17:07:47 Z NAI Hiffman NAI Hiffman announces industrial leader Steve Bass joins team as Senior Vice President https://www.hiffmanblog.com/blog/2019/1/21 2019-01-21 17:07 +00:00 2019-01-21 11:07 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c3cf1652b6a28e8adb2f12e http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/rF07vNGcByc/11-4amx9-la9pe-kw6ps Research Market Peek Industrial Office Fourth Quarter 2018 Market Peek <html><head><title>Fourth Quarter 2018 Market Peek</title></head> <body rightmargin="0" leftmargin="0" topmargin="0"><meta name="x-apple-disable-message-reformatting"/>A First Look at Chicagoland Real Estate Statistics <table border="0" cellpadding="0" width="100%" cellspacing="0"><tr><td><img alt="" width="1" height="5" hspace="0" vspace="0" border="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td><td width="600" valign="top" align="center"><table border="0" cellpadding="0" width="100%" cellspacing="0"><tr><td valign="top" align="center"><font face="verdana,arial" size="1" color="#000000"><center><table bgcolor="#ffffff" width="595" id="VWPLINK"><tr><td colspan="1" rowspan="1" width="100%">Having trouble viewing this email? <a track="off" shape="rect" href="http://campaign.r20.constantcontact.com/render?m=1110957924043&amp;ca=a886fd4f-2f07-4878-9dab-347021c998a1" target="_blank">Click here </a></td></tr></table></center></font></td></tr></table></td><td><img alt="" width="1" height="5" hspace="0" vspace="0" border="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td></tr></table> <table border="0" bgcolor="#F1EDEE" cellpadding="0" width="100%" cellspacing="0" class="OuterBGColor"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Body"> <table border="0" cellpadding="0" width="100%" cellspacing="0" class="TopMarginBGColor"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center"> <table border="0" cellpadding="0" width="1" cellspacing="0" class="TopMarginWidth"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="TopMargin"> </td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="0" width="1" cellspacing="0" class="MainWidth"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="OuterBorderBGColor OuterBorder"> <table border="0" bgcolor="#FFFFFF" cellpadding="0" width="100%" cellspacing="0" class="InnerBGColor"> <tr> <td colspan="1" rowspan="1" valign="top" align="center"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="Top"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table></td> </tr> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="TopFullColumn"> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK3"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> Fourth Quarter 2018 Market Peek &nbsp; </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK4"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>NAI Hiffman is pleased to present the Fourth Quarter 2018 Market Peek, a first look at the market statistics for the Chicago metropolitan office and industrial real estate markets.</span> </td></tr></table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK5"><tr><td colspan="1" rowspan="1" valign="top" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" href="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018ticker.gif" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018ticker.gif" target="_blank"><img height="74" vspace="0" border="0" hspace="0" width="575" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018ticker.gif"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK7"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Industrial: Occupier Demand Remains Strong at Year End</span> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK8"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>Following last quarter's record of 32 facilities breaking ground in the Chicago market, 21 buildings broke ground in the fourth quarter totaling nearly 7.0 million square feet (msf). At year-end 2018, a total of 20.4 msf remained under construction with 15.8 msf to be built on a speculative basis. The overall vacancy rate continued to decline, however, to 5.87%, despite delivering 3.0 msf of speculative product over the last three months of the year.</li></ul> <ul><li>Net absorption totaled nearly 3.4 msf fourth quarter, with companies Handi Foil in Antioch (a 559,000-sf BTS), Expeditors International in Streamwood (424,000 sf), Kane is Abel in Lockport (372,000 sf), and Old World Industries in Bolingbrook (354,000 sf) all taking occupancy during the quarter. However, year-end absorption totaled 14.6 msf, 21.7% lower than the 18.6 msf reported at the end of 2017. Confidence in the industrial sector remains high, however, developers may slow speculative construction starts going into 2019.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK9"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" href="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Industrial.gif" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Industrial.gif" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Industrial.gif"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK11"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"><tr><td colspan="1" rowspan="1" class="mceSelected"><br/></td><td colspan="1" rowspan="1" class="mceSelected"> <strong><a track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/4Q2018/NAI-4Q18-Market-Statistics.pdf" linktype="1" alt="http://www.hiffman.net/CC/marketpeek/4Q2018/NAI-4Q18-Market-Statistics.pdf" target="_blank">DOWNLOAD INDUSTRIAL MARKET PEEK</a>&nbsp;</strong> </td><td colspan="1" rowspan="1"/></tr></table> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" class="ContentDividerPadding"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" bgcolor="#BDBDBD" rowspan="1" align="center" class="ContentDivider ContentDividerColor" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table> </td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK14"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Office: Suburbs and CBD Office Markets Close Out 2018 with Strong New Leasing Activity</span> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK15" class=""><tr><td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>SUBURBS</b> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK16"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>Due to increased market absorption, total overall vacancy in the suburbs decreased 38 basis points, to 18.2% in the fourth quarter. Notwithstanding this absorption, average asking rents among all classes of space decreased. Of greatest significance, Class A rates fell to $26.49 per square foot from a rate of $27.14 in the third quarter of 2018.</li></ul> <ul><li>Net absorption increased to 220,389 square feet in the fourth quarter, bringing the year-to-date total net absorption to 501,131 square feet. Leasing activity also outpaced the previous quarter by over 300,000 square feet. Total available space decreased 86 basis points from the previous quarter, to 23.1%. It is noteworthy to point out that Windham Lakes delivered 43,227 square feet to the I-55 Corridor in the fourth quarter, marking the first suburban speculative project since the economic recovery began.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK17"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" href="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Suburbs.gif" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Suburbs.gif" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Suburbs.gif"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK39"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>CBD</b> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK19"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul><li>Overall vacancy in the Central Business District increased 12 basis points over the third quarter, to measure 13.1%. Negative absorption continued into the fourth quarter, as 258,533 square feet returned to the market, however, leasing activity increased nearly 1.5 msf over the previous quarter. Class A asking rents increased to $43.08 in the fourth quarter, from $42.39 in the previous quarter.</li></ul> <ul><li>Nearly 5.2 msf of office space is under construction downtown, with most of the activity continuing to occur in the West Loop submarket. One notable construction project, 110 North Wacker, is over 45% pre-leased and will bring roughly 1.5 msf to the West Loop when complete. In the Central Loop, 145 South Wells will deliver 300,000 square feet of office space to the market with an expected completion date of third quarter 2019.</li></ul> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK20"><tr><td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br/> <a class="imgCaptionAnchor" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Downtown.gif" alt="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Downtown.gif" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/4Q2018/4Q2018-Downtown.gif"/></a></td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" src="http://img.constantcontact.com/letters/images/sys/S.gif"/></td> </tr> </table><table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK22"><tr><td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"><tr><td colspan="1" rowspan="1"><br/></td><td colspan="1" rowspan="1"> <strong><a track="on" shape="rect" href="http://www.Hiffman.net/CC/marketpeek/4Q2018/NAI--4Q18-Market-Statistics-Office.pdf" linktype="1" alt="http://www.Hiffman.net/CC/marketpeek/4Q2018/NAI--4Q18-Market-Statistics-Office.pdf" target="_blank">DOWNLOAD OFFICE MARKET PEEK&nbsp;</a></strong> </td><td colspan="1" rowspan="1"/></tr></table> </td></tr></table><table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Spacer" height="1"><img height="1" vspace="0" border="0" hspace="0" width="5" alt="" 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colspan="1" rowspan="1"> <span>For further information regarding the content of this market peek or if you are interested in attending a custom market overview presentation, please contact:</span> <br/> <strong>AMANDA ORTIZ&nbsp;</strong><br/> Director of Research 630-693-0645 aortiz@hiffman.com </td></tr></table> </td></tr></table></td> </tr> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="Middle"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" bgcolor="#F1EDEE" rowspan="1" valign="top" align="center" class="SideColumnBGColor"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tr> <td colspan="1" rowspan="1" width="100%" valign="middle" align="center" class="SideColumn"> </td> </tr> </table> <table border="0" cellpadding="0" width="1" cellspacing="0" class="SideColumnWidth"> <tr> <td colspan="1" rowspan="1" align="center"><img height="1" 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border="0" hspace="0" width="1" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif"/></td></tr></table> </td> </tr> </table> </body> </html><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=rF07vNGcByc:8A9uakv0X50:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 14 Jan 2019 20:37:47 Z NAI Hiffman Fourth Quarter 2018 Market Peek https://www.hiffmanblog.com/blog/2018/4/11-4amx9-la9pe-kw6ps 2019-01-14 20:37 +00:00 2019-01-14 14:37 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c34dc6e70a6adc5874d1409 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/z3-2Abc-EFQ/8 NAI Hiffman Represents Two Nonprofits in Lombard <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c34e21a4ae2377087cacb2c/1546969666715/Van+Reken%2C+Aubrey.jpg" data-image-dimensions="1500x2100" data-image-focal-point="0.5,0.5" alt="NAI Hiffman Vice President Aubrey Van Reken-Englund" data-load="false" data-image-id="5c34e21a4ae2377087cacb2c" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c34e21a4ae2377087cacb2c/1546969666715/Van+Reken%2C+Aubrey.jpg?format=1000w" /> <p>NAI Hiffman Vice President Aubrey Van Reken-Englund</p> <p>NAI Hiffman VP Aubrey Van Reken-Englund (above right) and associate Tabitha Dozier recently represented two nonprofits in the Chicagoland region. The two leases in Lombard, IL, within the East-West Corridor, totaled 18,700 square feet.</p><p>Northeastern Illinois Agency on Aging will be consolidating its two Illinois office locations, formerly in West Chicago and Kankakee, to a centralized corporate office at 1910 S. Highland Ave. in Lombard.</p><p>Reken-Englund and Dozier (lower right) assisted AOA in negotiations for a long-term lease for 8,800 square feet. Ryan Moen of Bradford Allen represented ownership, IHP Highland LLC.</p> <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c34e2ca70a6adc5874d833a/1546969818975/Dozier-Tabitha.jpg" data-image-dimensions="1680x2240" data-image-focal-point="0.5,0.5" alt="NAI Hiffman Associate Tabitha Dozier" data-load="false" data-image-id="5c34e2ca70a6adc5874d833a" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c34e2ca70a6adc5874d833a/1546969818975/Dozier-Tabitha.jpg?format=1000w" /> <p>NAI Hiffman Associate Tabitha Dozier</p> <p>DuPage Senior Citizens Council, a volunteer-based 501c3 organization providing Meals on Wheels among other programs to seniors in need, has expanded its service area throughout Kane and DuPage counties.</p><p>The NAI Hiffman team supported DSCC in doubling its footprint at the Oak Creek Office Complex; the nonprofit will now occupy 9,900 square feet at 1990 Springer Dr. in Lombard.</p><p><strong>About NAI Hiffman</strong></p><p>Comprised of more than 160 real estate professionals, NAI Hiffman provides leasing, management, investment sales and capital markets representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages an 80+ million SF portfolio of over 700 commercial properties throughout metropolitan Chicago, Northwest Indiana and Southeast Wisconsin. <br>NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout the world, with 7,000+ local market professionals, handling over $20 billion in transaction value and managing 425+ million SF of property. For more information, please visit&nbsp;<a href="http://www.naihiffman.com/">www.naihiffman.com</a>.</p><p>Originally featured by&nbsp;<a href="https://www.connect.media/nai-hiffman-represents-2-nonprofits-in-lombard/" target="_blank">Connect Media</a></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=z3-2Abc-EFQ:jWFn8zAw_W0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 08 Jan 2019 17:52:28 Z NAI Hiffman NAI Hiffman Represents Two Nonprofits in Lombard https://www.hiffmanblog.com/blog/2019/1/8 2019-01-08 17:52 +00:00 2019-01-08 11:52 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c2cf6be758d46566d20baed http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/QtQkjEBY544/2 A Year in Review: Chicago’s Office Market in 2018 <p>How did Chicago perform in the last 12 months in terms of office investment and what will 2019 bring? NAI Hiffman’s Executive Vice President Jason Wurtz evaluates the performance of the metro's office sector.</p> <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c2d0e398a922d883dc13f8c/1546456641574/edited.jpg" data-image-dimensions="1499x1356" data-image-focal-point="0.5,0.5" alt="edited.jpg" data-load="false" data-image-id="5c2d0e398a922d883dc13f8c" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c2d0e398a922d883dc13f8c/1546456641574/edited.jpg?format=1000w" /> <p>Chicago’s central business <a href="https://www.cpexecutive.com/post/hines-kicks-off-1-2-msf-salesforce-tower-chicago/" target="_blank">district remained in the spotlight</a> throughout 2018, as demand for office space boosted a series of large development and redevelopment projects, while corporations continued to relocate to the area. McDonald’s new headquarters, the renovation of the Old Main Post Office and Facebook’s lease at The John Buck Co.’s 151 N. Franklin St. were some of Chicago’s real estate highlights in 2018. </p><p>While the expected increase in property taxes and the stock market volatility may send some shock waves into the industry going forward, NAI Hiffman experts predict that the Chicago market will remain on a path of slow but steady growth. Executive Vice President Jason Wurtz told Commercial Property Executive that he anticipates investors to be a lot more active in the suburbs. The outer submarkets have been making a quiet comeback, Wurtz says, with almost $1.4 billion in office property sales in 2018 and leasing activity similar to that in the CBD.&nbsp; </p><p><strong>What have been the main challenges that Chicago office investors had to overcome this year? </strong></p><p><strong>Wurtz: </strong>In the suburban market, office investors interested in acquiring value-add assets are struggling to find them. Meanwhile, investors who are usually targeting the core areas have yet to gain confidence in the suburban marketplace. Many have focused on hot growth markets like Houston and Nashville instead of revisiting our suburbs, especially after getting priced out of Chicago’s CBD. </p><p><strong>What surprised you the most about the market in the past 12 months? </strong></p><p><strong>Wurtz:</strong> The suburbs will cap off the year with almost $1.4 billion in office sale transactions. This is a staggering figure compared to previous years and may help build more confidence in the depth of the Chicago suburban owners. The last quarter witnessed three significant sales in three different suburban submarkets. In the Northwest City submarket, Continental Towers was sold to CT Acquisitions—a partnership between Philadelphia-based Rubenstein Partners and Chicago-based GlenStar—for $121.5 million or $143 per square foot. In the East-West Corridor, Group RMC bought Executive Towers from The Blackstone Group for $84 million or $120 per square foot. Finally, in the O’Hare submarket, Triangle Plaza was sold to The Shidler Group for $141 million or $222 per square foot.</p><p><strong>What has been on top of tenant preferences in terms of amenities and location in 2018?</strong></p><p><strong>Wurtz: </strong>Employee environment is more important than ever before. With the unemployment rate in the Chicago metro area at 3.6 percent, the demand to attract and retain employees—especially the Millennial workforce—has become a major part of decision making for corporate executives. There has been an evolution from a “check-the-box” mentality, which implied the simple presence of cafés, after-hours grab-and-go stations, fitness centers and tenant lounges. Instead, the quality of each of these amenities are now the differentiator and recruiting tool for many users. Owners of B+ and better buildings need to offer some differentiating social spaces in addition to the tenant-specific amenities of any size for a quick breakaway, meeting or team collaboration as the need for an out-of-office experience has become more essential than in the past.</p><p>Amenities have become an extension of the tenant workspace, and landlords who want to retain and attract tenants will benefit from making technology investments and creating innovative common areas to stay relevant and compete.&nbsp;&nbsp; </p><p><strong>How have the suburbs tried to attract tenants in 2018 and what more can suburban landlords do going forward? </strong></p><p><strong>&nbsp;Wurtz: </strong>The flight of tenants to the city is a non-issue and seems to be exaggerated in the market. While there have been corporate companies moving downtown that have gained major attention like AT&amp;T, McDonald’s and Kraft, to name a few, what gets excluded from the press is the major portion or growth of some companies that remain in the suburbs. The suburban office market is strong. On a macro level, there seems to be much less visibility and press related to major commitments in the Chicago suburbs like United Airlines committing to 160,000 square feet in Arlington Heights or AbbVie acquiring its 500,000-square-foot office building in Lake County. </p><p>At the end of the third quarter, the suburbs had approximately 1.6 million square feet of new leasing activity compared to 2 million in the city. I imagine many investors do not realize activity would be that comparable. Projects that remain relevant or have been repositioned have experienced great success in recent years. Some basics of real estate location still apply, and a good product base with immediate local amenities, good access to highways and decent proximity to public transportation options have all seen and capitalized on the bulk of the market activity. </p><p><strong>&nbsp;How do you expect the growing property taxes to impact Chicago’s office market during the next quarters?</strong></p><p><strong>&nbsp;Wurtz:</strong> There are going to be several repercussions, but one of the most impactful will be those tenants coming off long-term leases that may not only get priced out of the area due to increased commercial taxes, but also the rent increases they will be facing. With the recent election of Governor Pritzker, property taxes, income taxes, minimum wage and health care are all on the table to be impacted by the new leadership in Illinois.</p><p><strong>On a scale from 1 to 10, what grade would you give the Chicago office market for the year and why? </strong></p><p><strong>&nbsp;Wurtz:</strong> I would provide it a 7.5.&nbsp; I think the suburban office market still has a story of the “haves and have nots.” While a big portion of the market is doing extremely well and seeing absorption and rent growth, the obsolete product continues to weigh down the market statistics. The migration of the large suburban tenants to downtown locations in the last years has caused an increase in suburban Class A vacancy.</p><p>&nbsp;As such, the availability of suburban Class A office spaces of 50,000 square feet and greater has increased nearly 10 percent since 2013. This increase in available Class A space has been favorable to tenants in the market as landlords have offered more competitive tenant improvement packages, abatement and other concessions in order to fill out these premier spaces.</p><p><strong>&nbsp;What are the trends to watch in 2019? </strong></p><p><strong>&nbsp;Wurtz: </strong>The current trends will continue and will likely accelerate as owners invest in amenities and tenants demand smart workspaces. We predict slow and steady growth on occupancy and rental rates for properties which have the amenities and resources to compete effectively in the marketplace for tenants. I cannot predict any unforeseen demand challenges but I also don’t feel the recent trajectory of the suburban office market warrants any significant correction or change. On a macro level, the U.S. Treasury’s yield curve recently inverted for the first time in more than a decade, which has some investors concerned that another recession is possible. While imminent change isn’t likely, it is an indication that some uncertainty exists in the market for owners and tenants alike.</p><p>For more information, please visit <a href="http://www.naihiffman.com." target="_blank">www.naihiffman.com.</a></p><p>Originally featured in <a href="https://www.cpexecutive.com/post/a-year-in-review-chicagos-office-market-in-2018/" target="_blank">Commercial Property Executive</a></p><p data-rte-preserve-empty="true"></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=QtQkjEBY544:HOd49wcAZ6Q:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 02 Jan 2019 18:04:47 Z NAI Hiffman A Year in Review: Chicago’s Office Market in 2018 https://www.hiffmanblog.com/blog/2019/1/2 2019-01-02 18:04 +00:00 2019-01-02 12:04 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5c1bb48cc2241b9389b7f571 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/8gNxihncbFk/20 REmark: Industrial Building Age and Vacancy Rate <p>Industrial construction has changed greatly in the course of the last 20 years. Buildings are getting larger, and building specifications have changed to meet the needs of today’s modern industrial user.</p><p>NAI Hiffman Research took a look at those changes and, interestingly, this edition of our REmark illustrates the construction changes, as well as the vacancy levels for buildings built in each decade.</p> <a href="https://www.hiffmanblog.com/s/NAI_Hiffman_REmark_122018.pdf" target="_blank"> <img class="thumb-image" data-image="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c1bc7ba2b6a28ddecfa209c/1545324507448/NAI_Hiffman_REmark_122018.jpg" data-image-dimensions="2500x2721" data-image-focal-point="0.5,0.5" alt="NAI_Hiffman_REmark_122018.jpg" data-load="false" data-image-id="5c1bc7ba2b6a28ddecfa209c" data-type="image" src="https://static1.squarespace.com/static/50b4f61de4b0699441ebf315/t/5c1bc7ba2b6a28ddecfa209c/1545324507448/NAI_Hiffman_REmark_122018.jpg?format=1000w" /> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=8gNxihncbFk:C-op4pJPK98:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 20 Dec 2018 16:48:31 Z NAI Hiffman REmark: Industrial Building Age and Vacancy Rate https://www.hiffmanblog.com/blog/2018/12/20 2018-12-20 16:48 +00:00 2018-12-20 10:48 -06:00