Company News 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d264957eb582b00011b6b11 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/QftIe0Ywq5M/11-4amx9-la9pe-kw6ps-7b85y-6adls Research Market Peek Industrial Office Second Quarter 2019 Market Peek <html><head><title>Second Quarter 2019 Market Peek</title></head><br /> <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></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"> Second 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 Second 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" href="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q2019ticker.gif" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q2019ticker.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/2Q2019/2Q2019ticker.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 Absorption Increased 45.5 Percent Year-Over-Year</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>Year-over-year net absorption increased 45.5 percent over mid-year 2018 and totaled nearly 10.7 million square feet (msf) year-to-date. Second quarter 2019 absorption of 6.5 msf also marks a 56.8 percent increase over the 4.1 msf recorded last quarter. The largest quarterly increases occurred in the I-55 Corridor and Southeast Wisconsin submarkets where nine companies took occupancy of spaces larger than 100,000 square feet (sf) and totaled nearly 2.8 msf during the quarter.</li></ul> <ul><li>Nearly 9.6 msf of new leasing activity was signed during the second quarter, on par with the 9.8 msf signed during the previous quarter. A total of 50 new leases were signed greater than 50,000 sf during the second quarter alone, further solidifying forecasts suggesting healthy market fundamentals will continue through the remainder of the year.</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/2Q2019/2Q2019-Industrial.jpg" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q2019-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/2Q2019/2Q2019-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" shape="rect" href="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q19_Market_Statistics_Industrial.pdf" linktype="1" alt="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q19_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: Class A Space Posts Positive Absorption in the Suburbs at Mid-Year; Net Absorption in the West Loop Continues to Thrive</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 suburban overall vacancy rate increased a nominal 15 basis points from the 18.55 percent recorded during the first quarter to measure 18.70% mid-year 2019. Class A average asking rents increased slightly to $26.85 per square foot (psf) over the $26.66 psf recorded in the previous quarter.</li></ul> <ul><li>Net absorption was positive during the second quarter and totaled 35,120 sf. Class A space contributed 128,522 sf of positive absorption, while Class B and Class C spaces didn't fare as well and posted negative totals. Companies taking occupancy during the second quarter included UHAUL moving into the former Verizon space in Elgin (127,000 sf), Baxter Credit Union moving to Vernon Hills (75,000 sf), and Intelligent Medical Products moving into the O'Hare Gateway Office Center in Rosemont (44,000 sf).</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/2Q2019/2Q2019-Suburbs.jpg" shape="rect" alt="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q2019-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/2Q2019/2Q2019-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>Positive absorption was recorded for the second consecutive quarter, largely due to continued activity in the West Loop. Companies including Benesch, Friedlander, Copland & Aronoff, LLP (63,000 sf), Holland & Knight (57,000 sf), Home Partners (38,000 sf) and Andersen Tax (32,000 sf) all took occupancy in the West Loop during the quarter.</li></ul> <ul><li>The overall vacancy rate in the Central Business District (CBD) decreased 59 basis points from the first quarter, to measure 12.24% second quarter. Class A asking rents increased to $44.13 psf in the second quarter, up from $43.81 psf in the previous quarter. Nearly 5.7 msf of office space remains under construction downtown, including The Old Main Post Office located at 433 W Van Buren, where Uber is considering a substantial lease of nearly 450,000 sf.</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/2Q2019/2Q2019-Downtown.jpg" alt="http://www.hiffman.net/CC/marketpeek/2Q2019/2Q2019-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/2Q2019/2Q2019-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" shape="rect" href="http://www.Hiffman.net/CC/marketpeek/2Q2019/2Q19_Market_Statistics_Office.pdf" linktype="1" alt="http://www.Hiffman.net/CC/marketpeek/2Q2019/2Q19_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" 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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=QftIe0Ywq5M:-UUwLZGJpBE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 11 Jul 2019 16:38:40 Z NAI Hiffman Second Quarter 2019 Market Peek https://www.hiffmanblog.com/blog/2018/4/11-4amx9-la9pe-kw6ps-7b85y-6adls 2019-07-11 16:38 +00:00 2019-07-11 11:38 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d1294618b4b350001d411c7 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/mrMdFTxcSgs/25-1 Who’s got their finger on the pulse of healthcare real estate? <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561498838061-06F86U2CDK7CJ7VLCDUJ/ke17ZwdGBToddI8pDm48kOocMVHn_EhdzBd98Ua0kKoUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcqsaN3lDPuiJY9jVUqMfidXvaWl335P4-mEpC0O9atR3YIUiSUFpf_6jCSI8aNz-A/HCRE.jpg" data-image-dimensions="1000x599" data-image-focal-point="0.5,0.5" alt="HCRE.jpg" data-load="false" data-image-id="5d1294d41210bb0001e62edf" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561498838061-06F86U2CDK7CJ7VLCDUJ/ke17ZwdGBToddI8pDm48kOocMVHn_EhdzBd98Ua0kKoUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKcqsaN3lDPuiJY9jVUqMfidXvaWl335P4-mEpC0O9atR3YIUiSUFpf_6jCSI8aNz-A/HCRE.jpg?format=1000w" /> <p class="">The healthcare real estate sector has changed strikingly in the last decade, driven by aging demographics and increased ambition to deliver services outside of acute care settings. Over the next 10 years, the asset class will likely see even more drastic changes.</p><p class="">More than 120 Chicago CRE professionals came out to the 6th annual Healthcare &amp; Medical Office Conference yesterday, hosted by REjournals. There were two panel discussions: the first gave the view from 30,000 feet at the state of the healthcare market while the second panel dove in on segmented solutions in healthcare and medical office buildings.</p><p class=""><strong>The state of the market</strong></p><p class="">Moderated by Mary Ann Murray, partner,&nbsp;<a href="https://www.quarles.com/"><strong>Quarles &amp; Brady LLP</strong></a>, much of the discussion from the first collection of panelists focused on the steady creep of healthcare real estate from institutional locations and out into the communities where people live and work.</p><p class="">As part of the overall American economy, healthcare spending grew 3.9 percent in 2017, according to the U.S. Centers for Medicare &amp; Medicaid Services, reaching $3.5 trillion, which equates to $10,739 per person or 17.9 percent of the nation’s GDP. This, said Chantily Malibago, director of real estate development – healthcare at&nbsp;<a href="https://www.mortenson.com/"><strong>Mortenson</strong></a>, is untenable.</p><p class="">“Data collection, the consumer experience and advancements in technology; these are the three pillars of improving the country’s healthcare,” Malibago said.</p><p class="">As everyone already carries a smart phone and more people adopt activity trackers and other wearables, the ability to deliver, monitor and manage care is becoming ever more personal. This is reflected in healthcare real estate, as the sector’s retailization and move out into the communities has only quickened in recent years.</p><p class="">“With retail development going down, more people are looking for new opportunities to invest and develope. That’s where healthcare comes in,” said Mike O’Keefe, managing director,&nbsp;<a href="https://ankura.com/"><strong>Ankura</strong></a>. “The state of healthcare is strong as we see a lot of new entrants to the market.”</p><p class="">A common statistic that gets bandied about is that every day, 10,000 baby boomers turn 65 years old. With old age comes more need for healthcare, so the industry has been catering to the nation’s largest generation for years. But according to population projections from the U.S. Census Bureau, millennials should surpass boomers as the largest adult population sometime this year.</p><p class="">According to Brian Edgerton, vice president with&nbsp;<a href="https://www.rejournals.com/www.naihiffman.com"><strong>NAI Hiffman</strong></a>, this means that the healthcare industry is going to have to stay nimble enough to serve this group as well.</p><p class="">“They will use the system differently, Edgerton said. “The millennials are starting to create families, which means more OB-GYN visits, more pediatric visits. They are also more likely to shop for healthcare online, comparing prices and reading reviews to make healthcare decisions.”</p><p class="">Edgerton also pointed out that Illinois legislation prohibits new hospital developments with fewer than 100 beds. This needs to change, he believes, to accommodate the trend of micro-hospitals that can better serve rural areas and small communities. “Who knows if certain failing hospitals would have had a better shot if they could have downsized to a more efficient model?” he said.</p><p class="">Brian Howard, president of&nbsp;<a href="http://www.stageequity.com/index.html"><strong>Stage Equity Partners, LLC</strong></a>, pointed out that for general real estate, southern states, particularly the southeast like Florida and Georgia, are driving the boom. But the noted population loss that Illinois has suffered in the last few years isn’t quite as harrowing as it at first seems.</p><p class="">“The top academic and research institutions are here and in the northeast. A good amount of people who live in those hot, southern markets—when they get sick, they come here,” Howard said. “Yes, we’re losing population, but things are better if you own real estate aligned with top health systems or physician groups. I think the future of our industry is still robust.”</p><p class="">Dave Arnold, executive vice president,&nbsp;<a href="https://www.irgens.com/"><strong>Irgens</strong></a>, has seen a shift in how physician groups are operating when it comes to their real estate. It used to be that as doctors approached retirement age, they would sell their share of the practice to their younger colleagues. But today’s young physicians are less willing to take on those risks.</p><p class="">“They would rather have the opportunity to locate in an ideal location and drive their own strategy and not use capital that only returns 9 percent when the opportunity costs are much higher,” Arnold said. “Most are looking to leverage growth by using third party capital.”</p><p class=""><strong>Healthcare and MOB solutions</strong></p><p class="">Peter Locke, healthcare and laboratory outreach for&nbsp;<a href="https://www.comed.com/News/Pages/NewsReleases/2016_10_18.aspx"><strong>ComEd Energy Efficiency</strong></a>, moderated the second panel discussion, which examined in detail the latest design, financing and other trends for healthcare real estate.</p><p class="">Jonathan Swindle, founder and president of&nbsp;<a href="http://www.wavelandprop.com/"><strong>Waveland Property Group</strong></a>, discussed the challenges that healthcare facilities have over other real estate assets when it comes to property management.</p><p class="">“One of the biggest concerns we have is liability,” said Swindle. “How confident can you be that all life safety elements are being uniformly inspected, especially because all the different groups looking at elevators and fire extinguishers and everything else are segmented? We have more technological tools at our disposal now, so there’s no excuse to be stuck in the 1950s.”</p><p class="">One of the most promising techniques to building modern healthcare facilities is the evolution in modular construction. Jenny Han, director of healthcare design at&nbsp;<a href="https://www.skender.com/"><strong>Skender</strong></a>, explained that modularity in healthcare has been around for a while with, for example, certain bed wall casings and bathroom pods. But the endeavor that her firm is taking with its new modular manufacturing facility takes that concept to the next level.</p><p class="">“If you do an exam room, you can be 95 percent complete, depending on furnishing,” Han said. “You could have a TV on wall or furniture built into a room. It’s all done and shows up on site as a slide-in box.”</p><p class="">Patrice Marks, senior director, executive vice president at&nbsp;<a href="https://www.kwcommercial.com/"><strong>Keller Williams Commercial Real Estate</strong></a>, provided a landlord perspective. One thing she’s seen are doctor groups asking for flex space within their buildings to use as educational space to provide classes to the community. She has also seen physician groups asking for, and getting, shorter lease terms.</p><p class="">“The good news is that once the tenant is there, they tend to renew,” Marks said. “The bad news is, when the owner goes to sell, investors see these shorter leases and offer less.”</p><p class="">Locke asked the panel if sustainability is a driving force in healthcare design. Are clients coming to them requesting energy-efficient or other environmentally friendly features, or do they have to encourage the client to invest in these strategies?</p><p class="">“We recognize that flexibility is important to borrowers, and we want to find solutions,” said Katelyn Girod, assistant vice president,&nbsp;<a href="https://www.capitalone.com/commercial/healthcare/"><strong>Capital One Healthcare</strong></a>. “One thing we’ve seen, though not necessarily in Illinois, are requests for PACE [property assessed clean energy] financing on ground-up construction. They are state to state programs and we’ve seen them in California and Texas, but not really in Illinois.”</p><p class="">One thing is clear: the world of healthcare real estate remains a dynamic one, and the years ahead are likely to see wild changes, in Chicago and across the country.</p><p class="">As seen at <a href="https://www.rejournals.com/who%E2%80%99s-got-their-finger-on-the-pulse-of-healthcare-real-estate-20190621" target="_blank">www.REJournals.com</a></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=mrMdFTxcSgs:vwNX4VP8_rE:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 25 Jun 2019 21:41:03 Z NAI Hiffman Who’s got their finger on the pulse of healthcare real estate? https://www.hiffmanblog.com/blog/2019/6/25-1 2019-06-25 21:41 +00:00 2019-06-25 16:41 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d124fed8b4b350001d362b1 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/9mFreZhOjzs/25 More tenants coming to DuPage Business Center in West Chicago <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561482182993-GHB5DB16A3709JW2MCTO/ke17ZwdGBToddI8pDm48kOCnfmrt-yxbA-Erl8WLu5ZZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIJI7zBc5hffVIBNgPiEGlVkp43Hr6ONn_SlQnfveU6tMKMshLAGzx4R3EDFOm1kBS/dbc.jpg" data-image-dimensions="895x481" data-image-focal-point="0.5,0.5" alt="dbc.jpg" data-load="false" data-image-id="5d1253c6709f1900010579de" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561482182993-GHB5DB16A3709JW2MCTO/ke17ZwdGBToddI8pDm48kOCnfmrt-yxbA-Erl8WLu5ZZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIJI7zBc5hffVIBNgPiEGlVkp43Hr6ONn_SlQnfveU6tMKMshLAGzx4R3EDFOm1kBS/dbc.jpg?format=1000w" /> <p class="">A growing number of projects are coming to a business park in West Chicago that long struggled to attract tenants.</p><p class="">Oak Brook-based Midwest Industrial Funds recently broke ground on a roughly 300,000-square-foot building in the DuPage Business Center south of Roosevelt Road. When it's completed in the fall, the facility will be suitable for distribution, assembly and manufacturing uses.</p><p class="">"We were attracted to the centralized DuPage County location, the high-quality existing business park, and the strong and diverse nearby labor force," Justin Fierz, a principal with Midwest Industrial Funds, said in a statement.</p><p class="">It's one of seven projects that are under construction or planned for the 800-acre business park, which is owned by the DuPage Airport Authority.</p><p class="">"I can't tell you how excited we are with the progress that's been made," said Stephen Davis, chairman of the DuPage Airport Authority Board.</p><p class="">Originally dubbed the DuPage National Technology Park, the site was envisioned for high-tech businesses. State officials had so much faith in the plan that the Department of Commerce and Economic Opportunity awarded a $34 million grant for roads, utilities and landscaping.</p><p class="">But the property remained largely vacant for years. Davis said several factors, including the recession, "made it very difficult for us to get anything going there."</p><p class="">That changed when the airport formed a partnership with West Chicago and NAI Hiffman, the commercial real estate firm marketing the business center.</p><p class="">With a good team and a stronger economy, Davis said, "amazing things have happened."</p><p class="">Three of the projects were announced last fall, including a 782,000-square-foot building that's being constructed near the intersection of Technology Boulevard and Fabyan Parkway.</p><p class="">That building, expected to be completed next month, will be occupied by Suncast Corp. The Batavia-based company, which manufactures custom wood structures and resin products, plans to replace a warehouse in Montgomery with the warehouse, distribution and showroom facility. </p><p class="">The other projects announced last fall are for Norix Group, Inc. and Greco and Sons, Inc.</p><p class="">Norix Group, which makes commercial furniture, decided to stay in West Chicago and construct a 200,000-square-foot global headquarters. Greco and Sons, an Italian foods distribution company based in Bartlett, plans to build a food processing and warehouse center.</p><p class="">Last week, airport officials revealed that Scannell Properties is planning to construct a 250,000-square-foot warehouse and distribution building. The Indianpolis-based real estate developer already has purchased roughly 21 acres with the option to acquire an additional 18.</p><p class="">Two other yet-to-be-named projects also are planned. One would be a warehouse and distribution facility on 25 acres; the other would be a distribution center on nearly 24 acres.</p><p class="">Since last July, nearly 147 acres of the business park's roughly 450 buildable acres have been sold. In addition, roughly 124 acres are under contract or under option.</p><p class="">Revenue stemming from the transactions is allocated toward FAA-mandated upgrades at the airport.</p><p class="">"These funds will be used to keep it a world-class airport," Davis said.</p><p class="">In addition, Davis said the facilities planned for the business park are projected to create more than 1,000 permanent jobs.</p><p class="">"I'm really pleased that we can help spur economic growth," Davis said, "because the whole county benefits when we're able to do that."</p><p class="">As seen at <a href="https://www.dailyherald.com/business/20190624/more-tenants-coming-to-dupage-business-center-in-west-chicago" target="_blank">www.dailyherald.com</a></p><p class="">&nbsp;</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=9mFreZhOjzs:mpqWIULUlo0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 25 Jun 2019 17:03:30 Z NAI Hiffman More tenants coming to DuPage Business Center in West Chicago https://www.hiffmanblog.com/blog/2019/6/25 2019-06-25 17:03 +00:00 2019-06-25 12:03 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d0d291a71bbf80001b4d8e7 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/rLNjX8TU0rc/21 A Morning wtih Cook County Assessor, Fritz Kaegi <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561143672406-5NRKTOI5HSACQ5J3PXEY/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/IMG_0757.JPG" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="IMG_0757.JPG" data-load="false" data-image-id="5d0d293671bbf80001b4d8ff" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1561143672406-5NRKTOI5HSACQ5J3PXEY/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/IMG_0757.JPG?format=1000w" /> <p class="">NAI Hiffman was honored to host a morning discussion with Cook County Assessor, Fritz Kaegi, on Wednesday, June 19. The event was held at Hamburger University Conference Center on the former McDonald’s Campus in Oak Brook, Illinois. NAI Hiffman’s <a href="https://www.linkedin.com/in/ACoAAAEIZPwB5e4NIUkHfWp372RUPkzAxRxj5Ro/" target="_self"><strong>Chris Gary</strong></a> moderated the forum. The event provided valuable insight into personnel updates, process changes and what’s next for the <a href="https://www.linkedin.com/company/cookcountyassessorsoffice/" target="_blank">Office of the Cook County Assessor.</a></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=rLNjX8TU0rc:MA3IkCE9WrM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 21 Jun 2019 19:02:26 Z NAI Hiffman A Morning wtih Cook County Assessor, Fritz Kaegi https://www.hiffmanblog.com/blog/2019/6/21 2019-06-21 19:02 +00:00 2019-06-21 14:02 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d0a7184c58a1e000133a868 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/dIHBglb_xq8/19 Paws for Logistics with Adam Roth and Brody <p class="">Adam Roth comments on the recent ELD mandate in trucking with Brody from Second City Canine Rescue. For more information on how transportation drives real estate connect with <a href="mailto:aroth@hiffman.com">Adam Roth.</a> For more information about adopting a rescue pup like Brody contact <a href="http://sccrescue.org" target="_blank">Second City Canine Rescue.</a></p><p class="">A special thank you to IDI Logistics for the use of 1150 West 115th Street in Bolingbrook, Illinois.</p><iframe scrolling="no" allowfullscreen="" src="//www.youtube.com/embed/5mEr-UkAbVg?wmode=opaque&amp;enablejsapi=1" width="854" frameborder="0" height="480"> </iframe><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=dIHBglb_xq8:XLiD2Abb76c:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 19 Jun 2019 17:41:49 Z NAI Hiffman Paws for Logistics with Adam Roth and Brody https://www.hiffmanblog.com/blog/2019/6/19 2019-06-19 17:41 +00:00 2019-06-19 12:41 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5cfab4e5eab80c0001c78be0 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/y3ZJGTZcXUk/7 REmark: Industrial Absorption and New Construction 2014-2019 <p class="">In this edition of NAI Hiffman’s REmark our research team examines industrial absorption and new construction over the last five years. We found demand for industrial product remains elevated today, driven by a company’s need to remain competitive and responsive to evolving consumer needs.</p><p class="">&nbsp;Click the image below to download the full report.</p> <a class="content-fill" href="https://www.hiffmanblog.com/s/NAI-Hiffman-REmark-Absorption-New-Construction.pdf" target="_blank"> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1559934246974-WFAP0MBOLLD4A1KRPOU0/ke17ZwdGBToddI8pDm48kNiEM88mrzHRsd1mQ3bxVct7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0s0XaMNjCqAzRibjnE_wBlkZ2axuMlPfqFLWy-3Tjp4nKScCHg1XF4aLsQJlo6oYbA/NAI+Hiffman+-REmark-Construction+-+Absorption_Page_1.jpg" data-image-dimensions="2500x2500" data-image-focal-point="0.5,0.5" alt="NAI Hiffman -REmark-Construction - Absorption_Page_1.jpg" data-load="false" data-image-id="5cfab5239bd5b6000124b365" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1559934246974-WFAP0MBOLLD4A1KRPOU0/ke17ZwdGBToddI8pDm48kNiEM88mrzHRsd1mQ3bxVct7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0s0XaMNjCqAzRibjnE_wBlkZ2axuMlPfqFLWy-3Tjp4nKScCHg1XF4aLsQJlo6oYbA/NAI+Hiffman+-REmark-Construction+-+Absorption_Page_1.jpg?format=1000w" /><br> </a> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1559934247072-4NKH3JGNJNBZJ5LD5HRT/ke17ZwdGBToddI8pDm48kNiEM88mrzHRsd1mQ3bxVct7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0s0XaMNjCqAzRibjnE_wBlkZ2axuMlPfqFLWy-3Tjp4nKScCHg1XF4aLsQJlo6oYbA/NAI+Hiffman+-REmark-Construction+-+Absorption_Page_2.jpg" data-image-dimensions="2500x2500" data-image-focal-point="0.5,0.5" alt="NAI Hiffman -REmark-Construction - Absorption_Page_2.jpg" data-load="false" data-image-id="5cfab523de0a84000112864e" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1559934247072-4NKH3JGNJNBZJ5LD5HRT/ke17ZwdGBToddI8pDm48kNiEM88mrzHRsd1mQ3bxVct7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0s0XaMNjCqAzRibjnE_wBlkZ2axuMlPfqFLWy-3Tjp4nKScCHg1XF4aLsQJlo6oYbA/NAI+Hiffman+-REmark-Construction+-+Absorption_Page_2.jpg?format=1000w" /><br><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=y3ZJGTZcXUk:C7quc_a5ZOc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 07 Jun 2019 19:10:39 Z NAI Hiffman REmark: Industrial Absorption and New Construction 2014-2019 https://www.hiffmanblog.com/blog/2019/6/7 2019-06-07 19:10 +00:00 2019-06-07 14:10 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5ceed8b5e4966b9921b9124a http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/WONnCzJ4RFg/29 NAI Hiffman marketing 157 acres in West Dundee for development <p class=""><a href="http://www.naihiffman.com/"><strong>NAI Hiffman</strong></a>&nbsp;is marketing Canterfield Corporate Campus, a newly established, 157-acre business park located at the Northeast corner of Route 31 and Interstate 90 in West Dundee, Illinois. Ready for development, the land is owned by the Haeger-Estes family, whose Kane County heritage includes the ceramic manufacturing company&nbsp;<a href="http://www.haegerpotteries.com/haeger.php%3Fsection_id=3.html"><strong>Haeger Potteries</strong></a>.</p><p class="">“The family’s vision for the project is to maintain the rich history and heritage of this beautiful property while simultaneously unlocking its development potential.” said David Haigh, NAI Hiffman executive vice president. “There is nothing like it in the marketplace; it is a 157-acre opportunity on a full interchange just outside of Cook County. This development potential combined with a 25-mile drive to O’Hare International Airport is ideal for various user types.”</p><p class="">Ownership has worked with the village of West Dundee on the entitlement process and has procured TIF incentives to provide companies with a pro-growth business environment. “The natural environment will be respected at Canterfield,” said Lexy Haeger-Estes. “Our master-plan is built on a foundation of sustainability and will include integrated pedestrian, equestrian and bicycle path systems for employees and local residents.”</p><p class="">Parcels for development vary in size and are currently available for purchase. The areas adjacent to the Fox River are situated on a natural bluff and provide beautiful views of the water and of the McGraw Wildlife Preserve. Craig Zachrich, Haeger-Estes’ husband and architect by profession, has led the design team by retaining&nbsp;<a href="https://www.heitmanarchitects.com/"><strong>Heitman Architects</strong></a>&nbsp;and&nbsp;<a href="https://www.manhard.com/"><strong>Manhard Engineering</strong></a>&nbsp;for this project.</p><p class="">As seen at <a href="https://www.rejournals.com/">https://www.rejournals.com/</a> </p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=WONnCzJ4RFg:-TITH8fAZ78:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 29 May 2019 19:09:36 Z NAI Hiffman https://www.hiffmanblog.com/blog/2019/5/29 2019-05-29 19:09 +00:00 2019-05-29 14:09 -05:00 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