Company News 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58fa0d13b8a79b115569b425 Awards & Honors Management News Congratulations Liliana Leon on being the 2017 Ollie Scholarship Recipient <img class="thumb-image" alt="Leon_Liliana.jpg" data-image="" data-image-dimensions="1680x2240" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58fa0db5be6594f1c3451b24" data-type="image" src="" /><br> <img class="thumb-image" alt="2017DC.JPG" data-image="" data-image-dimensions="1600x1066" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58fa16605016e1622ab55a5b" data-type="image" src="" /><br> <img class="thumb-image" alt="IMG_1318.JPG" data-image="" data-image-dimensions="2500x1875" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58fa0d8c414fb5f6c57a1fc3" data-type="image" src="" /><br> <img class="thumb-image" alt="IMG_1325.JPG" data-image="" data-image-dimensions="2500x1875" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58fa0d8946c3c4ce4da0262e" data-type="image" src="" /><br> <img class="thumb-image" alt="IMG_1322.JPG" data-image="" data-image-dimensions="2500x1875" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58fa0d896a49637db3fad76c" data-type="image" src="" /><br> <a href="#" class="previous"></a> <a href="#" class="next"></a> <h3>Congratulations to the 2017 Ollie Scholarship Recipient!</h3><p>The BOMA/Chicago Foundation and the Scholarship Committee are excited to announce that Liliana (Lily) Leon, Assistant Property Manager at NAI Hiffman, has been awarded the 2017 Reginald L. Ollie Inclusion and Outreach Scholarship. Lily, a DePaul University graduate, began her career as a property administrator at Harper Court with McCaffery Interests, Inc in 2014. Soon after, she was promoted to assistant property manager for the University of Chicago's commercial real estate portfolio. During that time, Lily received her broker's license. At the end of 2016, Lily accepted an offer from NAI Hiffman (909 Davis Street in Evanston) in hopes of continuing her growth within CRE. We will recognize Lily at the Diversity Celebration.</p><h3>April 20 Diversity Celebration Details</h3><p>The annual Diversity Celebration to raise funds for the Ollie Scholarship and to recognize our 2017 recipient was held on April 20 at Venue SIX10 (610 S Michigan, home of the Spertus Institute) . About 300 were in attendance as we celebrated, enjoyed the amazing views of Grant Park and Lake Michigan and watched the talented Jesse White Tumblers perform.&nbsp;</p><p><a target="_blank" href="">Read more here</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Fri, 21 Apr 2017 13:53:05 Z NAI Hiffman Congratulations Liliana Leon on being the 2017 Ollie Scholarship Recipient 2017-04-21 13:53 +00:00 2017-04-21 08:53 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58ef89679de4bbfd3a9da5e4 Press Release NAI Hiffman completes lease renewal at Butterfield Centre in Lombard <img class="thumb-image" data-image="" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58ef898615d5db893a67d127" data-type="image" src="" /> <p>LOMBARD, IL (April 13, 2017) – NAI Hiffman is pleased to announce that Waste Management has signed a lease renewal at 700-720 E. Butterfield Road in Lombard, Illinois.</p><p>NAI Hiffman Executive Vice President, Michael Van Zandt, and Vice President, Brian Edgerton, represented the landlord, St. Paul Fire &amp; Marine, in the 86,110-square-foot office lease. Waste Management has been an active tenant at Butterfield Centre since 1991 and continues to benefit from the property’s prime location in DuPage County.</p><p>NAI Hiffman currently provides leasing and management services at Butterfield Centre, a two-building, 280,672-square-foot, Class A office complex centrally located at 700-720 E. Butterfield Road. The property features close proximity to major interchanges like I-88 and I-355, as well as popular restaurants and shops within Yorktown Center Mall in Lombard. Amenities, include: newly renovated common areas, on-site deli with “made-to-order” service, fitness center, covered parking, storage, and training center with auditorium. To learn more about Butterfield Centre and its leasing opportunities, visit: <a href=""></a>.</p><p>Featured in <a target="_blank" href="">Bisnow</a>; <a target="_blank" href="">CoStar</a>; <a target="_blank" href="">Daily Herald</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Thu, 13 Apr 2017 14:22:30 Z NAI Hiffman NAI Hiffman completes lease renewal at Butterfield Centre in Lombard 2017-04-13 14:22 +00:00 2017-04-13 09:22 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58ee426917bffcbada6e92f0 Office News The Reserve at Deer Park <iframe scrolling="no" allowfullscreen="" src="//;enablejsapi=1" width="854" frameborder="0" height="480"> </iframe><p>With expansive parking, beautiful &amp; functional common areas, and all the amenities employees need throughout the day, The Reserve at Deer Park offers one of the best opportunities for companies to create a corporate identity in Chicago's suburbs. Learn more about what the property offers at <a target="_blank" href=""></a> or contact:</p><p>Jason Wurtz<br />847 626 1086<br /><a href=""></a><br /><br />Jason Streepy<br />847 626 1088<br /><a href=""></a><br /><br />Michael Flynn<br />847 626 1099<br /><a href=""></a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Wed, 12 Apr 2017 16:09:55 Z NAI Hiffman The Reserve at Deer Park 2017-04-12 16:09 +00:00 2017-04-12 11:09 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58ece93a6b8f5b270c3d4be5 Press Release New Hires & Promotions NAI Hiffman announces Michael Flynn promoted to company leadership team as Chief Operating Officer <img class="thumb-image" data-image="" data-image-dimensions="1500x2100" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58eceb59414fb58fde5b6438" data-type="image" src="" /> <p>OAKBROOK TERRACE, IL (April 11, 2017) – NAI Hiffman today announced the promotion of Michael Flynn, SIOR, CCIM, from Executive Vice President in NAI Hiffman’s Office Services group to Chief Operating Officer (COO) for the firm.</p><p>As COO, Flynn will provide the leadership and management continuity necessary to ensure that the firm continues its execution of its expansion strategy and enhances its operating effectiveness while providing unwavering service to its broad range of clients.</p><p>"Michael has been a proven leader in the office brokerage division; as a founding Shareholder in the firm, he will be an invaluable asset to our broader brokerage and management platforms as we continue to serve our expanding client base in Chicago," said CEO, Dave Petersen. '"We are excited to have Michael’s leadership and expertise fully committed to the task of driving the organization forward."</p><p>Flynn brings more than 30 years of experience in commercial real estate leasing and tenant representation to NAI Hiffman, most recently leading an office leasing team focused on North and Northwest suburban Chicago for private and institutional clients including TA Realty, KBS, 90 North and The Davis Companies. He continues to hold a position on the NAI Global Member Leadership Board, serving more than 250 member firms worldwide.</p><p>"As the leading independently-owned Chicago real estate services firm, NAI Hiffman’s culture and entrepreneurial approach is what allows us to continue to serve our clients with unmatched passion and creativity. I am honored to have this opportunity to broaden my impact on the entire organization" said Flynn. "I continue to be excited daily about the great things we are doing for our people and our clients."</p><p>A University of Michigan graduate, Flynn attended the Ross School of Business Administration.&nbsp;He joined NAI Hiffman in 2000 as one of its founding members and has consistently been one of the firm’s top producers. Flynn has received designations from both SIOR and CCIM. He is a member of the Economic Club of Chicago, and on the Board of Directors at Fenwick High School in Oak Park, Illinois.</p><hr /><p>Featured in <a target="_blank" href="">REjournals</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Tue, 11 Apr 2017 14:36:02 Z NAI Hiffman NAI Hiffman announces Michael Flynn promoted to company leadership team as Chief Operating Officer 2017-04-11 14:36 +00:00 2017-04-11 09:36 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58ebfd9659cc6813aa6ffcf8 Research Market Reports First Quarter 2017 Market Reviews <p>Featured in <a target="_blank" href="">Bisnow</a></p><p>NAI Hiffman is pleased to present its First Quarter 2017 Market Review for the Chicago suburban office and industrial markets. The brief overview provides a look at first quarter activity and statistics.</p> <a href="" target="_blank"> <img class="thumb-image" alt="View Suburban Office Market Review" data-image="" data-image-dimensions="1700x2200" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58ebfe4e03596e9140a447e9" data-type="image" src="" /> </a> <p><a target="_blank" href="">View Suburban Office Market Review</a></p> <a href="" target="_blank"> <img class="thumb-image" alt="View Industrial Market Review" data-image="" data-image-dimensions="651x844" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58ed17a086e6c02d632c7e8f" data-type="image" src="" /> </a> <p><a target="_blank" href="">View Industrial Market Review</a></p> <h3 class="text-align-center">Questions? Want to learn more? Contact:</h3><p class="text-align-center">Amanda Ortiz<br />Director of Research<br /><a target="_blank" href=""></a><br />630-693-0645</p> <a href="" class="sqs-block-button-element--medium sqs-block-button-element" >Contact</a><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 10 Apr 2017 21:55:38 Z NAI Hiffman First Quarter 2017 Market Reviews 2017-04-10 21:55 +00:00 2017-04-10 16:55 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58e680756b8f5bd40561ac40 Central DuPage Market Trends <img class="thumb-image" data-image="" data-image-dimensions="2500x1578" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e6a1703e00bee7e89fa53b" data-type="image" src="" /> <h2>Overview</h2><p>Historically, Central DuPage (CDP) has been viewed as one of Chicagoland’s core industrial submarkets. Comprised of nearly 70 million square feet of industrial space,&nbsp;many owners have highly sought after industrial assets in CDP for its proximity to major highway arteries, exposure to skilled labor, proximity to affluent municipalities, and favorable taxes. On a larger scale, Central DuPage is divided by I-355 into two smaller markets. Product east of I-355 is traditionally owner occupied, older vintage, and smaller lots/land parcels, while the product west of I-355 contains more institutional-quality assets. &nbsp;</p><h2>The Central DuPage Cycle</h2><ul><li><p>The portion of the Central DuPage submarket located East of I-355 (Addison, Lombard, etc.) has been a prime "starter market" for smaller tenants and owners as it offers traditionally smaller, land-locked buildings that tend to be older vintage.</p></li><li><p>Many companies migrate to the CDP market to escape higher land values and higher real estate taxes near O'Hare in Cook County. In many cases, users also find newer, more functional assets in CDP as compared to the O'Hare market.</p></li></ul><ul><li><p>As tenants outgrow their existing facilities, they tend to move further west, seeking larger, more functional assets to support further growth.</p></li><li><p>With Central DuPage's vacancy rate below 5.0%, it requires a very selective search with a qualified broker to discover vacant functional product west of I-355 that fulfills the qualities tenants are seeking, such as sufficient loading, proper clear height, adequate parking, functional/modern office space, or most importantly, divisibility.&nbsp;</p></li></ul> <a data-title="" data-description="" data-lightbox-theme="dark" href="" class="image-slide-anchor content-fill" > <img class="thumb-image" alt="CDP Trends.jpg" data-image="" data-image-dimensions="2052x2910" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e80e563a0411454c6263a9" data-type="image" src="" /><br> </a> <a data-title="" data-description="" data-lightbox-theme="dark" href="" class="image-slide-anchor content-fill" > <img class="thumb-image" alt="CDP Trends2.jpg" data-image="" data-image-dimensions="2052x2910" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e80e58bf629aaf15549375" data-type="image" src="" /><br> </a> <a data-title="" data-description="" data-lightbox-theme="dark" href="" class="image-slide-anchor content-fill" > <img class="thumb-image" alt="CDP Trends3.jpg" data-image="" data-image-dimensions="2052x2910" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e80e5a86e6c08b6ab64188" data-type="image" src="" /><br> </a> <a data-title="" data-description="" data-lightbox-theme="dark" href="" class="image-slide-anchor content-fill" > <img class="thumb-image" alt="CDP Trends4.jpg" data-image="" data-image-dimensions="2052x2910" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e80e5c15d5dbf5efd5da97" data-type="image" src="" /><br> </a> <h2>So where are these tenants going?</h2><ul><li>If you look at the available options in Central DuPage as of April 1, and your requirement is 24’ clear height or greater, there are limited opportunities. A majority of these availabilities are non-divisible, single tenant vacancies:<br /> <ul><li>30,000 - 74,999 SF: you have 9 options</li><li>75,000 - 149,999 SF: you have 13 options</li><li>150,000 - 300,000 SF: you have 8 options</li><li>300,000 SF and larger: you have 1 option</li></ul></li></ul><p>*The vacancies noted above total roughly 3.5 million SF of vacancy. Please <a href="">contact us</a> if you have questions on any specific available assets.</p><ul><li><p>The nearby I-88 submarket has just shy of 5 million square feet of vacancy with nearly 75% (or 3.7 million square feet)&nbsp;of this product being in larger, divisible assets, making it a popular market for tenants to move to.</p></li></ul><h2>How owners can attract tenants east of I-355</h2><ul><li><p>For those buildings in the Central DuPage market that are seen as “functionally obsolete”, there are a number of ways owners can improve their assets to attract and retain established tenants, and accommodate their growth. Owners can improve building functionality through the deployment of additional capital. A few strategic improvements include, but are not be limited to:&nbsp;a roof raise, removing bays to create proper loading, assembling additional parcels to support building expansion, installing modern energy efficient lighting and HVAC systems, additional parking, etc. Any combination of these types of improvements will add to the viability of an aging asset.</p></li><li><p>NAI Hiffman's industrial brokerage group can provide strategic planning and marketing to assist owners and businesses in improving their assets to attract all types of industrial tenants. For more information, contact:</p></li></ul><p class="text-align-center">Michael J. Freitag<br /><a href=""></a><br />630-693-0652<br /><a target="_blank" href="">LinkedIn</a></p> <a href="" class="sqs-block-button-element--medium sqs-block-button-element" >Learn More</a><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Fri, 07 Apr 2017 22:00:00 Z NAI Hiffman Central DuPage Market Trends 2017-04-07 22:00 +00:00 2017-04-07 17:00 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58de6a43d1758ef307572fc1 REmark Research REmark: Suburban Office Renovations Creating Increased Occupancy <a href="" target="_blank"> <img class="thumb-image" alt="REmark-Office-033017.jpg" data-image="" data-image-dimensions="2500x2721" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e6784546c3c4a4241d412a" data-type="image" src="" /> </a> <p>We recently examined 120 office buildings across the Chicago suburban market greater than 50,000 SF that were renovated between the year 2000 and today. Over half of those buildings (56%) saw a dip in vacancy post-renovations—experiencing an average drop of 34% in overall vacancy. In this installment of REmark, we take a deeper dive into these results by building class and submarket, then visually highlight some of the buildings that saw the largest vacancy decrease following building improvements. <a target="_blank" href=""><strong>Click here for the full story.</strong></a><br /> </p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Thu, 06 Apr 2017 17:19:28 Z NAI Hiffman REmark: Suburban Office Renovations Creating Increased Occupancy 2017-04-06 17:19 +00:00 2017-04-06 12:19 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58e66a709de4bbb333c1d748 Press Release NAI Hiffman assists in purchase of freezer building in Melrose Park <p>MELROSE PARK, IL (April 6, 2017) – NAI Hiffman is pleased to announce that EX Transport, Inc., has purchased 2700 Division Street in Melrose Park, Illinois.</p><p>NAI Hiffman Executive Vice President, Chris Gary, and Associate, Alex Sutterer, represented EX Transport in its purchase of the 24,646-square-foot industrial buildings from seller, Pars Ice Cream Co., Inc.</p><p>EX Transport was able to efficiently secure the property at an opportune time, as the small, standalone freezer buildings with additional land are becoming a rarity in the Chicagoland market. The company will now be occupying the 2 acres of land that 2700 Division Street provides.</p><p>“Rock Fusco &amp; Connelly’s Pat Clancy and Jay Rock were very instrumental in helping us obtain a 6b,” said Sutterer. “Steve Kirby from Growth Corp., also played a critical role in helping secure financing for the project.”</p><hr /><p>Featured in <a target="_blank" href="">Daily Herald</a>; <a target="_blank" href="">REjournals</a>;<a target="_blank" href=""> Bisnow</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Thu, 06 Apr 2017 16:19:17 Z NAI Hiffman 2017-04-06 16:19 +00:00 2017-04-06 11:19 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58e5114e86e6c07efaccd71f Events Press Release 2017 CRE Broker Hockey Classic raises $8,500 for ICE Program <img class="thumb-image" data-image="" data-image-dimensions="2500x1520" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e51184197aea20d6f702a2" data-type="image" src="" /> <p><strong></strong>CHICAGO, IL (April 5, 2017) – NAI Hiffman is pleased to announce that the 2017 CRE Broker Hockey Classic, held March 31 at Johnny’s Icehouse at 2550 W Madison St., successfully raised $8,500 for the Inner-City Education (ICE) Program.</p><p>The annual event brings together Chicagoland professionals for an entertaining night of hockey and fundraising efforts. This year’s roster consisted of 32 players, joined by an audience of more than 80 people that came to show their support. Following a close and exhilarating game, it was Team Red that took the W, defeating Team Black 10-8.</p><p>This year’s participants, included: Brian Edgerton, NAI Hiffman; Dan Waszak, Quantum Real Estate Advisors; Bill Lussow, Bespoke Commercial Real Estate; John Skalla, Bradford Allen; Andrew Boudoures, Brixmor Property Group; David Conroy, Cawley Chicago; Justin Ross, CBRE; Jim Hodur, Coldwell Banker Commercial NRT; Jason Yale, Colliers; Nico Kolschowsky, Conlon Commercial; David Goldberg, Gold Street Partners; Matt Hoffer, Cushman &amp; Wakefield; Ben Cleveland, Cushman &amp; Wakefield; Finley Brown, FWB Property Group; Patrick Philbin, Hines; Brian Carroll, JLL; Jordan Callaway, Marcus &amp; Millichap; Mike Freitag, NAI Hiffman; Jonathon Cordell, NGKF; Sean Olvany, Prologis; Luke Sauer, Sierra US Commercial Real Estate; Russell Brenner, Stage Equity Partners; Matt Katsaros, CA Ventures; Joe Gatto, Core Spaces; Jeff Grabowski, Exeter Property Group; Gary Hunter, Stockbridge Capital Group; Sean Lutz, SRS Real Estate Partners; Chris Malay, Marcus &amp; Millichap; Mark Garelli, Duff &amp; Phelps; Toby Veit, Ryan Companies; Morgan Mellske, Cresa Partners; and Brad Erickson, ICE Program.</p><hr /><p>Featured in <a target="_blank" href="">Bisnow</a>; <a target="_blank" href="">REjournals</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Wed, 05 Apr 2017 15:49:31 Z NAI Hiffman 2017 CRE Broker Hockey Classic raises $8,500 for ICE Program 2017-04-05 15:49 +00:00 2017-04-05 10:49 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58e3ef97b8a79bb4b861670c Research Market Peek Industrial News Office News First Quarter 2017 Market Peek <p>NAI Hiffman is pleased to present the First Quarter 2017 Market Peek, a first look at the market statistics for the Chicago metropolitan office and industrial real estate markets.</p> <img class="thumb-image" data-image="" data-image-dimensions="650x85" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e3efe9d1758ec1157843ae" data-type="image" src="" /> <h3>Industrial: Strong Absorption Continues to Tighten Vacancy Rates</h3><ul dir="ltr"><li>The vacancy rate for the Chicago industrial market measured 6.25 percent at the close of the first quarter of 2017, 95 basis points lower than the recorded rate at the beginning of 2016. Since reaching its peak of 12.10% at the height of the recession during second quarter of 2010, the vacancy rate has continually dropped, declining 585 basis points over the seven-year span.</li><li>For the third consecutive quarter, the industrial market absorbed more than 5.5 million square feet. Seven large corporate tenants including LASCO Fittings, thyssenkrupp, and Nealey Foods, each took occupancy of more than 100,000 square feet during the first quarter, contributing to over 1.1 million square feet of positive absorption alone.</li><li>Nearly 1.1 million square feet of new construction broke ground during the first quarter, including Venture One’s 276,000-square-foot build-to-suit for WeatherTech, Inc. in St Charles and ML Realty’s 181,011-square-foot speculative facility located in Lockport. Of the just under 17.0 million square feet of construction underway, 45 percent is being built on a speculative basis. If this speculative product is delivered vacant, a jump in the vacancy rate could be experienced in the coming quarters.</li></ul> <img class="thumb-image" alt="Industrial-1Q2017-UPDATE.gif" data-image="" data-image-dimensions="650x450" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e3f00cc534a5264e4bfd0b" data-type="image" src="" /> <a href="" class="sqs-block-button-element--medium sqs-block-button-element" target="_blank">INDUSTRIAL MARKET PEEK</a> <h3>Office: Suburban Market Stabilizes; CBD Construction Causes Vacancy Uptick</h3><p><strong>SUBURBS</strong></p><ul dir="ltr"><li>The vacancy rate for the suburban office market measured 19.13 percent at the end of the first quarter. Four out of five submarkets experienced a dip in overall vacancy, while the North Suburban submarket saw an increase due to existing tenants downsizing or giving back space.</li><li>The suburbs experienced an increase in leasing activity as three new leases greater than 50,000 square feet were signed during first quarter. Old World Industries committed to 160,000 square feet in Northbrook, First Midwest Bank committed to 70,000 square feet in Chicago, and National Express Corp. committed to 54,000 square feet in Lisle.</li></ul> <img class="thumb-image" data-image="" data-image-dimensions="650x370" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e3f04a17bffcfb1f87baac" data-type="image" src="" /> <p><strong>CBD</strong></p><ul dir="ltr"><li>The downtown office market reported 629,957 square feet of positive absorption with an uptick in overall vacancy as another trophy asset was delivered first quarter. Construction on 150 N Riverside Dr was completed, bringing 1.3 million square feet of Class A space to the market. The new West Loop tower is 81.7 percent leased with William Blair &amp; Company set to occupy more than 300,000 square feet later this year.</li><li>Notable leases signed during first quarter included Outcome Health committed to 400,000 square feet at 515 N State St, PPM America, Inc. signed a renewal/expansion for 101,000 square feet at 225 W Wacker Dr, and the National Restaurant Association committed to 51,000 square feet at 233 S Wacker Dr.</li></ul> <img class="thumb-image" data-image="" data-image-dimensions="650x370" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e3f0702994ca997dd581af" data-type="image" src="" /> <a href="" class="sqs-block-button-element--medium sqs-block-button-element" target="_blank">OFFICE MARKET PEEK</a> <p>For further information regarding the content of this market peek or if you are interested in attending a custom market overview presentation, please contact:</p><p class="text-align-center"><strong>AMANDA ORTIZ</strong><br />Director of Research<br />630.693.0645<br /></p> <a href="" class="sqs-block-button-element--medium sqs-block-button-element" target="_blank">CONTACT</a><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Tue, 04 Apr 2017 19:20:09 Z NAI Hiffman First Quarter 2017 Market Peek 2017-04-04 19:20 +00:00 2017-04-04 14:20 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58e2a2e9ff7c5012318d5928 Awards & Honors NAI Global Industrial News 7 NAI Hiffman brokers recognized among top 35 NAI Global worldwide producers; Dan Leahy and Chris Gary named among top 10 <p>NAI Hiffman is proud to announce the firm has 7 brokers ranked among NAI Global’s annual top 35 producer recognition program. The list included: Joe Bronson, Brian Colson, Kelly Disser, Jeff Fischer, Chris Gary, Dan Leahy, and John Whitehead. Chris Gary and Dan Leahy were listed among the top 10.&nbsp;</p><p>The award honors individuals who are handling the highest volume of multimarket business within NAI. The awards will be presented at the 2017 NAI Global Convention in Carlsbad, CA this September.&nbsp;</p><p>“My congratulations go out to each of our recipients as it further indicates the ability for these dedicated agents to compete and win at the highest level with the resources and energy of our entire organization,” stated Michael Flynn, Executive Vice President with NAI Hiffman.</p><p><a target="_blank" href="">Click here</a> to see the complete list and press release from NAI Global.<br /> </p> <img class="thumb-image" alt="Pictured from left to right: Joe Bronson, Brian Colson, Kelly Disser, Jeff Fischer, Chris Gary, Dan Leahy, &amp; John Whitehead" data-image="" data-image-dimensions="2500x1268" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58e2aa05e3df2870d81d52c2" data-type="image" src="" /> <p>Pictured from left to right: Joe Bronson, Brian Colson, Kelly Disser, Jeff Fischer, Chris Gary, Dan Leahy, &amp; John Whitehead</p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 03 Apr 2017 19:30:00 Z NAI Hiffman 7 NAI Hiffman brokers recognized among top 35 NAI Global worldwide producers; Dan Leahy and Chris Gary named among top 10 2017-04-03 19:30 +00:00 2017-04-03 14:30 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58d04586f5e231dd6a9ad264 For Young Eagle, Passion Plus Encouragement Led to Career in Aviation <img class="thumb-image" data-image="" data-image-dimensions="768x768" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58d045bb579fb308e17044ae" data-type="image" src="" /> <p>In celebration of the 25th anniversary of the <a target="_blank" href="">EAA Young Eagles program</a> in 2017, the EAA is featuring 25 Young Eagles whose stories inspire and exemplify the impact of the program. In the story below, Julia Harrington cites her first plane ride in a small aircraft with her dad's friend,&nbsp;<a target="_blank" href="">Bruce Granger</a> (Senior VP with NAI Hiffman's Industrial Brokerage group), as one of the moments that started her on the path to a career in aviation.</p><p>&nbsp;<em>"Julia's dad and I are long-time friends. When she was just a kid,&nbsp;I gave Julia, her dad, and brother an airplane ride down to Chicago, flying along the Eisenhower expressway. We flew up and down the lakefront and then back out west. I let Julia sit in the copilot seat because she was so excited about going for an airplane ride. I let her take the controls for awhile and she did a great job for her first time.&nbsp;Fast forward to today and she is flying jets for a charter service out of Madison, Wisconsin and playing an active role for Women in Aviation. It's hard to believe that an airplane ride I gave her as a kid helped direct the trajectory of her life!" - Bruce Granger</em></p><hr /><p>Featured on the <a target="_blank" href="">EAA Blog</a></p><p>For 25-year-old corporate charter pilot Julia Harrington, EAA 780534, an enthusiasm for aviation is in her blood.</p><p>“[My dad] is an aviation enthusiast. Just always loved airplanes,” she said. “He’s always just wanted to be around it so he’s always had a couple of friends he made from going to AirVenture without me.”</p><p>Julia said growing up she frequently asked her dad to take her along on trips to Oshkosh for AirVenture and he finally agreed to bring her along when she was 8. Three years later, she took her first ride in a small aircraft with a friend of her father, Bruce Granger, who was a Young Eagles pilot and started on the path to a career in aviation.</p><p>Until that Young Eagles ride, Julia said she hadn’t considered becoming a professional pilot.</p><p>“It was definitely a turning point because I’d never been in a small airplane before,” she said. “I do remember my first AirVenture I was watching Patty Wagstaff fly and I was like, I definitely want to be a pilot in some capacity. I just didn’t know that it would end up being my career.”</p><p>While attending the University of Illinois, Julia said she first began to consider a career in aviation.</p><p>“My plan was to major in journalism and minor in aviation and after my first solo flight that’s when I knew,” she said. “There’s nothing I enjoy, there’s nothing that fuels my passion as much as this. It had to be what I would dedicate all my time and energy to.”</p><p>After college, Julia participated in an intern program offered by Cessna at the time that allowed her to fly all over the country sharing her love of aviation with others including a few Young Eagles.</p><p>Although she was born with aviation in her blood, Julia said the connections she made through the Young Eagles program were a great help in getting her to where she is today.</p><p>“First of all, the network of pilots. My dad’s friend, I’m actually still in communication with him now and he’s been a big encouragement for me in my career progression moving forward,” she said. “And then just seeing all of the other people who were going through the Young Eagles program and then using it to turn it into a career was inspiring.”</p><p>Julia encouraged future aviators not to give up on their dreams even when achieving them seems impossible.</p><p>“[Aviation’s] not necessarily the easiest because there’re usually some type of challenge in terms of either money or time but don’t let that stand in your way because there are so many different resources to help overcome those obstacles,” she said. “It can be challenging but it is the most rewarding thing to conquer.”</p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 20 Mar 2017 21:13:05 Z NAI Hiffman For Young Eagle, Passion Plus Encouragement Led to Career in Aviation 2017-03-20 21:13 +00:00 2017-03-20 16:13 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58d02b178419c272379d11da Events Industrial News AIRE: State of Logistics Luncheon <img class="thumb-image" data-image="" data-image-dimensions="2500x1637" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58d02c23e4fcb591d4c45f78" data-type="image" src="" /> <p>On Tuesday, March 14, AIRE hosted its monthly Lunch, Learn, and Lead at Gene &amp; Georgetti’s in Rosemont. President and CEO of Council of Supply Chain Management Professionals (CSCMP), Rick Blasgen, spoke on the state of logistics and how it relates to supply chain management. Below are some key takeaways from the event.</p><p>E-Commerce, Logistics, &amp; Supply Chain Management:</p><ul dir="ltr"><li>Logistics costs in 2015 reached $1.4 trillion<ul><li>After 5 years of increases, inventory levels have flattened</li><li>Since 2006, logistics costs have increased 20 percent</li></ul></li><li>40-50 percent of the transportation workforce will retire within the next 10 years<ul dir="ltr"><li>The need for truck drivers has increased. With the baby-boomer generation beginning to retire, there are not enough young people filling these positions</li><li>Those needs may shift in the future as automated abilities continue to improve</li></ul></li><li>E-commerce was a $340 billion market in 2016<ul><li>Supply chain cost is 25-30 percent of total e-commerce cost</li></ul></li><li>10 years ago, only 30 percent of Fortune 500 companies had a “supply chain” position, that number is now at 85 percent</li></ul><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 20 Mar 2017 19:26:01 Z NAI Hiffman AIRE: State of Logistics Luncheon 2017-03-20 19:26 +00:00 2017-03-20 14:26 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58cfec0d1b631bf52d385d46 Article Feature Industrial News 2017: The Year of Infill Development <img class="thumb-image" alt="Adam Naparsteck" data-image="" data-image-dimensions="1500x2100" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58cfed279de4bb535a0f8b93" data-type="image" src="" /> <p><em>Adam Naparsteck</em></p> <p><strong>By Adam Naparsteck<br />Vice President |&nbsp;Industrial Services</strong></p><h3>How has development changed? Why?</h3><p>Since economic recovery began, we have seen an incredible amount of new construction activity. In the early part of the building cycle, developers were primarily focused on larger land sites that could accommodate big box development, typically defined as 300,000+ SF facilities. Projects of this size are ideal for two reasons: the developer can achieve greater economies of scale on construction costs and it allows investors to allocate more capital into a single deployment. This makes an attractive proposition for institutional owners, many of whom are tasked with deploying hundreds of millions of dollars into industrial real estate assets each year.&nbsp;</p><p>The uncomplicated “ready for market” development projects happened first and then it became increasingly more difficult to identify new viable projects. &nbsp;As new opportunities became harder to source, we’ve seen two key themes develop in the marketplace: land values for infill sites has risen and acquisition criteria is now permitting smaller developments. Couple the scarcity of large development sites with rising rents and it makes perfect sense why there is an increased focus on infill development.&nbsp;</p><h3>What’s happening now?</h3><p>While the amount of overall absorption activity it still robust and the supply/demand balance is still healthy, the “where are we in the cycle?” question has become more common. Most economists tracking the industrial sector predict a healthy 2017 (and hopefully 2018), but investors are scaling back on the risk of taking on new locations. The pull back in risk tolerance is most easily seen in secondary and tertiary submarkets around Chicago. Land prices have remained steady in the less desirable areas, while land values have returned to (or eclipsed) pre-recession figures in the infill locations. Investors would rather pay more for a quality site in an infill location than save a few dollars on the land and develop a spec building in a secondary submarket where leasing velocity is soft or there may still be other competing sites available for development.</p><p>Along North Avenue in Carol Stream, my team represented DCT Industrial on a 20-acre land acquisition for a 350,000 SF build-to-suit in 2015 and Dermody Properties on a 24-acre acquisition for a 381,400 SF speculative building in 2016. Both sites required the demolition of existing buildings. The North Avenue location is in the heart of the Central DuPage submarket – an area that is both land constrained and highly sought-after by institutional investors. Because of the rarity of this opportunity in the current market, competition for the site was aggressive.&nbsp;</p><p>In addition to rising land values in key markets, developers have also started to expand their acquisition criteria. We’ve seen this loosening in project scope happening for several years now. In 2015, projects under 300,000 SF accounted for 56.7% of all spec development. In 2016, that number grew to 64.4%. &nbsp;We are currently on track for a similar percentage in 2017. &nbsp;</p><p>Furthermore, we see builders beginning to expand their development criteria to include sites that can only accommodate a facility under 100,000 SF. In 2015, there wasn’t a single speculative building developed under that size. In 2016, there were six speculative buildings completed under 100,000 SF. In 2017, there are already eight projects under 100,000 SF that we are tracking. &nbsp;</p><p>With very few large sites available, we’re seeing projects like Liberty Property Trust’s 95,962 SF development in Bensenville; Barings Real Estate’s two new buildings in Bloomingdale: a 51,600 SF facility and a 70,650 SF facility; and Sitex’s 83,755 SF development in Wheeling. &nbsp; &nbsp;</p><h3>Predictions?</h3><p>As we continue to experience increased demand from e-commerce operations and last mile delivery requirements, the need to be close to densely populated areas will continue to drive demand in infill submarkets. Two factors easily justify these high-barrier-to-entry locations: it keeps new construction competition to a minimum, and without the additional supply, landlords can push rents even higher. While developers try to take advantage of these great economic times, they’ll need to continue to adapt to the continually evolving market conditions. In 2017, the market is telling them infill development is where they should remain focused.</p> <a href="" class="sqs-block-button-element--small sqs-block-button-element" target="_blank">Download whitepaper</a><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 20 Mar 2017 14:49:44 Z NAI Hiffman 2017: The Year of Infill Development 2017-03-20 14:49 +00:00 2017-03-20 09:49 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58d1814bd2b8574909e5c876 Awards & Honors Industrial News Dan Leahy & Adam Roth Awarded Industrial Brokers of the Year <img class="thumb-image" data-image="" data-image-dimensions="500x306" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58d1838b8419c2bd47ca28db" data-type="image" src="" /> <p>Dan Leahy &amp; Adam Roth were awarded the Industrial Brokers of the Year award at the Greater Chicago Food Depository’s 29th Annual Chicago Commercial Real Estate Awards. Congrats to all winners, finalists, and donators for supporting a great cause!</p><p><a target="_blank" href=";pg=entry">See the full 2016-2017 award winner list here.</a></p><p><em>The 29th Annual Chicago Commercial Real Estate Awards Dinner brought together more than 1,800 of Chicago’s top architects, brokers, developers, property managers, interior contractors and design professionals to both celebrate the outstanding achievements in all facets of the industry and to support the Greater Chicago Food Depository. This partnership truly helps to build a better Chicago. Thanks to all who supported this year's event. So far, it has raised nearly $1,200,000 to provide more than 3.5 million meals for our hungry neighbors. However, it's not too late to add to that total.&nbsp;</em></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Fri, 17 Mar 2017 15:00:00 Z NAI Hiffman Dan Leahy & Adam Roth Awarded Industrial Brokers of the Year 2017-03-17 15:00 +00:00 2017-03-17 10:00 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58c9a6bd17bffc596de2122a Press Release NAI Hiffman represents Mold Inspection & Testing in new suburban lease <p>ELMHURST, IL (March 15, 2017) – NAI Hiffman is proud to announce that Mold Inspection &amp; Testing (MI&amp;T) has signed a 6,800-square-foot office lease at 650 W Grand Ave. in Elmhurst, Illinois.</p><p>NAI Hiffman Vice President of Office Services, Aubrey Van Reken, represented MI&amp;T in its new space, while Pat Lederer-Korman of Lederer &amp; Associates represented the landlord, 650 Grand LLC c/o Korman/Lederer Management Co., in the transaction.</p><p>Headquartered in the City of Chicago, MI&amp;T first opened its doors in 2009 and now serves more than 50 major metro areas across the U.S., specializing in commercial and residential indoor mold growth assessments. This new office is MI&amp;T’s second location in Illinois, allowing MI&amp;T to serve its suburban client base.</p><p>“Our business was growing rapidly, which created the need for a larger office,” said Adam Pacha, president of MI&amp;T. “Aubrey found a space that best suited our company needs and helped us to negotiate rent terms. Her communication skills were excellent and we were very happy with the results.”</p><hr /><p>Featured in <a target="_blank" href="">REjournals</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Wed, 15 Mar 2017 20:41:06 Z NAI Hiffman 2017-03-15 20:41 +00:00 2017-03-15 15:41 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58c82c6bb3db2b7f6a79b7c8 Industrial News Article Feature Real Estate for Breakfast with David Haigh <img class="thumb-image" data-image="" data-image-dimensions="685x400" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58c8300b579fb3673e75e881" data-type="image" src="" /> <p>We're proud to share an interview by Phil Coover with our very own David Haigh, CCIM, Vice President with our Industrial Services group, on <a target="_blank" href=";i=1000382320939">Real Estate for Breakfast Podcast</a>.</p><p>In the episode,&nbsp;&nbsp;Phil and David discuss the different approach needed for massive square footage transactions in industrial real estate.&nbsp;David explains a good approach to networking and getting into the real estate business, the history and macroeconomic factors that lead Chicago to being of paramount importance in industrial real estate, and new trends in the industrial real estate market.</p><p><a target="_blank" href=";i=1000382320939">Download the podcast here</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Tue, 14 Mar 2017 17:58:02 Z NAI Hiffman Real Estate for Breakfast with David Haigh 2017-03-14 17:58 +00:00 2017-03-14 12:58 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58c6d3cf59cc687d853c7842 Press Release Edgerton & Van Zandt represent ownership in two lease expansions at One Oakbrook Terrace <img class="thumb-image" data-image="" data-image-dimensions="2500x1851" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58c6d419ff7c50ccf23edc6f" data-type="image" src="" /> <p>OAKBROOK TERRACE, IL (March 13, 2017) – &nbsp;One Oakbrook Terrace, the 161,373-square-foot property at the corner of Butterfield Road and 22nd Street in Oakbrook Terrace, is experiencing organic tenant growth.</p><p>AIMCO, a Real Estate Investment Trust (REIT) headquartered in Denver, Colorado and one of the largest owners and operators of apartment homes in the country, has expanded its tenancy at the asset to 4,129 square feet.</p><p>NAI Hiffman Vice President, Brian Edgerton, and Executive Vice President, Michael Van Zandt, represented the owner in the transaction. AIMCO was represented by Matt Schiffler and Brendan Fisher with Cresa Partners.</p><p>Additional leasing activity at the property included 3C Payment USA, a financial services point of sale technology company based in Luxembourg, expanding its lease to 5,357-square-feet directly.</p><p>Recent leasing activity brings One Oakbrook Terrace’s occupancy level to 93 percent. The building currently has available spaces ranging in size from 1,500 to 4,200 square feet. Amenities at the building include a recently renovated lobby, conference center, and a full-service deli and tenant lounge.</p><hr /><p>Featured in <a target="_blank" href="">REjournals</a>; <a target="_blank" href="">Bisnow</a>; <a href="">Daily Herald</a></p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Mon, 13 Mar 2017 17:17:53 Z NAI Hiffman Edgerton & Van Zandt represent ownership in two lease expansions at One Oakbrook Terrace 2017-03-13 17:17 +00:00 2017-03-13 12:17 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58c321aee58c62bef08929a2 Events NAIOP's The Last Mile <img class="thumb-image" data-image="" data-image-dimensions="2500x1583" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58c324c32e69cfc36091a1b8" data-type="image" src="" /> <p>On Thursday, March 9th, NAIOP hosted its “Last Mile” event at the Riverway Auditorium in Rosemont. The discussion covered the current state of e-commerce users, and the future of distribution during the “Last Mile.” Panelists included:</p><p>Mark Goode, Principal, Venture One Real Estate<br />Mike Senner, Executive Vice President, Colliers International<br />Mike Tenteris, Managing Director, Cushman &amp; Wakefield<br />Jason West, Executive Managing Director, Cushman &amp; Wakefield</p><p><br /><strong>State of E-Commerce</strong></p><ul><li>E-commerce sales are projected to reach $500 billion by the end of 2018.</li><li>Other e-commerce companies are looking for the most cost-efficient space, which is usually not going to be a BTS.</li><li>Third party firms will be handling returns.<ul><li>Current distribution facilities aren’t setup to handle returns.</li></ul></li></ul><p><strong>The Amazon Model</strong></p><ul><li>Amazon is getting creative with its space, whether it is converting a first floor office into a warehouse/distribution hub, or redeveloping unused parking garage space.</li><li>Distribution hubs are within 20 miles of 40% of the Chicago area population.</li><li>Leases signed by the e-commerce giant in the city were 5-year deals, however, 10-year leases were signed in the suburbs because they are uncertain of the hub and spoke’s sustainability long-term.</li></ul><p><strong>Today’s Shopper</strong></p><ul><li>Biggest drivers of demand:<ul><li>Food &amp; Beverage</li><li>Medical/Pharma</li><li>Mergers &amp; Acquisitions</li><li>E-commerce</li></ul></li></ul><p><strong>Couch potato shopper</strong></p><ul><li>Instead of going to a Walgreens, or other convenience stores, people are ordering things such as toilet paper and having it delivered.</li><li>Convenience stores could become a thing of the past.</li></ul><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Fri, 10 Mar 2017 22:12:44 Z NAI Hiffman NAIOP's The Last Mile 2017-03-10 22:12 +00:00 2017-03-10 16:12 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:58c2c5d83e00be4c0088119c REmark Research REmark: Chicago Industrial: How Much the Top 10 Institutional Owners Actually Own <img class="thumb-image" data-image="" data-image-dimensions="612x666" data-image-focal-point="0.5,0.5" data-load="false" data-image-id="58c2c5eb8419c2b8c95d9bc7" data-type="image" src="" /> <p><br />Chicago’s total industrial market is made up of 1.2 billion SF. Of that, the market’s top 10 largest owners own nearly 142 million SF – that’s approximately 11% of the total market. It might not seem like much, but when you take a step back and compare that amount to other markets, it’s pretty incredible. To put it into perspective, that “tiny” 11.4% of industrial space that the top 10 owners own in Chicago is almost 50% of the entire Indianapolis industrial market (300 million SF), nearly 75% of Nashville’s industrial market (191 million SF), and 5X the size of the Lincoln, Nebraska industrial market (28 million SF).&nbsp;<br /><em>Source: Outside inventory numbers provided by NAI Global affiliate offices</em></p><p><strong>Top 10 Largest Institutional Owners (listed alphabetically)</strong><br />Cabot Properties<br />CenterPoint Properties<br />DCT Industrial Trust<br />Duke Realty<br />Exeter Property Group<br />Global Logistics Properties (GLP)<br />Liberty Property Trust<br />ML Realty<br />Prologis<br />TA Realty<br /><em>Source: CoStar</em><br /> </p><div class="feedflare"> <a href=""><img src="" border="0"></img></a> </div> Fri, 10 Mar 2017 15:30:31 Z NAI Hiffman REmark: Chicago Industrial: How Much the Top 10 Institutional Owners Actually Own 2017-03-10 15:30 +00:00 2017-03-10 09:30 -06:00