Company News 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5dcd76dc22f9970a9d82f7eb http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/WYqGzbwMq30/14 NAIOP’s 32nd Annual Awards for Excellence <p class="">NAIOP’s 32nd Annual Awards for Excellence event happens tonight at Navy Pier. &nbsp;Our team is nominated in the categories of Broker Transaction of the Year – Suburban Office, Broker Transaction of the Year – Office Investment, and Property Management Firm of the year. We’d like to wish our team and our competition good luck!</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=WYqGzbwMq30:3UTaOvnibEw:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 14 Nov 2019 15:52:20 Z NAI Hiffman NAIOP’s 32nd Annual Awards for Excellence https://www.hiffmanblog.com/blog/2019/11/14 2019-11-14 15:52 +00:00 2019-11-14 09:52 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5dcc3c69102a3018dd8ae527 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/rhe6MjdizdE/13 NAI Hiffman 2019 Charity Dodgeball Tournament After Video <p class="">NAI Hiffman hosted the 2019 Charity Dodgeball Tournament on 10/30 at The Odeum in Villa Park. 32 teams competed for the title of "Dodgeball Champion of the World" and raised tens of thousands of dollars to support Ronald McDonald House Charities. Platinum sponsors included Air Comfort, Clean Lighting and Electrical Solutions and Snow Plus. Here are a few highlights from the event. </p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=rhe6MjdizdE:KOfoLwJZ0tA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 13 Nov 2019 17:26:23 Z NAI Hiffman NAI Hiffman 2019 Charity Dodgeball Tournament After Video https://www.hiffmanblog.com/blog/2019/11/13 2019-11-13 17:26 +00:00 2019-11-13 11:26 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5dcafd1bbb9bca33fef1c023 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/lK15EeiCcGU/12 NAI Hiffman named among the Chicago Tribune's Top Workplaces for the sixth time <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573584568868-L83ZYQ9MA6TA2O2WE2Z9/ke17ZwdGBToddI8pDm48kNvT88LknE-K9M4pGNO0Iqd7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QPOohDIaIeljMHgDF5CVlOqpeNLcJ80NK65_fV7S1USOFn4xF8vTWDNAUBm5ducQhX-V3oVjSmr829Rco4W2Uo49ZdOtO_QXox0_W7i2zEA/blog-post.jpg" data-image-dimensions="1920x1080" data-image-focal-point="0.5,0.5" alt="blog-post.jpg" data-load="false" data-image-id="5dcafeb8bb9bca33fef20866" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573584568868-L83ZYQ9MA6TA2O2WE2Z9/ke17ZwdGBToddI8pDm48kNvT88LknE-K9M4pGNO0Iqd7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QPOohDIaIeljMHgDF5CVlOqpeNLcJ80NK65_fV7S1USOFn4xF8vTWDNAUBm5ducQhX-V3oVjSmr829Rco4W2Uo49ZdOtO_QXox0_W7i2zEA/blog-post.jpg?format=1000w" /> <p class="">We're proud to have been named among the Chicago Tribune’s Top Workplaces for a sixth time. NAI Hiffman ranked #16 among employers with 249 or fewer employees. It is an honor to be recognized for our culture of empowerment, collaboration, and appreciation of our employee’s hard work.</p><p class="">Congratulations, team!</p> <a class="image-slide-anchor content-fill" > <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665846910-2P05ILGFIR3X226DQBYZ/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/john.basile.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="john.basile.jpg" data-load="false" data-image-id="5dcc3c358feb53500f1ac8e2" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665846910-2P05ILGFIR3X226DQBYZ/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/john.basile.jpg?format=1000w" /><br> </a> <a class="image-slide-anchor content-fill" > <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665846960-T4LQ0Q43Y3MIH46W65V8/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/liz.lettiere.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="liz.lettiere.jpg" data-load="false" data-image-id="5dcc3c3590177a2c36b64078" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665846960-T4LQ0Q43Y3MIH46W65V8/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/liz.lettiere.jpg?format=1000w" /><br> </a> <a class="image-slide-anchor content-fill" > <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665848039-OWJD9DF6R7OVCY80MS88/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/sarah.cannella.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="sarah.cannella.jpg" data-load="false" data-image-id="5dcc3c378c26637dbd2b5074" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1573665848039-OWJD9DF6R7OVCY80MS88/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/sarah.cannella.jpg?format=1000w" /><br> </a><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=lK15EeiCcGU:C-S9TmgVuHU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 12 Nov 2019 18:49:49 Z NAI Hiffman NAI Hiffman named among the Chicago Tribune's Top Workplaces for the sixth time https://www.hiffmanblog.com/blog/2019/11/12 2019-11-12 18:49 +00:00 2019-11-12 12:49 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5dc1860c32b00a7d3a7ed087 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/QBfyDfvxR5Q/5 NAI Hiffman Arranges Sale of Chicago-Area Industrial Facility <p class=""><strong>The company marketed the property on behalf of the seller, Heller Industrial Parks, and procured the buyer, TradeLane Properties, which plans to modernize the building.</strong></p> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572964470757-NSD0PRD8X69GDUEQHX7V/ke17ZwdGBToddI8pDm48kDHPSfPanjkWqhH6pl6g5ph7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0mwONMR1ELp49Lyc52iWr5dNb1QJw9casjKdtTg1_-y4jz4ptJBmI9gQmbjSQnNGng/7557-New+Bldg+Pic+060208.jpg" data-image-dimensions="2500x1875" data-image-focal-point="0.5,0.5" alt="7557-New Bldg Pic 060208.jpg" data-load="false" data-image-id="5dc1886b32b00a7d3a7f039e" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572964470757-NSD0PRD8X69GDUEQHX7V/ke17ZwdGBToddI8pDm48kDHPSfPanjkWqhH6pl6g5ph7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0mwONMR1ELp49Lyc52iWr5dNb1QJw9casjKdtTg1_-y4jz4ptJBmI9gQmbjSQnNGng/7557-New+Bldg+Pic+060208.jpg?format=1000w" /> <p class="">NAI Hiffman has represented Heller Industrial Park in the sale of its property at 7557-7575 S. 78th Ave. in Bridgeview, Ill. Executive Vice Presidents Lawrence Much and Steve Connolly together with Associate Drew Bulson marketed the asset and procured the buyer, TradeLane Properties. The new owner plans to begin extensive renovations at the property.</p><p class="">Heller Industrial Park built the 254,425-square-foot distribution warehouse in 1970, designing it for two tenants. The asset features 37 exterior loading docks, one drive-in door, 20-foot ceiling heights, 113 trailer positions, 40-foot-by-40-foot column spacing, Indiana Harbor Belt rail service and ample land for outside storage.</p><p class="">The property is located approximately 6 miles from Midway International Airport, 25 miles from O’Hare International Airport and 16 miles from Chicago’s Loop. Access to the warehouse can be made via interstates 55 and 294.</p><p data-rte-preserve-empty="true" class=""></p><p class="">Article by <a href="https://www.cpexecutive.com/author/roxana-baiceanu/" target="_blank">Roxana Baiceanu </a>as featured at <a href="https://www.cpexecutive.com/post/nai-hiffman-arranges-sale-of-chicago-area-industrial-facility/" target="_blank">Commercial Property Executive</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=QBfyDfvxR5Q:nNXTST3AVH0:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Tue, 05 Nov 2019 14:35:57 Z NAI Hiffman NAI Hiffman Arranges Sale of Chicago-Area Industrial Facility https://www.hiffmanblog.com/blog/2019/11/5 2019-11-05 14:35 +00:00 2019-11-05 08:35 -06:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5dbc7703683e37527a377206 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/J7n0rgmBUJE/1 Congratulations to our 2019 Charity Dodgeball Tournament champions Rose Paving! <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572632393578-ZDV1HHFFLWTAZQDFAR9X/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/The-Champs-2019.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="The-Champs-2019.jpg" data-load="false" data-image-id="5dbc773879ff0d77441dcb38" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572632393578-ZDV1HHFFLWTAZQDFAR9X/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/The-Champs-2019.jpg?format=1000w" /> <p class="">Thank you to our many sponsors, competitors, volunteers, vendors, and hosts at The Odeum Sports &amp; Expo Center for helping us make this year even better than the last. In the week to come, we will be sharing the total amount raised for Ronald McDonald House Charities and some of our favorite photos from the event.</p> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572632479213-Y0YW6L55LJTW9F1GK1U8/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/RMHC-Refs-2019.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="RMHC-Refs-2019.jpg" data-load="false" data-image-id="5dbc778d3378e2100d670782" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572632479213-Y0YW6L55LJTW9F1GK1U8/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/RMHC-Refs-2019.jpg?format=1000w" /> <p class="">Thank you to our referee squad from Ronald McDonald House Charities.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=J7n0rgmBUJE:id7NWNpJzTs:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 01 Nov 2019 18:25:53 Z NAI Hiffman Congratulations to our 2019 Charity Dodgeball Tournament champions Rose Paving! https://www.hiffmanblog.com/blog/2019/11/1 2019-11-01 18:25 +00:00 2019-11-01 13:25 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5db7257e9ba6f4255a96040c http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/EpvqKmo40x0/28 #HiffmanHappenings | Annual Karaoke Night Photos <p class="">Our annual karaoke night was another legendary success! Thanks to everyone that dared to sing and/or sing along! #HiffmanHappenings #InsideNAI #CRE #Trusted</p> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572283876149-BG182MMVBTHE9FV36VN3/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/juan.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="juan.jpg" data-load="false" data-image-id="5db725c21d59723801766f55" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572283876149-BG182MMVBTHE9FV36VN3/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/juan.jpg?format=1000w" /> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572283945088-09QG0R35HYHEQX7ZTA7I/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/crowd.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="crowd.jpg" data-load="false" data-image-id="5db726071cdea779a769693e" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572283945088-09QG0R35HYHEQX7ZTA7I/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/crowd.jpg?format=1000w" /> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572296198834-Y0GYC0VQRLENF3EKW31P/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/duet.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="duet.jpg" data-load="false" data-image-id="5db755da7bb9f82f37189b91" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572296198834-Y0GYC0VQRLENF3EKW31P/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/duet.jpg?format=1000w" /> <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572295961720-E6L5CHSHD761UXV9ZHGT/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/enzo.jpg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="enzo.jpg" data-load="false" data-image-id="5db75512d866e53bfd2c6467" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572295961720-E6L5CHSHD761UXV9ZHGT/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/enzo.jpg?format=1000w" /><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=EpvqKmo40x0:4m-KXPqKDgg:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 28 Oct 2019 20:57:07 Z NAI Hiffman #HiffmanHappenings | Annual Karaoke Night Photos https://www.hiffmanblog.com/blog/2019/10/28 2019-10-28 20:57 +00:00 2019-10-28 15:57 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5db3168d9ca653175a622a3e http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/DWCfRtZvuC8/25 Duke’s Glendale Hts. Spec Industrial Lands Full-Building Tenant <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572017924007-ZYP1JL9Q3O4IPSGWUHU5/ke17ZwdGBToddI8pDm48kNDghJN0XsmwD4vCynZyHsZZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIko-QLIihEc4u5gAfVzuFxSgWZcHra4LzX3Xqk8KJ3OkKMshLAGzx4R3EDFOm1kBS/image-asset.jpeg" data-image-dimensions="820x510" data-image-focal-point="0.5,0.5" alt="" data-load="false" data-image-id="5db31702c1f56d3938c717a2" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1572017924007-ZYP1JL9Q3O4IPSGWUHU5/ke17ZwdGBToddI8pDm48kNDghJN0XsmwD4vCynZyHsZZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIko-QLIihEc4u5gAfVzuFxSgWZcHra4LzX3Xqk8KJ3OkKMshLAGzx4R3EDFOm1kBS/image-asset.jpeg?format=1000w" /> <p class="">Cawley Chicago principal Frank Melchert recently represented tenant Coda Resources on a 183,296-square-foot lease transaction at 990 North Ave. in Glendale Heights, IL. Duke Realty developed this speculative building in December of 2018, and Coda now occupies 100% of the building.</p><p class="">“New construction, state of the art amenities and premier location&nbsp;with visibility and good access to labor&nbsp;are what attracted Coda Resources to the building,” said Melchert.</p><p class="">Kelly Disser, Eric Tresslar and Michael Freitag with NAI Hiffman represented Duke Realty in this transaction.</p><p class="">As seen at <a href="https://www.connect.media/dukes-glendale-hts-spec-industrial-lands-full-building-tenant/">Connect Chicago</a></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=DWCfRtZvuC8:GM9CdGEsYyo:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 25 Oct 2019 15:38:58 Z NAI Hiffman Duke’s Glendale Hts. Spec Industrial Lands Full-Building Tenant https://www.hiffmanblog.com/blog/2019/10/25 2019-10-25 15:38 +00:00 2019-10-25 10:38 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5db1f89b0998ac76f40d58f8 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/jbyaamw5QF8/24 NAI Hiffman arranges $17M sale-leaseback deal <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1571944691443-4JMOZQFBNFJF84F2VG9X/ke17ZwdGBToddI8pDm48kPgO36ywX3SGkx7H5i_WdkxZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIZekV67UQXiN_yITOihsYdotKA5qd8lvlYclnwBblTLAKMshLAGzx4R3EDFOm1kBS/yi.jpg" data-image-dimensions="800x305" data-image-focal-point="0.5,0.5" alt="yi.jpg" data-load="false" data-image-id="5db1f8f30998ac76f40d60e6" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1571944691443-4JMOZQFBNFJF84F2VG9X/ke17ZwdGBToddI8pDm48kPgO36ywX3SGkx7H5i_WdkxZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIZekV67UQXiN_yITOihsYdotKA5qd8lvlYclnwBblTLAKMshLAGzx4R3EDFOm1kBS/yi.jpg?format=1000w" /> <p class="">OAKBROOK TERRACE -- NAI Hiffman said it has completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment.</p><p class="">The assets, which sold for $17.1 million, include the company's 95,000-square-foot headquarters building at 2260 Wendt St. in Algonquin, as well as the firm's three manufacturing and distribution facilities, totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.</p><p class="">Young Innovations will maintain operations at all properties under a 20-year lease with the buyer, New York-based New Mountain Net Lease.</p><p class="">The sale, brokered by Pat Sullivan, executive vice president, and Ryan Chambers, vice president of NAI Hiffman's Capital Markets Group, marks the sixth single-tenant sale-leaseback transaction executed by the firm's Capital Markets Group over the past 24 months. Together, they comprised 16 assets across seven states that, collectively, were valued at nearly $120 million.</p><p class="">"Through sale-leaseback transactions, companies like Young Innovations are able to capitalize on strong pricing without any disruption to their business, in many cases reinvesting proceeds to support future growth," said Sullivan. "These transactions also provide the steady, predictable returns that many investors seek."</p><p class=""><a href="https://www.dhbusinessledger.com/business/20191016/nai-hiffman-arranges-17m-sale-leaseback-deal">As seen at Daily Herald Business Ledger</a></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=jbyaamw5QF8:lFknX_HGnCQ:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 24 Oct 2019 19:18:26 Z NAI Hiffman NAI Hiffman arranges $17M sale-leaseback deal https://www.hiffmanblog.com/blog/2019/10/24 2019-10-24 19:18 +00:00 2019-10-24 14:18 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5da7618ed2d7bf603d827392 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/B2Bme5brcVM/11-4amx9-la9pe-kw6ps-7b85y-6adls-3yzl4 Research Market Peek Industrial Office Third Quarter 2019 Market Peek <body rightmargin="0" leftmargin="0" topmargin="0"> <table border="0" bgcolor="#F1EDEE" cellpadding="0" width="100%" cellspacing="0" class="OuterBGColor"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="Body"> <table border="0" cellpadding="0" width="100%" cellspacing="0" class="TopMarginBGColor"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center"> <table border="0" cellpadding="0" width="1" cellspacing="0" class="TopMarginWidth"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="TopMargin"> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="1" cellspacing="0" class="MainWidth"> <tbody> <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"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="center"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="Top"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> Third Quarter 2019 Market Peek &nbsp; </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK4"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>NAI Hiffman is pleased to present the Third Quarter 2019 Market Peek, a first look at the market statistics for the Chicago metropolitan office and industrial real estate markets.</span> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK5"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" class="MainText Image"><br> <a class="imgCaptionAnchor" rel="nofollow" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q2019-ticker.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/3Q2019/3Q2019-ticker.gif"></a></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK7"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Industrial: Construction Completions Totaled 9.0 Million Square Feet in the Third Quarter</span> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK8"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul> <li>More than 9.0 million square feet of industrial product was delivered during the third quarter, with 80.3 percent of those deliveries completed on a speculative basis and 9 of those buildings are larger than 300,000 square feet. Build-to-suit projects are still in demand, however, as nearly 3.0 million square feet of the 7.0 million square feet of new projects that broke ground in the third quarter were build-to-suits. Of the 23 total projects started in the last quarter, 5 of them were on a build-to-suit basis, reflecting an average building size of nearly 600,000 square feet.</li> </ul> <ul> <li>Year-over-year net absorption increased 37.4 percent over third quarter 2018 and now totals nearly 15.4 million square feet through the third quarter of 2019, compared to 11.2 million square feet through the same period last year. Fourteen companies took occupancy of spaces larger than 200,000 square feet during the quarter, including four tenants moving into recently-constructed facilities: Suncast Corporation in West Chicago (782,000 square feet), Kellogg's in Minooka (706,000 square feet), Thermoflex Corporation in Waukegan (228,000 square feet) and Bolke-Miller Co. in Waukegan (400,000 square feet). </li> </ul> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK9"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br> <a class="imgCaptionAnchor" rel="nofollow" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q2019-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/3Q2019/3Q2019-Industrial.jpg"></a></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK11"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"> <tbody> <tr> <td colspan="1" rowspan="1" class="mceSelected"><br></td> <td colspan="1" rowspan="1" class="mceSelected"> <strong><a rel="nofollow" track="on" href="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q19_Market_Statistics_Industrial.pdf" shape="rect" linktype="1" target="_blank">DOWNLOAD INDUSTRIAL MARKET PEEK</a>&nbsp;</strong> </td> <td colspan="1" rowspan="1"></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" rowspan="1" class="ContentDividerPadding"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK14"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <span>Office: Suburban Leasing Increased Over Previous Quarter; West Loop Absorption and New Leasing Activity Continues to Dominate Activity in the CBD</span> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK15" class=""> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>SUBURBS</b> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK16"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul> <li>The overall suburban vacancy rate decreased 14 basis points from the 18.70 percent recorded in the previous quarter to measure 18.56 at the end of the third quarter. Average asking rents increased for all asset classes in the third quarter, with Class A rents inching over $27.00 for the first time this year.</li> </ul> <ul> <li>Suburban new leasing activity has steadily increased each quarter this year and totaled 1.5 million square feet, to bring the year-to-date total to 4.4 million square feet. Some of the largest new leases signed during the third quarter included Centene Corporation in Burr Ridge (90,000 square feet), Stericycle in Bannockburn (36,000 square feet) and AveXis in Deerfield (28,000 square feet). </li> </ul> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK17"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br> <a class="imgCaptionAnchor" rel="nofollow" track="on" shape="rect" href="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q2019-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/3Q2019/3Q2019-Suburbs.jpg"></a></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK39"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="TitleText Title"> <b>CBD</b> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK19"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> <ul> <li>New leasing activity increased 60.3 percent over the 2.0 million square feet leased during the second quarter and totaled nearly 3.1 million square feet third quarter. Both the East and West Loop submarkets hit significant numbers in leasing, doubling over the previous quarter. The West Loop increased by 129 percent and totaled 2.1 million square feet, supported by new leases signed at the Old Post Office including Uber (466,000 square feet), CBOE Global Markets (185,000 square feet) and Federal Home Loan Bank of Chicago (130,000 square feet).</li> </ul> <ul> <li>The overall vacancy rate in the Central Business District decreased 17 basis points from the second quarter, to measure 12.24 percent at the end of the third quarter. Net absorption was positive for the third consecutive quarter and totaled 350,111 square feet. Tenants contributing to third quarter absorption included Intrinsic 2 Charter High School at the Bell Federal building (76,000 square feet), Industrious at 231 S LaSalle (53,000 square feet), and WeWork at One S Dearborn (53,000 square feet).</li> </ul> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK20"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="center" class="MainText Image"><br> <a class="imgCaptionAnchor" rel="nofollow" track="on" href="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q2019-Downtown.jpg" shape="rect" target="_blank"><img height="257" vspace="0" border="0" hspace="0" width="372" class="cc-image-resize" src="http://www.hiffman.net/CC/marketpeek/3Q2019/3Q2019-Downtown.jpg"></a></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK22"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="SubtitleText Subtitle"> <table cellpadding="3" cellspacing="0" align="center"> <tbody> <tr> <td colspan="1" rowspan="1"><br></td> <td colspan="1" rowspan="1"> <strong><a rel="nofollow" track="on" href="http://www.Hiffman.net/CC/marketpeek/3Q2019/3Q19_Market_Statistics_Office.pdf" shape="rect" linktype="1" target="_blank">DOWNLOAD OFFICE MARKET PEEK&nbsp;</a></strong> </td> <td colspan="1" rowspan="1"></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" rowspan="1" class="ContentDividerPadding"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK16"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="MainText Content"> Learn More <br></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0" id="content_LETTER.BLOCK26"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="Content"> <table cellpadding="3" cellspacing="0" align="none"> <tbody> <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> </tbody> </table> </td> </tr> </tbody> </table></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" rowspan="1" valign="top" align="left" class="Middle"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" bgcolor="#F1EDEE" rowspan="1" valign="top" align="center" class="SideColumnBGColor"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="middle" align="center" class="SideColumn"> </td> </tr> </tbody> </table> 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cellpadding="0" width="100%" cellspacing="0" class="BottomMarginBGColor"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center"> <table border="0" cellpadding="0" width="1" cellspacing="0" class="BottomMarginWidth"> <tbody> <tr> <td colspan="1" rowspan="1" width="100%" valign="top" align="center" class="BottomMargin"> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table> <table border="0" cellpadding="0" width="100%" cellspacing="0"> <tbody> <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="https://img.constantcontact.com/letters/images/sys/S.gif"></td> </tr> </tbody> </table></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </body> </html><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=B2Bme5brcVM:b4wdhjSg5Vk:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 16 Oct 2019 18:36:17 Z NAI Hiffman Third Quarter 2019 Market Peek https://www.hiffmanblog.com/blog/2018/4/11-4amx9-la9pe-kw6ps-7b85y-6adls-3yzl4 2019-10-16 18:36 +00:00 2019-10-16 13:36 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d97b384cfcd403eddf3a4bd http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/ZbYQ1mTlwag/4-1 Office Redeveloped Concourse Chicago draws corporate relocations to O'Hare submarket <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1570223142506-1AY4KNWZRS6TJL0AT7SK/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/image-asset.jpeg" data-image-dimensions="2500x1667" data-image-focal-point="0.5,0.5" alt="" data-load="false" data-image-id="5d97b412dcae9f267c995df3" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1570223142506-1AY4KNWZRS6TJL0AT7SK/ke17ZwdGBToddI8pDm48kLkXF2pIyv_F2eUT9F60jBl7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0iyqMbMesKd95J-X4EagrgU9L3Sa3U8cogeb0tjXbfawd0urKshkc5MgdBeJmALQKw/image-asset.jpeg?format=1000w" /> <p class=""><a href="http://www.naihiffman.com/">NAI Hiffman</a> and <a href="https://www.bergerchicago.com/">Berger Asset Management</a> have secured three leases totaling approximately 8,900 square feet of space at Concourse Chicago. Berger <a href="https://www.rejournals.com/nai-hiffman-represents-ownership-in-sale-and-leasing-of-of%EF%AC%81ce-complex-20180605">acquired the 12-building complex in 2018</a> and is currently renovating and repositioning the property, located in the O’Hare submarket.</p><p class="">The transformation is turning the property into a vibrant, 165,000-square-foot office campus and co-working space. The three new tenants represent a satellitte office from an Elgin, Illinois-based firm and two relocations from the Chicago CBD and from the neighboring Presidents Plaza.</p><p class="">“These three leases, and the companies behind them, tell the story of the opportunity in the market for a property like Concourse Chicago,” said Steve Chrastka. He and with Jason Wurtz are the exclusive leasing representative for the property on behalf of NAI Hiffman. “By building a new amenity center for tenants that has a fitness center, meeting rooms, a tenant lounge and outdoor seating areas with Wi-Fi, Berger Asset Management is speaking to tenants across the street, in the central loop or in a suburban office as far as 30 miles away.”</p><p class="">The newest tenant is <a href="https://www.bws.net/en">Blue Water Shipping</a>, represented by Jake Spinell and Jon Connor from <a href="https://www2.colliers.com/en">Colliers International</a>. The company executed a lease for approximately 3,900 square feet at 8605 W. Bryn Mawr and is relocating from Presidents Plaza located across the street from Concourse Chicago.</p><p class="">In relocating from the nearby, Class A, multi-story building, the international transport and logistics company has elected to stay close to the Blue Line and other elements of this convenient location while cutting their rent nearly in half. Additionally, Blue Water Shipping will have a more collaborative office environment and be able to take advantage of the exterior common areas and 24/7 control of their heating and cooling systems.</p><p class="">In the second transaction, <a href="https://www.greenofficepartner.com/">Green Office Partner</a> completed a lease for 3,700 square feet, represented by Steve Goldstein of <a href="http://www.jamesoncommercial.com/">Jameson Commercial</a>. The company, which delivers managed print services, occupies space in the building located at 8601 W. Bryn Mawr after relocating from downtown Chicago in search of lower rent and more convenient access for employees.</p><p class="">The location of Concourse Chicago was particularly appealing as it provides convenient access to the CTA Blue Line and a network of highways and roadways that allow Green Office Partners to recruit talent that prefers living in the city. Additionally, the ability to create its own identity with brand new office buildout in an essentially new complex.</p><p class="">Finally, John Cassidy with <a href="https://www.lee-associates.com/">Lee Associates</a> represented Great Lakes Technology in their 1,500-square-foot lease at the 8601 W. Bryn Mawr building. The location will serve as a satellite office for the Elgin-based technology firm.</p><p class="">A satellite sales office in the O’Hare market allows Great Lakes Technology immediate access to the Blue Line to attract and retain employee talent from the city. Further, Great Lakes Technology has leased one of the spec suites at Concourse Chicago which allowed them to expedite their occupancy.</p><p class="">“We’re seeking to change an industry mindset, and fill a void for tenants,” said Jonathan Berger, founder, Berger Asset Management. “We are able to offer tenants in the market a 20 to 40 percent savings on their occupancy costs. We are now offering newly built-out office space, coworking spaces, a fitness center, common tenant lounge, free coffee, meeting rooms and new outdoor gathering spaces for our tenants to take advantage of. Plus, Concourse Chicago is only a 700 step walk to the Blue Line, and sits at the intersection of several major highways.”</p><p class="">With that in mind, Berger and his team are completely remaking Concourse Chicago. The 12-building office complex located immediately south and west of the Kennedy Expressway at the Cumberland Avenue exit. Since its acquisition the investment and management firm has undertaken a comprehensive, multi-million-dollar renovation and repositioning program.</p><p class="">As seen in <a href="https://www.rejournals.com/redeveloped-concourse-chicago-draws-corporate-relocations-to-o-hare-submarket-20191004.aspx">REJournals</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=ZbYQ1mTlwag:HxJqdC0efpY:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 04 Oct 2019 21:06:40 Z NAI Hiffman Redeveloped Concourse Chicago draws corporate relocations to O'Hare submarket https://www.hiffmanblog.com/blog/2019/10/4-1 2019-10-04 21:06 +00:00 2019-10-04 16:06 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d979db57723d90b81c23e17 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/FXAgMtpWCzA/4 Industrial DuPage Business Center riding a wave and building lasting momentum <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1570217619293-S73JD2XKXXD5EF5T5U16/ke17ZwdGBToddI8pDm48kHJJF-il6iNCW3T1qWM3vqIUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc0vLs71R4wk_uyvBjmkNSpu0vpTFkpdILgD-NgvBYHvbxCT0tDwZ1qj_LjMuqO96I/DBC+Monument+-+West+Chicago.jpg" data-image-dimensions="1222x696" data-image-focal-point="0.5,0.5" alt="DBC Monument - West Chicago.jpg" data-load="false" data-image-id="5d979e9026106630aa9c5e67" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1570217619293-S73JD2XKXXD5EF5T5U16/ke17ZwdGBToddI8pDm48kHJJF-il6iNCW3T1qWM3vqIUqsxRUqqbr1mOJYKfIPR7LoDQ9mXPOjoJoqy81S2I8N_N4V1vUb5AoIIIbLZhVYxCRW4BPu10St3TBAUQYVKc0vLs71R4wk_uyvBjmkNSpu0vpTFkpdILgD-NgvBYHvbxCT0tDwZ1qj_LjMuqO96I/DBC+Monument+-+West+Chicago.jpg?format=1000w" /> <p class="">The DuPage Business Center is an enviable position to maintain the momentum that has been building over nearly three years has resulted in more than 270 acres being sold or under contract.</p><p class="">Results like those don't just happen. They result from deliberate effort and tremendous support. And it doesn't hurt to have been in the midst of one of the greatest economic booms and industrial real estate cycles.</p><p class="">As we market DuPage Business Center, highlighting this recent activity and promoting the opportunity that exists within the center's remaining 110 acres, we attribute the Center's success to:</p><ul data-rte-list="default"><li><p class="">Development flexibility -- Opportunity for development within the park expanded significantly in 2017 with the expiration of a 10-year, exclusive agreement with a national industrial firm to develop the park.</p></li></ul><p class="">Most other parks in the area are developer controlled and they are only interested in leasing space. DuPage Business Center can accommodate developers and users who want to acquire land and build their own buildings. We also have the ability to deliver a build to suit for sale or lease for companies that don't have that expertise.</p><p class="">This flexibility sets us apart from the competition. To underscore this advantage, today there are 7 different groups that control 260 acres and are in varying stages of development of 3.3 million square feet of space.</p><ul data-rte-list="default"><li><p class="">Shift in Positioning/Market Perception -- Further broadening the marketability and appeal of the DuPage Business Center was an intentional shift in 2012 away from aggressively marketing the business park as a technology center. As part of that process, the DuPage Technology Park officially became the DuPage Business Center. This bolsters the message that all businesses are welcome there.</p></li><li><p class="">DuPage Airport Authority and West Chicago: Pro-Business -- Since the business center was originally launched in 2006, the DuPage Airport Authority, West Chicago and several of the local West Chicago governmental entities have always been strong advocates for development and has contributed valuable incentives to help attract all types of businesses, including developers. The strategy has paid off as four of the businesses now located with the park came from locations outside of West Chicago.</p></li><li><p class="">Riding the Industrial Wave -- The strength of the industrial market has been witnessed across the Chicago metropolitan area, in virtually all of the various submarkets. According to the most recent statistics from NAI Hiffman, the demand for space remains strong, including in the Fox Valley Corridor where the vacancy rate is 4.44 percent. One year ago the rate was 3.67 percent and in 2017 it was 6.38 percent. In the neighboring I-88 corridor, the vacancy rate is 5.09 percent. One year ago the rate was 4.82 percent and in 2017 it was 4.83 percent.</p></li></ul><p class="">The marketplace, Chicago overall and submarkets like the Fox Valley and I-88 Corridor, has been incredibly strong. With the available supply shrinking, strong demand for land continues to exist.</p><p class="">With sales totaling 75 acres that already have closed in 2019 and two additional parcels totaling 48 acres under contract, NAI Hiffman says land remaining available for development at DuPage Business Center now totals 110 acres. Lot sizes range from 5 to 46 acres. Depending on uses and design configurations, this means sites likely could accommodate users from 50,000 square feet to 800,000 square feet.</p><p class="">Successful projects in the I-88 and Fox Valley submarkets have historically been in the 200,000 to 500,000-square-foot range. DuPage Business Center is uniquely positioned to capitalize on that segment of the market. According to NAI Research, since 2017 the average size of a newly constructed industrial development (minimum of 100,000 square feet) has decreased from 302,900 square feet in 2017 to 177,100 square feet on 2018 to a midyear 2019 size of 174,400 square feet.</p><p class="">Smaller companies who want to own their own buildings have very limited option unless they are willing to move to the outskirts of Metro Chicago. We can offer fully improved sites in an established business park with off-site detention which is rare. We expect demand for smaller sites to come from smaller users. Most developers cannot achieve economies of scale building small speculative buildings.</p><p class="">With the range of parcels available, DuPage Business Center is well positioned in the market to meet the ongoing demand of users in the market, whether that's through a build-to-suit development or a developer putting up a spec project. As long as interest rates continue to be relatively low, business owners can find competitive financing for the purchase of land and buildings. Obviously if that changes we could see a slowdown in overall activity but as long as the fundamentals remain strong we don't see "being long in the cycle" as an issue.</p><p class="">Mark Moran, an Executive Vice President at NAI Hiffman who along with John Whitehead and Jim Adler has been marketing the park since 2017 says, "The combination of these factors has been the perfect storm for a sustained run of activity that has seen 70 percent of available land at the DuPage Business Center in varying stages of the disposition process."</p><p class="">Mark Moran is an executive vice president with NAI Hiffman in Oakbrook Terrace.</p><p class="">As seen in <a href="https://www.dhbusinessledger.com/business/20190912/dupage-business-center-riding-a-wave-and-building-lasting-momentum?utm_campaign=Business%20Edge%20Alert%20PM9%2F13%2F2019&amp;utm_content=article%20column&amp;utm_medium=email&amp;utm_source=business%20edge%20alert%20PM">Daily Herald Business Ledger</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=FXAgMtpWCzA:JquYrkCT_lk:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Fri, 04 Oct 2019 19:34:39 Z NAI Hiffman DuPage Business Center riding a wave and building lasting momentum https://www.hiffmanblog.com/blog/2019/10/4 2019-10-04 19:34 +00:00 2019-10-04 14:34 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d83b307e650e2604a32b94e http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/_W6jCC-OsVY/19 REmark Research September REmark | Construction Deliveries as a Percent of Inventory 2014-2019 <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1568916933735-1ZL3IX6TB0A3XKC88SHX/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/NAIHiffman-REmark-September-2019-01.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="NAIHiffman-REmark-September-2019-01.jpg" data-load="false" data-image-id="5d83c5c395435764aa29d442" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1568916933735-1ZL3IX6TB0A3XKC88SHX/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/NAIHiffman-REmark-September-2019-01.jpg?format=1000w" /> <p class="">In our last industrial-focused REmark, we noted that 90.4 million square feet of new product was delivered to the Chicago industrial market since 2014. 27.6% of that total was completed in just two of the 21 submarkets that we track – the I-80/Joliet and I-55 Corridor submarkets. We have further discovered that, while overall inventory grew by 7.9%, five submarkets experienced growth greater than 10.0% - I-80/Joliet Corridor, Southeast Wisconsin, I-55 Corridor, I-57/Will Corridor, and I-90 Northwest. The remaining 16 submarkets grew by an average of 4.3% over the same time period, with three submarkets experiencing growth of less than 1.0% - South Cook, Chicago North, and McHenry County. Another 18.8 million square feet remains in the construction pipeline, with 7 submarkets poised to add more than 1.0 million square feet each by the end of 2020.</p><p class="">We invite you to click the image above to download our complete REmark for all of our observations. For more information contact NAI Hiffman’s Director of Research, Amanda Ortiz at 630 693 0645 or <a href="mailto:aortiz@hiffman.com">aortiz@hiffman.com</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=_W6jCC-OsVY:-Ie_HFu-sL8:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 19 Sep 2019 17:00:03 Z NAI Hiffman September REmark | Construction Deliveries as a Percent of Inventory 2014-2019 https://www.hiffmanblog.com/blog/2019/9/19 2019-09-19 17:00 +00:00 2019-09-19 12:00 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d668fc0947e88000125568c http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/SwrNeKNWsBU/28 August REmark | New Leasing Activity in the Suburbs <a href="https://www.hiffmanblog.com/s/NAI-REmark-082118-c3zl.pdf" > <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1567002575097-CU7K0CER3LGEDBCFYNQJ/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/Social-Post-1.jpg" data-image-dimensions="1080x1080" data-image-focal-point="0.5,0.5" alt="Social-Post-1.jpg" data-load="false" data-image-id="5d668fcdcf618600011e6e6b" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1567002575097-CU7K0CER3LGEDBCFYNQJ/ke17ZwdGBToddI8pDm48kJK4Mm1kch8SFO9ZNkN1NT97gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QHyNOqBUUEtDDsRWrJLTmFk_H6M1tkD9NpL7mXac0oVSXdFfjxR5AjcLwGSebOiGBsFzzcw3xKxvyC_6CFFG_/Social-Post-1.jpg?format=1000w" /> </a> <p class="">Despite reports of companies relocating to the Central Business District (CBD), new leasing activity for large blocks of space (greater than 20,000 square feet) have remained strong in the Chicago suburban market over the last five years. In fact, large leasing activity has <em>increased</em> every year in the East-West Corridor and O’Hare submarkets. While leases in this size range peaked in 2015 for both the North and Northwest markets, activity in the Northwest submarket appears to have stabilized in the last few years and is on pace to duplicate the average square footage experienced in 2016 - 2018. Additionally, nearly 30 new leases greater than 100,000 square feet were signed in the suburban market since 2014, including Caterpillar, Houghton Mifflin Harcourt Company, Amita Health Medical Group, ALDI U.S., U.S. Cellular Corporation, and Paylocity; signaling that the suburban market remains a viable option for companies seeking to relocate a considerable footprint.</p><p class="">We invite you to click the image above to download our complete REmark for all of our observations. For more information contact NAI Hiffman’s Director of Research, Amanda Ortiz at 630 693 0645 or <a href="mailto:aortiz@hiffman.com">aortiz@hiffman.com</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=SwrNeKNWsBU:s6t8daKpZDA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Wed, 28 Aug 2019 14:54:11 Z NAI Hiffman August REmark | New Leasing Activity in the Suburbs https://www.hiffmanblog.com/blog/2019/8/28 2019-08-28 14:54 +00:00 2019-08-28 09:54 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d6431326609340001d7049d http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/4_y2i-UMh28/26 We're growing! <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1566847427805-G1CCV2J4KUUOB6XLKYF6/ke17ZwdGBToddI8pDm48kPpq9OX_PxGyT7Zz-jcDNSt7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0p4Wyba38KfG317vYluk45-7WP-uKq5XctM1jXMfMtRG4oAaCu701lODySgFuQxNUw/image-asset.jpeg" data-image-dimensions="2500x1306" data-image-focal-point="0.5,0.5" alt="" data-load="false" data-image-id="5d6431afe074e40001195dc8" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1566847427805-G1CCV2J4KUUOB6XLKYF6/ke17ZwdGBToddI8pDm48kPpq9OX_PxGyT7Zz-jcDNSt7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z4YTzHvnKhyp6Da-NYroOW3ZGjoBKy3azqku80C789l0p4Wyba38KfG317vYluk45-7WP-uKq5XctM1jXMfMtRG4oAaCu701lODySgFuQxNUw/image-asset.jpeg?format=1000w" /> <p class="">Join our growing, dynamic team! Forward resumes to <a href="mailto:resumes@hiffman.com">resumes@hiffman.com</a>. </p><p data-rte-preserve-empty="true" class=""></p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=4_y2i-UMh28:VuGUidxw9A4:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Mon, 26 Aug 2019 19:25:57 Z NAI Hiffman We're growing! https://www.hiffmanblog.com/blog/2019/8/26 2019-08-26 19:25 +00:00 2019-08-26 14:25 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d42f661bdc797000120dc36 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/k0xQ7Bfy5C0/1 #tenantfest 2019 Wrap-up <img data-load="false" data-image-focal-point="0.5138888888888888,0.5300546448087432" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1564669942992-VX9MHIS139LWUYXD7UCU/ke17ZwdGBToddI8pDm48kFemg6NFH5Y_03YKYFznX-JZw-zPPgdn4jUwVcJE1ZvWQUxwkmyExglNqGp0IvTJZamWLI2zvYWH8K3-s_4yszcp2ryTI0HqTOaaUohrI8PIU0SaPa1KU7bjig6QQPhBlcZChHRFTQrBk1SUDz5kqwMKMshLAGzx4R3EDFOm1kBS/thumb.jpg?format=1000w" /><p class="">NAI Hiffman is pleased to have completed our second annual #tenantfest event at NAI Hiffman managed properties across the Midwest. &nbsp;We enjoyed celebrating all things summer with the tenants we serve! Earlier this week we announced the winner of our #tenantfest #Lollapalooza2019 ticket giveaway. Congratulations to Emily Easterly, winner of two 4-day passes to Lollapalooza! </p><p class="">Thank you to everyone that participated. Join us next summer for NAI Hiffman #tenantfest2020!</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=k0xQ7Bfy5C0:g17LaqJxj6Y:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 01 Aug 2019 14:36:10 Z NAI Hiffman #tenantfest 2019 Wrap-up https://www.hiffmanblog.com/blog/2019/8/1 2019-08-01 14:36 +00:00 2019-08-01 09:36 -05:00 50b4f61de4b0699441ebf315:51754a18e4b0280270e59fdd:5d39ac7da209930001f8c614 http://feedproxy.google.com/~r/NaiHiffmanBlog/~3/6_ynnPF9gt4/25 Suburban executives recognized for excellence <img class="thumb-image" data-image="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1564064782744-5DJA7LDOUFZMPUUMEXHR/ke17ZwdGBToddI8pDm48kJbHZRZhqKMPf6er-IcbcYx7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QPOohDIaIeljMHgDF5CVlOqpeNLcJ80NK65_fV7S1Ubo7g1JPGou-YrJOTCWBTi7L3RUy9GmTxb9UO8TV99icckN8YfsLXRIlXOtOxTMY9Q/c-suite.jpg" data-image-dimensions="2037x1202" data-image-focal-point="0.5,0.5" alt="c-suite.jpg" data-load="false" data-image-id="5d39bc054bb37f0001cc97e8" data-type="image" src="https://images.squarespace-cdn.com/content/v1/50b4f61de4b0699441ebf315/1564064782744-5DJA7LDOUFZMPUUMEXHR/ke17ZwdGBToddI8pDm48kJbHZRZhqKMPf6er-IcbcYx7gQa3H78H3Y0txjaiv_0fDoOvxcdMmMKkDsyUqMSsMWxHk725yiiHCCLfrh8O1z5QPOohDIaIeljMHgDF5CVlOqpeNLcJ80NK65_fV7S1Ubo7g1JPGou-YrJOTCWBTi7L3RUy9GmTxb9UO8TV99icckN8YfsLXRIlXOtOxTMY9Q/c-suite.jpg?format=1000w" /> <p class="">The importance of building strong company cultures was the thread that connected 15 suburban executives recognized Wednesday at the 2019 C-Suite Awards, sponsored by the Daily Herald Business Ledger and its partners.</p><p class="">The eighth annual awards, held at Medinah Shriners Banquets in Addison, honors executives who contribute to the success of their businesses, as well as the region's economic growth and stability. Honorees are judged on their company's overall growth, commitment to good ethics and involvement in the community. The businesses or organizations they represent must have a presence within the Business Ledger's suburban Chicago footprint.</p><p class="">Keynote speaker Matt Stock, president and owner of U.S. Waterproofing, shared with the group of more than 100 how marketing helped build his third generation family business into a household name, growing its revenue by 800 percent. The company had to overcome a number of challenges to build a brand that "brings humanity and personality" to the company, including struggling with using the term "seepage" in its message.</p><p class="">"To the CFOs in the room, when marketing is done real well, it can be a significant revenue generator," Stock said "TO the CEOs of the room, I hope I demonstrated the importance of branded messaging. If I had stuck with the word 'seepage,' I probably wouldn't be here."</p><p class="">Many of the honorees, in accepting their awards, pointed to their employees as the core for their company's success.</p><p class="">"Clark doesn't really have a C-Suite," said J. Lyell Clark, president and CEO of Clark in St. Charles. "It has a suite of 165 co-workers with this amazing passion of this public health business."</p><p class="">Austin Dempsey, CEO of Batavia Enterprises, added one of the goals of executives is to "surround ourselves with the best people possible and empower them to achieve their greatest potential."</p><p class="">Dave Petersen, CEO of NAI Hiffman in Oakbrook Terrace, focused on leadership qualities.</p><p class="">"To build a strong team, you must see someone else's strength as a complement to your weakness and not as a threat to your position or authority," he said. "A leader's job is not to have all the ideas. It's to make sure the ideas are heard and the best one wins."</p><p class="">Detailed profiles of the honorees are online at dhbusinessledger.com and will appear in the Business Ledger's August issue, publishing Aug. 19.</p><p class="">Presenting sponsors for this year's awards are Republic Bank and B. Gunther &amp; Company. Marketing partners are MRA -- The Management Association and Small Business Advocacy Council.</p><p class="">As seen at <a href="https://www-dailyherald-com.cdn.ampproject.org/c/s/www.dailyherald.com/amp-article/20190724/business/190729543/" target="_blank">dhbuisnessledger.com</a>.</p><div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?a=6_ynnPF9gt4:OB55V24Uk0g:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/NaiHiffmanBlog?d=yIl2AUoC8zA" border="0"></img></a> </div> Thu, 25 Jul 2019 14:27:57 Z NAI Hiffman Suburban executives recognized for excellence https://www.hiffmanblog.com/blog/2019/7/25 2019-07-25 14:27 +00:00 2019-07-25 09:27 -05:00 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