Cawley Insights

Rezoning for Industrial Along the Chicago River

Posted by Dan Cawley on May 17, 2018 11:26:53 AM

 

An Industrial Corridor Modernization Initiative approved by Mayor Rahm Emmanuel is in the works for the North Branch Industrial Corridor of the Chicago River. With local authorities exploring the options for adding more industrial zones along the river, this would bring more businesses and jobs to Chicago. Many companies who could not expand or even begin their business in the city due to the strict zoning laws, were forced to relocate out of Chicago. As stated in the CP Executive article, “Developers will pay fees back to the fund and the Neighborhood Opportunity Bonus system has expanded to the southern portion of the corridor and a North Branch Corridor Bonus system in the northern part of the corridor was created.”

Read the complete article at cpexecutive.com

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Topics: Industrial, industrial real estate

Growth in the Multi-tenant Warehouse Segment

Posted by Dan Cawley on May 7, 2018 2:35:04 PM

Consumers have become accustomed to receiving their items within a few days as a result of companies like Amazon and Walmart. So how do other businesses keep up? They purchase smaller warehouses to break up the distribution and shorten the shipping time and costs. In the current market, businesses are purchasing smaller multi-tenant warehouses, rather than additional larger industrial buildings. 

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Topics: Industrial, industrial real estate, investment, office leasing

Congratulations to Cawley Chicago’s Very Own, Josh Hearne!

Posted by Dan Cawley on May 3, 2018 3:02:49 PM

SIOR Chicago announced the recipients of the Annual SIOR Chicago Transactions Awards. Cawley Chicago would like to congratulate Josh Hearne for receiving the 2017 award for Largest Dollar Volume Land Transaction with a Platinum Sponsor. Josh Hearne, SIOR of Cawley Chicago Commercial Real Estate represented Venture One Real Estate LLC, a Platinum Sponsor, for the sale of 143 acres in Channahon, IL valued at $6,229,080.

The 16th Annual SIOR Chicago Transaction Awards were held on March 27, 2018. The awards recognize SIOR members and Platinum sponsors for their distinguished transactions and accomplishments throughout the year.

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Topics: Awards, Brokers, leadership, office real estate, industrial real estate

Office Space in Sullivan Center Landmark Sold by JLL

Posted by Dan Cawley on Apr 30, 2018 1:28:29 PM

A new owner has acquired 833,000 SF in office space at the Sullivan Center in Chicago. According to the article on REBusiness Online, JLL Capital Markets have sold a portion of the building for $176 million to New York-based 601W Companies. In this competitive market, the creative office space and loft ceilings only increased JLL’s chances of finding the right buyer. Bruce Miller of JLL is quoted, “This asset received significant investor interest because of its excellent location and strong tenant base…catering to the progressive tenants driving demand in this market.” Click here to read the full article on REBusiness Online. 

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Topics: aquisition, Brokers, office real estate

Redevelopment in Store for Former OfficeMax HQ

Posted by Dan Cawley on Apr 26, 2018 2:17:43 PM

 

Ever-changing economic factors have left a handful of available office buildings vacant in the suburbs of Chicago. However, Franklin Partners recently purchased the former OfficeMax HQ located in Naperville and plan to redevelop the property. Noted in the article from Bisnow.com is the transformation Franklin Partners hope to achieve, which includes converting the building to a multi-tenant property. Capturing this Chicago style workplace and introducing it in the suburbs should attract more businesses to make the move out of the city. Click here to read the full article at Bisnow.com.

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Topics: Office, aquisition, office real estate

Growing interest in smaller last-mile buildings

Posted by Dan Cawley on Mar 28, 2018 2:38:22 PM

 By now, as the commercial real estate community knows well, Amazon and the likes have sought after large Class A warehouse space as the e-commerce demand continues to grow. We live in the time of larger spaces and shorter delivery times. The perfect solution to address this challenge is found in last-mile distribution facilities. This article from Bisnow.com addresses the hidden value in these 30,000 to 65,000 SF facilities often overlooked by major corporations, but are now seeing the limelight as sought after property along major transportation ways. Click here to read the full article at Bisnow.com.

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Topics: disposition, leasing, Industrial, aquisition, e-commerce, distribution, industrial real estate, tenant representation

Industrial Sector On Fire In Chicago

Posted by Dan Cawley on Mar 22, 2018 9:21:09 AM

The Chicago industrial real estate market is shows no signs of slowing down, and attracting investors from other sectors. In this article from Crain's Chicago, the ongoing e-commerce boom plays a large role in the recent success of the industrial real estate market. The article takes a look at financial statistics to support the reasoning behind the industrial sectors' success, while the other sectors sink to an under performing status. Read the full article at ChicagoBusiness.com

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Topics: e-commerce, office real estate, industrial real estate, investment

Big Box Developers Reach New Records

Posted by Dan Cawley on Feb 26, 2018 11:06:14 AM

With the rise in online shopping and demand for faster delivery times, there is a need and change in big box industrial development. The Chicago area saw a 13.76% increase in development in response to the booming e-commerce industry. Can vacancy rates keep up with the extra warehouse and distribution centers and how is e-commerce impacting some firms' distribution infastructure? Read more in this article from GlobeSt.com

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Topics: Industrial, e-commerce, distribution

Count on Industrial and Infastructure to be among big influencers on CRE in 2018

Posted by Dan Cawley on Feb 22, 2018 10:09:02 AM

Although early predictions for the commercial real estate market look slump, it is still considered a viable investment according a 2018 finding. This REJournals.com article features an interview exploring what exactly makes commercial real estate an attractive investment and the political implications facing the industry. Click here to read the original article on REJournals.com.

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Topics: Industrial

Industrial Sales Won't Take A Hit Despite Rising Interest Rates

Posted by Dan Cawley on Feb 15, 2018 2:47:32 PM

This article from GlobeSt.com discusses financials and the future of industrial real estate with a commercial real estate expert. "Even with rising interest rates, there is still room for cap-rate compression driven by projected NOI growth at the property level and the appetite for institutional investors to increase their allocation to industrial," Aaron Hill of Bixby Land Co tells GlobeSt.com. Read the full article at GlobeSt.com.

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