Cawley Insights

Dan Cawley

Recent Posts

Chicago Industrial Vacancy Rate at its Lowest Since 2001

Posted by Dan Cawley on Aug 21, 2018 3:27:49 PM

 

In 2001, a gallon of gas was $1.46, Wikipedia launched online, and Apple released the first ever iPod. This was also the last time Chicago has seen one of its lowest vacancy rates in the industrial market. In the second quarter of 2018, the vacancy rate was at 6.44%.

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Topics: Industrial, e-commerce, industrial real estate, chicago, Vacancy Rate

Guide to Chicagoland Area Festivals -August

Posted by Dan Cawley on Aug 2, 2018 2:02:00 PM

 

Fall is right around the corner, but don't let that stop you from having fun. Extend your summer with these exciting events going on in the Chicagoland area! 

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Topics: summer, chicago, chicagoland, festivals

Guide to Chicagoland Area Festivals -July

Posted by Dan Cawley on Jun 28, 2018 2:23:11 PM

Get ready for good times and BBQ in July! From the city to the suburbs, we have you covered on what festivals you should visit to add more fun in your summer. 

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Topics: summer, chicago, chicagoland, festivals

Guide to Chicagoland Area Festivals - June

Posted by Dan Cawley on Jun 4, 2018 2:08:08 PM

Summer in Chicagoland is unlike any other. Whether you're soaking up the rays at the beach, running along the lakefront, or enjoying the array of cuisines, there are plenty of adventures to fill up your summer. Chicago prides itself on highlighting the melting pot of various neighborhoods throughout the city and the suburbs. Within these neighborhoods and the Chicagoland area, events take place every day in the summer; yes, every day!

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Topics: summer, chicago, chicagoland, festivals

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