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chi-state-farm (2) A joint venture between Transwestern Investment Group and JDM Partners made one of the most significant suburban acquisition of 2017 by buying the 2.1-million-square-foot State Farm campus in Tempe, AZ for $928 million.

CHICAGO—The US office investment market did cool a bit in 2017, but that was only after a few years of record-setting investment in several metro areas. And a solid fourth quarter slowed down the rate of decline. Furthermore, US real estate remains near the top of many investors’ wish lists, and with 2018 shaping up to be a robust year for the office market, the next year should see a good number of trades. But in a search for higher yields, many investors have started looking past the top CBDs and set their sights on suburban properties.

US office sales volume in the fourth quarter was $36.2 billion, according to a recent report from Colliers International, up from $28.7 billion in the third quarter. However, a slight uptick in volume in the fourth quarter is not unusual as buyers and sellers seek to close transactions before the year end. And total US office sales volume for 2017 was $131.9 billion, down by 8% over the year.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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