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CHICAGO-The Lucky Strike bowling and entertainment concept moves Downtown to 36,067 sf the second floor of the River East Center while a pharmacy is opening in 11,690 sf on the first floor, with an instant market of 620 condominiums in the same building.
CHICAGO-When it reopens next April to coincide with the company's 50th anniversary, the restaurant at 600 N. Clark St. will incorporate founder Ray Kroc's original "red and white" design as well as Wi-Fi. The chain's third-busiest US restaurant will double its seating and drive-thu capacities.
CHICAGO-American Freight Lines, ADC Telecommunications Sales, All Weather Products and Deco Labels sign deals with San Francisco-based AMB Property Corp. for space around the airport. The REIT is represented by Trammell Crow Co.'s Schaumburg office.
CHICAGO-Selling off remaining office building in non-core markets will result in proceeds about $146 million less than what Trizec Properties, Inc. has invested in them, the REIT reports.
CHICAGO-Shortages in cement, steel and rebar combined with heavy demand have driven up replacement costs in this market to $250 per sf, observes Parkway Properties Inc. president and chief executive officer Steven Rogers.
CHICAGO-"We're far from equilibrium, but we're headed in the right direction," says David R. Kahnweiler, SIOR, whose brokerage firm pegs industrial vacancy in the market at 9.5%. Also, brokers have been selling more space than leasing it, running counter to long-time trends.
CHICAGO-The office REIT gets $167,000 per acre for a retail site in Woodbridge, VA; $99 per sf for an office asset in Downtown Columbia, SC; and less than $90 per sf for a Downtown St. Louis office building.
CHICAGO-CB Richard Ellis pegs total vacancy at 18.4%, exacerbated by corporate mergers and reshufflings such as JPMorgan Chase's acquisition of Bank One, which puts another 580,000 sf of sublease space on the market.
SCHILLER PARK, IL-The $100-million redevelopment of seven oases by Wilton Partners and ExxonMobil rolls along with a 51,000-sf rest stop here as well as one in Belvidere. Next up are Hinsdale and DeKalb.
HANOVER PARK, IL-The company is moving from Northbrook to a building at 1040 Muirfield, one of several companies recently moving west into the northwest corner of DuPage County.