Chicago

The renovation is the second of a two-phase redevelopment project at Continental Towers, a 910,796-square-foot office complex located at 1701 Golf Road in Rolling Meadows, that began in 2015.

In Chicago, nearly half (47.9%) of that space is pre-leased. New York ranked as the top market, with 14.6 million square feet (21% pre-leased) followed by Washington, D.C. with 10.9 million square feet (61% pre-leased), and Dallas, with 7.8 million square feet (63.9% pre-leased).

Sziklas, who will take on the post on Sept.3 and will be based at LaSalle’s corporate headquarters in Chicago, will lead the team of portfolio managers for LaSalle’s U.S. Custom Accounts clients and will be responsible for actively managing portfolios of office, retail, multifamily and industrial investments located throughout the U.S.

The new ownership states it will invest significant capital into the building to maintain its heritage. Plans call for an upgraded lobby, a new spec suite program, and improved tenant lounge and fitness facility.

The properties acquired total a combined 317 units and increase the firm’s multifamily holdings in Chicago to 1,063 units and its total holdings in the Washington DC metro area to 1,169 units, according to John Williams, president and CIO at Avanath Capital Management.

Adaptive reuse projects will make up a greater percentage of investment activity than self-storage and other non-core property types by 2023

Fund VII will invest in the senior housing, healthcare, student housing, life sciences and storage sectors.

Since 2017, the Chicago area has seen a slight increase in investment within Opportunity Zones, while values in those areas have decreased.