Chicago

“We have seen a lot of great leasing momentum at the Woodfield Preserve, as new firms have decided to relocate here and long-term tenants are renewing for extended terms,” says CBRE's Bill Elwood.

Listen to our exclusive audio interview with Tom Smith, co-founder of Truss about how the firm's technology platform offers full price transparency for tenants to compare coworking and traditional office space.

GlobeSt.com's sister publication, The Daily Business Review, is reporting that a nationwide putative class action lawsuit claims the National Association of Realtors and four leading broker franchisors of developing practices that stifle competition and allow for hiked commission prices. But the targets of the lawsuit call the allegations "baseless."

The acquisition was partially financed with tax credits from CREA, an Indianapolis-based full-service tax syndicator that specializes in affordable housing, and loan assumptions from the city of Chicago and the Illinois Housing Development Authority.

The new agreement extends United's existing lease to 2033. Blackstone is investing more than $500 million to transform the building from the inside out.

Patrick Kearney has been responsible for the acquisition, disposition and development of more than 35 million square feet and $8.5 billion of commercial and residential property.

Chicago remains one of the largest data center markets in the nation, boasting the fourth-largest capacity in the nation at 243 MW, says CBRE.

Serot has been directly involved in more than $6 billion in transactions since joining the firm in 2001.