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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).
The building features one-, two- and three-bedroom units range from 791 square feet to nearly 1,400 square feet with rents ranging from $1,115 to $1,698. The project is currently 93% occupied.
The Dallas MSA continues to have strong demand for the foreseeable future, most notably with its addition of more than 100,000 jobs during the past year and almost 75,000 new residents in the same period.
“Amidst international economic uncertainty and an increase in global investor interest in alternative investments, we have seen an uptick in foreign investment firms, particularly those in the Gulf, looking to acquire stabilized Class-A office products in the United States,” says Norman Feinstein, vice chairman of The Hampshire Companies.
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.