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San Francisco office tenant demand relative to available supply has reached its highest level since 1999, and tenant square footage has increased to 6.8 million square feet, equal to the level of existing supply.
The sale will allow Somerset to transform the vacant former AT&T campus into the Chicago region's first “Metroburb,” modeled after its successful NJ version.
Plans for the site, which are still indefinite, are expected to include commercial and industrial repurposing as well as potential institutional, educational and residential components.
Real estate veterans and entrepreneurs Christian Dalzell and Mukang Cho have launched Counter Capital Management, LLC, which will be co-headquartered in Boca Raton and Philadelphia.
Past the peak doesn't mean recession. Caution is smart, but as executives of PNC Real Estate point out, there's still room to run in this record-breaking upcycle.