CHICAGO-Chicago won't see any significant amount of new office inventory come on line until 2016 at the soonest—probably even later, says Steve Smith of JLL.

HOUSTON-Hazen steps down as senior managing director and divisional CEO in the firm's investment management group; Sherri Schugart is named as his replacement.

NEW YORK CITY-That the office project, conceived at the recession's depths, is going up as spec construction represents “a tremendous vote of confidence,” Mayor Bloomberg said Monday.

STUTTGART, GERMANY—In a $70-million deal, Hines Global REIT Inc. adds the Mercedes-Benz Bank Building here to its portfolio.