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The 12-story 950 Nicollet Mall office block was constructed in 2001 and has been held by Union Investment in its open-ended real estate fund Unilmmo Europa since it was acquired in 2014.
While there are a handful of exciting office assets trading in Long Beach, the overall office investment activity has remained flat and likely will remain flat through 2019.
Jeff Schotz has been involved in the leasing of more than 30 million square feet to many of the world's premier corporations, including Microsoft, CBS, Pepsi-Cola, Mutual of New York, JP Morgan Chase, Citicorp, Linde, British Telecom, Newell Brands and Ernst & Young.
Square Mile Capital provided the loan to Rockwood Capital and Midtown Equities to create a complex similar to the Brooklyn development in the Battery Park neighborhood.
Accesso Partners is maintaining an ownership interest in the eight office buildings and the company plans to do more deals with the Switzerland-based Partners Group.
“This lease renewal and expansion illustrates Chicago's position and competitive strength as a top tech market, which has helped drive the growth of companies like Walker Sands,” says JLL's Andy Strand.
The 21st Century Redevelopment Program will launch as a pilot program with a total of $250,000 in funding available in the form of grants of up to $50,000 per recipient.
Two years of anticipated gridlock ease fears that political or economic policy changes will derail business expansion plans, setting the stage for further job creation and modest gross GDP growth, says Transwestern.