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“The market is trending in a stable direction,” Bob Chodos, principal at Colliers International, said at yesterday’s BOMA/Chicago’s mid-year commercial real estate market review, held at the Aon Center. But even though the last twelve quarters have seen positive absorption, and the CBD in particular has recently shown a great deal of vitality, Chodos believes the market faces some obstacles over the next few years. Tenants, for example, have begun to show less interest in making long-term commitments to the bigger spaces. In the first quarter of 2012, he pointed out, property owners in the CBD signed sixteen leasing agreements for spaces with more than 50,000-square-feet, but in the first quarter of this year only eight such agreements were signed.

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