Klue Real Estate Advisors的动态

The recent acquisition of the 1.6 million-square-foot office building at 600 W. Chicago Avenue by 3Edgewood for $88.7 million has set a new benchmark in Chicago's commercial real estate market. This transaction, the largest office property sale in the city since 2018, is reshaping the landscape and hinting at a potential market shift. Here are the key highlights of this significant deal: - Property: Former Montgomery Ward Catalog House transformed into an 8-story office complex - Location: Strategically positioned along the Chicago River - Previous Sale: The property was previously sold for $510 million in 2018 by Sterling Bay - Sale Price: Approximately $88.7 million - Price per Square Foot: Currently valued at $55, a notable decrease from $319 in 2018 This transaction carries substantial importance for Chicago's real estate scene. Despite facing challenges such as a 37.5% vacancy rate, the confidence shown by Sarver and 3Edgewood in the potential of this iconic property speaks volumes. With abundant freshwater resources and notable resilience to natural disasters, Chicago emerges as a secure and promising investment hub. This move signifies a positive trajectory for the market, indicating further transformative developments on the horizon. Read more about this transformative deal at the link below: https://lnkd.in/gaQkh-M2 #SVNChicagocommercial #Womenincommercial

?? Detroit Office Market Tipping Point? Yesterday, Crain's Detroit Business reported that two Class A #office buildings in Livonia, MI, totaling 276,000 sqft, were sold for just $4.5 million—a staggering 90% discount from their previous $38 million sale price! With vacancy rates rising, this could mark a critical shift in Metro #Detroit's office real estate landscape. #CommercialRealEstate #DetroitRealEstate #OfficeSales #MarketTrends #LivoniaMI #CRE #PropertyInvestment #RealEstateInsights #MichiganCRE #LarryEmmons Newmark Detroit

SL Green Realty Corp., Manhattan’s largest office landlord, is expanding its Park Avenue portfolio with the purchase of the office portion of 500 Park. Ave., an 11-story, 201,000-square-foot Class A office building, from Morgan Stanley: https://lnkd.in/et47JA6a

Understand tenant needs and area demand when you are looking to build or invest in small bay flex. Not all areas and tenants have the same need and demands. In certain areas, there is less demand for office space or the need for additional amenities, like storage side yards or mezzanine space. Cody Payne #flex #flexspace #warehouse #cre #investing #realestate

Today's Did You Know in Commercial Real Estate Recent news surrounding the Flatiron Building in Manhattan has focused on its conversion from office space to residential units. The current owners—GFP Real Estate, The Brodsky Organization, and The Sorgente Group—are pushing forward with plans to transform the iconic building into 60 luxury condominiums. This comes as the building has remained vacant since 2019, when Macmillan Publishing left, and amid high office vacancy rates in Midtown Manhattan. The developers filed an application with the city to convert approximately 200,000 square feet of space into residential units, leaving only a small portion for ground-floor retail. Reports disclosed that the conversion may start in 2025. The Flatiron Building's distinctive triangular shape and historic status is said to remain largely unchanged, though it will undergo internal renovations to modernize it for residential use. This shift is part of a broader trend in New York City, where older office buildings are being repurposed to meet the growing demand for luxuryhousing. LEARN MORE: www.nyccrea.com FOLLOW US: Facebook: https://lnkd.in/gqGzQetJ Instagram: https://lnkd.in/gCX3yNkw LinkedIn: https://lnkd.in/ghpstcR8 #NYCCREA #NewYork #CommercialRealEstate #Leased #Sold #DouglasEllimanCommercial #DouglasElliman #DouglasEllimanNewYork #LlorensNakos #Llorens_nyccrea #AndreasNakosRealtor

Galliford Try lands two London contracts together worth ￡87m @gallifordtry #LSE #GFRD. Galliford Try Holdings PLC (LSE:GFRD) has landed two new contracts in London with a combined value of ￡87?million. The builder will undertake a ￡53?million redevelopment project at 30-33 Sloane Street, in which it will retain the site’s historic fa?ade whilst constructing a six-storey building with luxury retail spaces, category-A offices, and a rooftop restaurant. A separate ￡34?million contract in Wapping, with Big Yellow Self Storage, will see the firm deliver a 133,000 sqft facility featuring self-storage units, flexible office spaces, a business hub, and workspace... https://ow.ly/n2XR105QB5l

Artis REIT has sold its 220 Portage Ave. office building and the adjacent Garry Street Parkade as many of the city’s downtown office properties continue being transferred from institutional into private ownership, reported Real Estate News Exchange (RENX). "The 17-storey, 169,895-sq.-ft. tower has been one of the most consistently performing office buildings in the market, according to Brett Intrater, executive vice-president at?Cushman and Wakefield Stevenson?in Winnipeg, who brokered the transaction." https://lnkd.in/grbfGMZ7 #winnipeg #office #sale

?? Real Estate Tip for Businesses If you’re considering leasing commercial space, don’t just think about your current needs—plan for the future. The right property should not only accommodate your business today but also offer flexibility for growth. Does the space allow for team expansion or equipment upgrades? Accessibility is another critical factor. Is the location easy for both employees and clients to reach? Properties like 1345 W Mason St in Green Bay excel in this area. Located in a high-traffic commercial corridor, this property offers excellent visibility and convenient access to major highways, shopping, and dining options. Lastly, consider the total costs. Leasing a property with built-in amenities, like 1345 W Mason St, can save businesses time and money while providing a professional and functional space. Thinking long-term and weighing these factors will help ensure your business thrives in the right environment. If you’re ready to explore options, Kersten Realty is here to guide you every step of the way. ?? Contact us today to schedule a tour or consultation! ?? View the property details here: https://lnkd.in/gjrD7EsP #kerstenrealty #greenbayrealtor #commerciallease #residentiallease #WIrealtor

Iconic Office Property 400 Capitol Mall in Sacramento Hits The Market: Sacramento’s crown jewels in the commercial real estate market—400 Capitol Mall. As a real estate professional, This property stands out in the commercial office sector for a couple reasons: Defying Market Trends with High Occupancy We all know the commercial office market is facing some tough times with soaring vacancy rates. Yet, 400 Capitol Mall is bucking the trend with its impressive occupancy rate. This isn’t just a fluke—it's a testament to the building's desirability and the strategic management behind it. Businesses are keen to stake their claim here, recognizing the value of being in such a prime location. https://lnkd.in/g8DpDh2A

This is an excellent example of repurposing existing landmarks to address the pressing need for housing. By converting this office building into residential units, we can expect the residential traffic to effectively balance out daytime activity, resulting in minimal additional traffic impact during peak hours. #reinvent #housing #atlanta #realestate