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    NEGATIVE ABSORPTION IN BOTH MARKETS

    The fourth quarter brought about negative absorption in both the Central Business District as well as the Suburban markets. However, this quarter is not indicative of the strides the CBD and the suburbs have made this past year. MB Real Estate predicts slowly improving positive absorption rates over the next two years, thus decreasing overall vacancy rates.
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    WEST LOOP IN RUNNING FOR NEXT TECHNOLOGY HUB

    While the River North submarket continues to make headlines, the West Loop is positioning itself to become the next technology hub in the CBD. Gogo Inc. signed the largest lease this quarter for 234,000 square feet at 111 North Canal in the West Loop.
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    ADVANTAGES AND DISADVANTAGES OF OPEN OFFICE SPACE

    While increased collaboration and employee unity is the goal, open office space can cause distractions leading to underperformance. Companies need to decide which configuration; open, closed, or a combination of the two, will meet the needs of most employees.
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    DIRECT VACANCY LEVELS INCREASE FROM DECEMBER

    This month’s MBRE Index explores why direct vacancy levels have increased since December. Due to a large block of space coming back on the market as well as companies focusing on space efficiency, the Index buildings did not continue the trend of decreasing vacancy levels this quarter.
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CHICAGO MARKET OVERVIEW

The Chicago Market Overview is a comprehensive quarterly report on the CBD and the Suburban office market conditions. The MB Real Estate Research team combines detailed data with timely insight to guide clients on the market’s outlook.

2013 4th Quarter Chicago Market Overview

2013 4th Quarter Chicago Submarket Snapshots

CORE NATIONAL MARKET OVERVIEW

Additionally, MB Real Estate Research contributes to and com- piles the CORE National Market Overview, a detailed summary of national and network city office market conditions.

MARKETBEAT

On months between quarter-end, the Research team publishes the MB Real Estate MarketBeat. It alternates between analysis of a developing trend in the market and of the MB Real Estate Index, a leading indicator vacancy index based on the last thirty buildings constructed in Chicago’s CBD.

March 2014
- Direct Vacancy Levels Increase from December

February 2014
- Advantages and Disadvantages of Open Office Space

ADDITIONAL INFORMATION

Please contact
Kristy Wenz at KWenz@mbres.com for past issues of the MBRE Chicago Market Overview, MarketBeat, or the CORE National Market Overview, as well as for additional MBRE Research Information.