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    HISTORIC SALE IN SECOND QUARTER

    The second quarter saw the historic sale of Willis Tower for $1.3 billion, the most significant office building sale in the U.S. outside of NYC. Half way through 2015, the CBD has already surpassed the total sales volume of 2014 by almost $927 million.
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    OPPORTUNITY IN THE SUBURBAN OFFICE

    Even as vacancy rates float above 20 percent, investors see opportunity in the suburban office sales market and portfolios are changing hands. Lone Star Funds, a Texas private-equity firm bought 1.25 million square feet in Chicago suburban property as part of an 11-property portfolio for $433 million from Columbia Property Trust to end out the second quarter.
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    INVESTMENT SALES MARKET TAKES OFF IN CHICAGO

    CBD Office currently leads all asset types in investment activity for the global capital market, and US cities in particular are top targets for major investors.
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    STEADY CBD MARKET

    Direct vacancy in the MB Real Estate Index which is comprised of the Chicago Business District’s (CBD) 30 newest Class A buildings, has remained relatively steady at 10.7 percent. The absence of large activity for the second quarter within the index is indicative of the space equilibrium reached in current trophy space inventory.
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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.

2015 2nd Quarter Chicago Market Overview & Snapshots

2015 2nd Quarter Chicago Suburban Market Overview

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.

June 2015
- Steady CBD Market

May 2015
- Investment Sales Market Takes Off in Chicago

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.