MB Real Estate has released the June 2012 Marketbeat research report.
Preview:
Over the past three months, the MB Real Estate (MBRE) Index experienced 128,000 square feet of positive absorption. Demand for Class A space increased in the CBD’s newest buildings for the first time since June 2011. This led the MBRE Index direct vacancy rate to fall to 10.2 percent. While direct vacancy is slightly greater than the 9.9 percent level seen a year ago, the market for premier, Class A space in the CBD remains tight.
The overall CBD, however, experienced negative demand in the first quarter with direct vacancy reaching 15.8 percent. This was largely due to large occupancy losses in Class C buildings. Thus, the spread in vacancy rates between the MBRE Index and overall CBD has risen to 5.6 percent, the second largest disparity in tracked history. In the past, the MBRE Index has been a leading indicator for performance in the overall market, and therefore, we expect direct vacancy in the overall CBD to decline within the next two quarters.
Read the Full PDF Version
Read GlobeSt.com Exclusive-Tight Core Vacancy Proves Chicago Class A Desire; featuring MBRE Research data and Andy Davidson, EVP Corporate Services.
Tuesday, June 12, 2012
Tuesday, June 5, 2012
Startup Weekend Chicago: MBRE Entrepreneurship in Action
The MB Real Estate Corporate Services and Tenant Advisory
group had the privilege of sponsoring the Chicago Startup Weekend this past
weekend and participating as entrepreneurs.
The 54-hour event was held at TechNexus, a “clubhouse” for technology
leaders and entrepreneurs. With a focus
on bringing people together with different skillsets- primarily software
developers, graphics designers, and business people- the mission of the weekend
was to develop a web or mobile application which can form the basis of a
credible business.
MBRE brokers Jay Beadle, Boris Yelyashov, David Burkards,
Craig McCaw, and Christine Torres were enthusiastic about bringing their
entrepreneurial and innovative real estate background to the start-up
arena. Resulting in a pipeline of
innovative new potential ventures, each concept was judged according to
business model, customer validation, and execution. Boris Yelyashov (VP, Corporate Services)
contributed to team ExerSocial (pictured above), which was awarded 2nd Place for
their idea.
MBRE brokers Jay Beadle, Boris Yelyashov, David Burkards,
Craig McCaw, and Christine Torres were enthusiastic about bringing their
entrepreneurial and innovative real estate background to the start-up
arena. Resulting in a pipeline of
innovative new potential ventures, each concept was judged according to
business model, customer validation, and execution. Boris Yelyashov (VP, Corporate Services)
contributed to team ExerSocial (pictured above), which was awarded 2nd Place for
their idea.
By merging the expertise of entrepreneurs and real estate
professionals, the MBRE Corporate Services group has developed a guide for real
estate issues and solutions faced by start-ups:
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