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WeekLEE News May 25-29, 2015


IN THE NEWS! (Week Review)  

A Tale of Three Markets: LAS VEGAS—What US markets could perform more differently than Southern California, Chicago and Manhattan? But while there are major differences in geography, density and recovery, there are also some surprisingly striking similarities, and in this exclusive video interview from RECon, three executives from Lee & Associates delineate both those differences and those similarities.
THE BEST (AND EASIEST) MARKETING TOOL FOR REAL ESTATE PROFESSIONALS: So why is it so uncommon to find real estate professionals writing their own blogs? Of course there are several great examples of those that do:  Allen Buchanan, Lee & Associates.  The News Funnel

Lee & Associates: Mike Woldman, Edward Winslow, Joe Grody, Jeffrey Howard:  Daily Herald Business Ledger

Rick Anesi joins Lee & Associates of Illinois as vice president of its industrial services group:  Chicago Industrial Properties

National News

Constructing Lending Grows Faster Than Traditional Loans:  NEW YORK CITY—Here is an interesting factoid about the commercial real estate bank lending market: Currently bank lending for construction and development is growing faster than lending for completed buildings, according to a soon-to-be released independent analysis by Chandan Economics of call reports filed by banks with the Federal Deposit Insurance Corp.

Housing Gains Mean Added Boost for Industrial:  LOS ANGELES—The Commerce Department reported earlier in May that April’s new housing starts represented the best month since November 2007. Meanwhile, new permit applications, an indicator strongly correlated with near-term construction, were up 10.1% for the month.

Property Owners Reporting Strong 2014 NOI Gains:  Commercial real estate owners posted strong net operating income (NOI) growth last year. For the properties reporting year-end 2014 financials, NOI grew by 2.8% on average, compared to growth of 2.64% in 2013, according to Wells Fargo Securities.  Costar News

Local News

GLP Syndicates Stake in Former IndCor Portfolio:  CHICAGO—Global Logistic Properties Ltd. said Thursday it had reached agreements to syndicate most of its 55% stake in the former IndCor industrial portfolio, which GLP and Singapore’s sovereign wealth fund acquired from the Blackstone Group earlier this year for $8 billion.

IKEA announces second distribution center in Joliet:  IKEA announced it submitted plans to the City of Joliet, Illinois for a second distribution center – to accompany the terminal previously announced and planned to open in Summer 2017. Illinois Real Estate Journal

Chicago pulls off refinancing but pays a big premium:  The city of Chicago today reached an agreement on the terms of a key detail to finance hundreds of millions of dollars of variable-rate debt with long-term paper.  Crain's Chicago Business

BLACKSTONE GROUP GRABS RIVER NORTH POINT IN $390M DEAL:  Blackstone Group is adding to its Chicago real estate portfolio. The global private equity giant agreed to buy River North Point (formerly the Apparel Center) in a $390M deal.

The Construction of Chicago's New Riverwalk in Photos:  This weekend, the City of Chicago opened the first two blocks of its new $100 million Riverwalk.   Architecture Chicago Plus

Bisnow Special Report: What Chicago's Latest Affordable Ordinance Really Means for Developers:  Recent changes to the City’s Affordable Requirements Ordinance have some developers concerned about their future developments. 

About Us

Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 52 locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With almost 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level.


05/29/2015 - 09:00


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