MARKETPLACE (pg 12): BROKERAGE FIRMS CONSTRUCTION COMPANIES/GENERAL CONTRACTORS FINANCE & INVESTMENT FIRMS
©2022 Real Estate Publishing Corporation October/November 2022 • VOL.22 NO.5
Less is more, especially when it comes to office space in today’s market By Mia Goulart, Senior Staff Writer
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uburban office is thriving. And Downtown Chicago? It’s getting there. Things are changing, though, and many are wondering whether or not the suburban rebound will continue.
Uncertainty is ever-present as we enter a period of what some are considering a recession, causing businesses to reevaluate their workplace strategy. And one of the biggest trends experts are seeing? Quality over quantity.
Many businesses are downsizing and relocating to better quality properties like Class B, Class B+ and Class A, in part, to entice people to go back to work. Companies like Cresa have seen an increase in leasing velocity of 3,000- to 15,000-square foot buildings. Buildings with more square feet are still being leased, but the large-deal market is not as active as it was prior to COVID-19.
OFFICE (continued on page 8)
Brick-and-mortar versus e-commerce? “Balanced coexistence” is the key to success, according to Newmark By Mia Goulart, Senior Staff Writer
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t was once believed that e-commerce would be the end to brick-and-mortar, but today’s narrative is a little different. The in-person experience is proving necessary to closing an online sale. The key to success in today’s climate, and the future of retail, is both. Newmark Senior Managing Director, Chicago Retail Jim Schutter called it “balanced coexistence”.
RETAIL (continued on page 10)