Bradford Allen is pleased to share with you our latest office market report. This quarter in the downtown office market: 2024 net absorption was negative 3.6 million square feet, nearly double the negative 1.9 million square feet recorded in 2023. Direct vacancy continued to climb, reaching a record high of 23.2%. The average gross asking … Read more
Bradford Allen is pleased to share with you our latest office market report. It was a familiar story in Q3 for Chicago’s downtown office market as headline statistics didn’t improve, nor degrade, materially over the prior quarter. Absorption was negative 600,000 square feet, bringing the year-to-date absorption to negative 2.6 million square feet. The direct … Read more
Bradford Allen is pleased to share with you our latest office market report. The second half of the year in the suburban office market: Absorption levels declined as -800,000 square feet was absorbed through the first half of 2024. The direct vacancy rate held steady at 24%. Available sublease space on the market decreased to … Read more
Bradford Allen is pleased to share with you our latest office market report. This quarter in the downtown office market: Absorption improved but remained negative with -67,000 square feet absorbed through Q2/24, resulting in a total of -1.9 million square feet through the first half of 2024. The direct vacancy rate reached 22% in Chicago’s … Read more
Bradford Allen is pleased to share with you our latest office market report. This quarter in Chicago’s downtown office market: Absorption remained negative with -1.4 million square feet absorbed through Q1/24. The direct vacancy rate surpassed 21% in the CBD. Demand is increasing for move-in ready office suites which accounted for more than 38% of … Read more
Bradford Allen is pleased to share with you our latest office market report. The second half of the year in the suburban office market: Leasing activity remained above pre-pandemic levels with more than 5.2 million s.f. leased through 2023. Absorption remained negative with -930,000 s.f. absorbed through the back half of 2023, resulting in -1.2 … Read more
Bradford Allen is pleased to share with you our latest office market report. This quarter in the downtown office market: Absorption remained negative with -530,000 s.f. absorbed through Q4/23, resulting in a total of -1.6 million s.f. of net absorption through 2023. The direct vacancy rate surpassed 20% in the CBD. Available sublease space on … Read more
Very successful brand is built on strong foundations that support its mission, vision and core values. 91% of consumer are more likely to do business with recognizable and memorable brands that provide them with relevant offers. Why is that important? Because recognizable messaging and tone of voice, memorable visuals and core values that speak to … Read more
Moderate market activity amid high uncertainty In Q3/23, Chicago’s CBD occupancy levels and gross asking rates remained relatively unchanged from the prior quarter. The office market’s direct vacancy rate was 19.8%, while the average gross asking rate held at $44 p.s.f. Absorption levels turned negative this quarter at -432,000 square feet, resulting in year-to-date absorption … Read more
Bradford Allen is pleased to share with you our latest office market report. This half in the suburban office market:
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