CHICAGO, MADISON, WI—The competition for assets in the US office investment market has gotten quite intense, and JLL believes it's time for investors to take a look at small but robust cities like Madison, WI. And although it only has about 15.7 million square feet of office inventory, compared to Chicago's 234.5 million square feet, the home of the University of Wisconsin's flagship campus is a dynamic region that investors have begun to notice.
“They are pleasantly surprised by the amount of growth in this market,” Steve Buss of Chicago-based JLL's capital markets group, tells GlobeSt.com. Furthermore, many are also surprised that the city and surrounding area are home to about one million people. And the $1.1 billion that the university spends on research each year fuels the vibrant tech sector that undergirds the office economy.
That tech sector is a bit different than ones found in many other tech-heavy markets. Jim Postweiler, managing director with JLL's capital markets, says the influence of the university has fostered a strong agricultural technology sector, as well as one focused on genetics.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
