BY THE NUMBERS
CHICAGO—Chicago's downtown ranked in the top 50 for prime office occupancy costs in the world, and, came in fourth for the largest 12-month increase in the nation, according to CBRE Research's latest annual global occupancy report. The downtown market has been quite active, and that pushed costs up 10.2%. In March, CBRE noted in its global rents survey that prime net rents in Chicago's top office properties, a subset of 14 million square feet, rose 19.9% from 2015 to 2016. “Demand is still very healthy for high-quality space and we continue to see positive absorption,” Sara Spicklemire, senior vice president with CBRE. “As long as a flight-to-quality and inbound migration to the urban core continues, I don't see this trend reversing.”
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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.
