CBRE Global Investors and German investment company Universal-Investment, recently acquired a newly completed one million square foot build-to-suit distribution facility in suburban Chicago.
The submarket has lost millions of square feet in office space in the last 25 years, but its remaining tenants are loyal, and rent increases are outpacing the CBD.
Chicago now tops the US as the number of Energy Star labeled and LEED-certified buildings grown nationwide, and the spread of energy-benchmarking ordinances may spur further adoptions.