September 2023 Market Update
The challenges facing the office market are broad, and especially pronounced at high-profile buildings in the largest urban markets. National office vacancy hit a record 13% in Q3 2023. Downtown office attendance is at half of its pre-pandemic level, based on keycard data. On a bright note, suburban office properties showed exceptionally robust net cash [...]
August 2023 Market Update
In the industrial market, net absorption is 30% below pre-pandemic levels. New construction will likely outpace tenant demand for at least another two or three quarters. Industrial rent growth has begun to decelerate from a peak rate of 12% in mid-2022 to 8.5% as of mid-2023. Still, the industrial market remains strong in nearly all [...]
May 2023 Market Update
Rising interest rates, low rent growth, and banking turmoil have dramatically slowed CRE investment volume. Commercial real estate investment decreased by 57% YOY in Q1. As a result, commercial prices have declined by 15% Year-over-Year as of May. Large players with cash on hand, however, have enjoyed the luxury of continuing to invest via all-cash [...]
November 2022 Market Update
Warehouse demand is cooling down from red hot to medium hot. Industrial vacancy ticked up in the third quarter from 3% to 3.2%, as developers completed a record 148 million square feet. Warehouse tenants occupied 108 million square feet in the quarter, down 18% from the prior three months, in the first national quarterly decline [...]
1155 N Main St, Glendale Heights, IL – Office Sale Lease-Back
We are pleased to announce that Golden Group Real Estate facilitated the sale of a 42%-occupied turn-key medical/office building located at 1155 N Main St, Glendale Heights, IL. The buyer secured a long-term lease with the seller in this sale lease-back opportunity. The property offered the new owner a stable return while providing an opportunity to [...]
1780 Maple St, Northfield, IL – Multi-Tenant Office Investment
Golden Group Real Estate represented the Seller and the Buyer in the sale of a 71%-occupied office building located in the affluent suburb north of Chicago at 1780 Maple St, Northfield, IL. The property was purchased by a user owner and investor. The property offered a new owner an excellent opportunity to acquire an income-producing [...]
2055 W Iles St, Springfield – Multi-Tenant Office Investment
Golden Group Real Estate is pleased to announce the sale of 2055 W Iles Ave– an 84% occupied, multi-tenant office investment in Springfield, IL. It’s a ±11,576 square foot office property, sitting on 0.88 acres of land and constructed in 1997. It represents a solid investment opportunity by being occupied with strong, finance-related office tenants: [...]
4121 N Pulaski Rd, Chicago – Commercial Condo
Golden Group Real Estate is pleased to announce the sale of 4121 N Pulaski Rd, Suite # 1, Chicago – a 1,560 SF commercial condo located in the Irving Park neighborhood of Chicago. After 5 months of advertising in the challenging office market, the firm was able to bring a strong owner-user buyer with a [...]
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