Jennifer Stanton, CPSM

International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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Milwaukee's Q3 leasing activity totaled 239,940 s.f., with 47% of activity concentrated in the central business district, as downtown continues to outpace the suburbs. Only 26% of leases signed in the third quarter were renewals, as tenants may be looking to upgrade the quality of their space and adjust their office footprints. Looking ahead to the end of 2024 and into 2025, the demand for Class A space is expected to continue as tenants increasingly prioritize high-quality spaces across all submarkets. This flight to quality trend is driven by tenants' desire for modern, well-designed spaces that offer a range of amenities to enhance their productivity and overall experience. In response to this demand, landlords will likely face pressure to invest in their buildings and keep them up-todate with modern tenant amenities. 

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International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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Greystar's Ltd. brand is bringing modular apartment homes to cities across the US faster, cheaper and with 90% less waste. Ltd. Findlay, a six-building modular community, opened this week in PA complete with a gym, amphitheater and bocce courts.

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The Wisconsin State Journal provides a nice summary of the Downtown Madison office market, where vacancy is 12.1 percent. And yes, the Downtown Madison office market is outperforming the suburbs along with most of the Downtowns in peer markets. In Milwaukee, combined vacancy in the four Downtown submarkets averages 16.9 percent, and in Minneapolis, the central business districts average 21.6 percent vacant. The article notes that vacancy is under 10 percent for Class A buildings, but is over 20 percent for Class C buildings. While converting office buildings to apartments is rarely practical, we've seen plenty of Class B & C buildings being torn down and replaced by new apartment buildings. One recent example is the former low-rise 73,000 square foot SWIB office building on E. Wilson St, which is being redeveloped by Quad Capital Partners into a 14-story, 337-unit, 390,000 square foot apartment building (not including parking) called ONE 09. https://lnkd.in/g6PCfqHc

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International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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📅 Excited to attend the 2024 MHI National Communities Council Fall Leadership Forum in Chicago, Nov 13-15. This event is set to deliver powerful insights across several key areas: 📊 Economic & Fiscal Policy Outlook - Douglas Holtz-Eakin will explore post-election implications for the housing market, setting the context for economic planning in our sector. 🔍 Demographic Shifts & Housing - Eric Finnigan's session on demographic trends will provide strategic data crucial for future community development. 🚧 Land-Use Approvals & Public Opposition - George Passantino will offer strategies to navigate the challenges in securing land-use approvals, essential for our project expansions. 🏗️ Innovative Home Designs - Discussions will focus on duplexes, CrossMods®, ADUs, and build-to-rent homes, showcasing flexible and revenue-enhancing community designs. 📢 Advocacy & Policy Impact - With a new administration and congress, understanding shifts in political landscape is vital for our advocacy efforts in manufactured housing. Join me in looking forward to a forum filled with impactful discussions and networking opportunities that promise to enhance our industry's future. 🔗 Register for this pivotal event. https://lnkd.in/gtwNgzb6

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1 Comment

International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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“There are fewer landlords competing for tenants because so many buildings are in this zombie state,” said Michael Reschke, a leading Chicago developer. The Covid experience has expedited changes in work practices, rendering many second-tier office buildings functionally obsolete and creating political, financial, and safety issues for urban business districts nationwide. The attached WSJ article outlines Chicago's bold initiatives to repurpose these spaces into apartments and hotels. Faced with soaring vacancies and plummeting property values, urban centers are turning to innovative solutions, including generous subsidies and public-private partnerships. Can these transformations help tackle #ZombieBuildings? 🧟‍♂️🏢 Is it unfair to use public funds to bail out landlords, or is this the best way to save our cities? Or both? Strange alliances here and lots of competing issues. Would love to hear your thoughts... 💬 #DowntownRevival #Sustainability #Innovation #CommercialRealEstate #FutureOfCities https://lnkd.in/efDtKPGx

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OFFICE IS DEAD 🤡... In a world where almost every owner/developer would have pivoted to any other asset class, R2 Companies + Goldman Sachs doubled down on office and found success. Do not let the "Flight to Quality" headlines fool you as our team continues to out perform the market in asset classes that are not considered trophy. One tenants flight to quality story can mean something completely different than another's. If you are a lender or owner of value or creative office space, reach out, we can help you cultivate a thoughtful strategy for your asset.

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International Workplace Group is pleased to announce continued expansion in Illinois, with nine new flexible workspaces. The state-of-the-art locations will offer a variety of solutions to meet every hybrid work need, from private offices to coworking, meeting rooms, and creative spaces. These openings will bring IWG’s statewide footprint to 78 locations, meeting the rapidly growing demand for hybrid working solutions.

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So proud of this team. CRE transaction velocity is picking up across all assets and our partners are humming. This was one deal from a batch of others but relevant since the value add buyer, a repeat customer, has been cautiously exploring opportunities for a long time and evidence is there, tides are changing. Mark Halloran #cre #mortgage #commerciallending #studenthousing #creinvestment #underwriting #interestrates #cmbs #mortgagebrokers #investmentsales #agencylenders #lifecos #constructionfinancing

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"It's extremely tight out there," Owen said. "The industrial marketplace is still extremely healthy." This year has been a bit volatile for many real estate sectors, particularly commercial and residential. One sector in Twin Cities where this isn't the case is Twin Cities. Interestingly, tenants who would have previously looked at commercial office spaces are now considering single story "flex-tech" office spaces inside industrial buildings. Great investment opportunity #RealEstate #Industrial #Warehouses

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I've toured a few office buildings in the suburbs of Minneapolis over the last month. They've ranged from $94-$300/ SF and visually/ functionally they appear to all be in the same class. For a 15,000 SF building, that means the price range has been $1.4-$4.5 million for a building that functionally could do the same thing for a company. Factors the listing agents have used to rationalize the price: -Location -Updates Most important factors our buyers want: -Opportunities for value add (Pickleball courts, gym, golf sim, WeWork style area) -Windows (nobody wants to work in a dungeon) This doesn't mean advertising the location and updates is wrong, but it's been interesting to see that those factors haven't had much of an impact with our particular buyers. What have been the most important items on your list the last time you leased/ bought an office?

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