Client: Zurich North America
Source: Chicago Business Now
Zurich’s new North American HQ in Schaumburg proves its recommitment and investment in Chicago’s suburban real estate market. Though several companies have fled downtown, the suburban market is stronger than it has been in years:
Our leasing panel (NAI Hiffman EVP Jim Adler, Choose DuPage CEO John Carpenter, Hamilton Partners partner Dave Andrews and JLL SVP Norm Murdoch) agreed there’s more to the narrative of companies fleeing the suburbs for downtown Chicago than what you read in the media. In fact, it’s stronger than it’s been in years and companies like HSBC, Citibank, Paylocity and Zurich North America all recommitted to suburban HQs. Jim says the suburban office market consists of 126M SF of leasable space, a footprint bigger than Milwaukee and Detroit combined.
Chicago Business Now, “OUR EXPERTS SAY DON’T FALL FOR THE SUBURBS VS. CBD ARGUMENT,” August 25, 2016