Corfac News

11 092014

DevelopersSeveral developers joined us in Chicago to discuss Revitalization and Reurbanization. John Homsher of Podolsky|Circle CORFAC International led a panel discussion based on core and local commercial real estate.  Thomas D’Arcy with Hines, Rand Diamond with GlenStar Properties and Nick Anderson with Related Companies were on the panel.

The group discussed Chicago projects that illustrated the conference theme of Revitalization and Reurbanization. The early part of the conversation focused on Sustainable Development, particularly LEED certification.  Here are a couple of quotes from the event:

“It’s hard to get tenants to pay even $1 extra for occupying LEED certified offices.”
– D’Arcy

“We’ll try to get to LEED – Silver if we can do it, but not so much for the tenants; it is the investors that want it.”
– Diamond

And the comment that drew the greatest amount of laughter from attendees was when Anderson told the crowd that Related sponsored a tenant survey to learn what occupants want most in their offices. “LEED did not make the top 10 and the number one priority was to allow dogs in their offices,” said Anderson.

Thanks to all of the panelists for participating.

Locally Owned. Globally Connected

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 49 offices in the U.S., 5 in Canada and 17 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Japan, Mexico, Romania, Russia, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 10,000 lease and sales transactions totaling 620 million square feet of space valued in excess of $8.2 billion in 2018.