New York Post, July 25, 2022
Despite the pandemic and other challenges in the commercial real estate market, Brookfield Place is thriving in downtown New York City. The mixed use complex reports high office and retail occupancy rates. Two of five office towers are 100 percent leased, with the others at 90 percent or higher. Retail space is 94 percent leased, and foot traffic is up 53 percent from the prior year. Ownership’s significant past investment in property redesign and amenity upgrades no doubt contributed to this success. DMA is proud to have supported retail tenant delivery efforts at Brookfield Place, bringing new dining and shopping experiences to energize the area.
Chicago Tribune, May 23, 2022
Work to modernize the design and amenities at Willis Tower began well before the pandemic. A five-year, $500 million remodeling project now positions the iconic, 110-story building to attract the interest of visitors, neighbors and prospective tenants returning to downtown spaces. Energy and sustainability improvements also helped Willis Tower become the largest building in the U.S. to earn LEED Platinum certification. A ribbon-cutting ceremony marked the finale of the transformation, which created more welcoming entrances, updated building systems, refurbished common areas and added a five-level shopping, dining and gathering space called Catalog. Already 70 percent leased, Catalog features retail, restaurant and entertainment options as well as an event space and a rooftop terrace. DMA led retail tenant delivery efforts on behalf of building ownership throughout this significant project.
May 5, 2022
After a competitive RFP process, Chicago Mayor Lori E. Lightfoot announced the selection of Bally’s as the preferred bidder for the city’s sole casino license. The Bally’s Chicago proposal envisions a $1.7 billion destination casino, entertainment and hotel project on the 30-acre site of the Tribune Publishing Center. A 3,000-seat theater, 20,000-square-foot exhibition space, two-acre park and Riverwalk extension will further enhance the location. Bally’s Chicago has already entered into an agreement with organized labor and made strong commitments to minority hiring and opportunities for local businesses and investors. The development is expected to create more than 3,000 construction jobs annually and 3,000 permanent casino jobs.
DMA congratulates Bally’s Chicago and Mayor Lightfoot on this significant step, as the Chicago casino moves toward final project approval and licensing. Our team is proud to have assisted Bally’s in the proposal process and continues to support the progress of Bally’s Chicago.
Crain’s Chicago Business, March 15, 2022
San Francisco-based Stripe, an online payments business, signed a lease for 45,000 square feet of office space in River North. The tech company’s increased commitment to Chicago is a promising sign for downtown office building owners facing a market with high vacancy rates. Stripe is expected to add to its Chicago workforce and move to its new location at 350 N. Orleans Street later this year. DMA is assisting EQ Office with project management activities readying the space for Stripe.
CityBiz, March 3, 2022
Darien Commons is a mixed-use, transit-oriented destination bringing new retail and residential options to Fairfield County, CT. Federal Realty Investment Trust recently announced the addition of six new tenants: five new-to-market dining concepts and a new fitness offering. DMA is involved in retail tenant delivery work for Federal Realty. The development will open in phases beginning this year.
Fast Company, February 25, 2022
Construction is expected to start this year on a new gondola line linking a Paris suburb to the city’s metro system. The electric-powered aerial service will reconnect locations separated by highways and a rail line and carry an estimated 11,000 passengers per day. In the U.S., the recent infrastructure bill may contribute to more serious consideration of urban gondolas as a public transit option. DMA’s Jason Westrope is quoted in this article on the topic.
READ MORE DETAILS:
How urban gondolas grew from a tourist attraction to a viable transit option
Crain’s Chicago Business, January 6, 2022
A young tech company signed the first lease at The Terminal, in West Humboldt Park. EeroQ is developing a commercial quantum computer chip with technology that traps and controls electrons floating above superfluid helium. The company signed a five-year lease for 9,600 square feet and will move its headquarters from Michigan to The Terminal, a major redevelopment project intended to attract creative and tech companies to the neighborhood. DMA worked with The Terminal’s development team on the transformation of former industrial space to more than 250,000 square feet of workspace.