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  #441  
Old Posted Feb 6, 2018, 2:27 PM
SamInTheLoop SamInTheLoop is offline
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The consolidation trend is indeed very real.

However, it can also actually play a role in some cases of encouraging new development (at the same time that this is causing overall vacancy to trend up, all else equal....which from a macro standpoint plays a role in discouraging new development overall).

The reason is that when large firms consolidate their space, they are often times looking for a single contiguous large block of highly efficient space. Where is it very easy to find a single contiguous large block of highly efficient space? As an anchor tenant in a planned office tower.

Obviously industries and individual firms vary greatly in their price sensitivity/occupancy cost consciousness....ranging from a firm that would never even seriously consider a new construction rental price point, to those for which it is almost a ‘default’.....but my point here is that the impact of tenant consolidation on new development in the office market is not straightforward....
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  #442  
Old Posted Feb 6, 2018, 3:31 PM
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Not every company needs a contiguous block of space. It comes in handy if you want to cut floorplates for glitzy stairways and amphitheater spaces, but if you're gonna ride an elevator between floors anyway, it doesn't necessarily matter whether you're riding one floor or nine.

Admittedly, the tiering of elevator banks can pose a problem for this if it forces people to transfer in the lobby or at an intermediate floor.

And yes, some companies may see consolidation as an opportunity to move to a new trophy tower.
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  #443  
Old Posted May 21, 2018, 12:52 AM
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Has there been any news on this tower? It's such a gem I'd love to see it get built.
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  #444  
Old Posted May 21, 2018, 1:49 PM
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Originally Posted by PittsburghPA View Post
Has there been any news on this tower? It's such a gem I'd love to see it get built.
Still looking for an anchor tenant AFAIK. I also hear the angled facade is out with the new design featuring a stepped massing similar to 110 Wacker.
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  #445  
Old Posted May 21, 2018, 2:26 PM
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Still looking for an anchor tenant AFAIK. I also hear the angled facade is out with the new design featuring a stepped massing similar to 110 Wacker.

The facade was the best part. If they stripped it down to "blah" design it's probably best that it misses this cycle.

Too many good buildings going up to have something so bland here.
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  #446  
Old Posted May 21, 2018, 5:36 PM
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Still looking for an anchor tenant AFAIK. I also hear the angled facade is out with the new design featuring a stepped massing similar to 110 Wacker.
Really? That's a shame, the angled "fractured" facade really was the most exciting part of this tower.
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  #447  
Old Posted May 21, 2018, 5:37 PM
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I also hear the angled facade is out with the new design featuring a stepped massing similar to 110 Wacker.
Boooooooooooooooooooo......................

that sucks, if true.
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  #448  
Old Posted May 21, 2018, 9:23 PM
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^how about an angled stepped back facade?...now that would be interesting
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  #449  
Old Posted May 21, 2018, 9:24 PM
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Really? That's a shame, the angled "fractured" facade really was the only exciting part of this tower.
Fixed.
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  #450  
Old Posted May 21, 2018, 10:24 PM
Notyrview Notyrview is offline
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Ugh, if it's another box with a few setbacks, cancel her immediately
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  #451  
Old Posted May 21, 2018, 11:25 PM
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Fixed.
You aren't wrong, really. If this proposal has turned into another bland CNA Center type box, then honestly I'd rather it remain an empty lot until the next building cycle. Not too many Loop proper locations left; we really should be considering buildings with designs that reflect their esteemed neighbors.
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  #452  
Old Posted May 22, 2018, 1:13 AM
chicubs111 chicubs111 is offline
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Take this with a grain of salt because i dont know how reputable this site its but....


Summary

"Tishman Speyer Properties (TSP) is planning to undertake the construction of an office tower in Illinois, the US.

The project involves the construction of a 229m high, 51-story office tower of structural steel-framed building on 10.3ha of land with a gross built-up area of 130,064m2.


It includes the construction of meeting rooms, conference rooms, storage units, 1,301m2 of retail space, a sky garden, a 190-car parking garage and related facilities, and the installation of 26 elevators and safety and security systems.

Gensler and Krueck and Sexton Architects have been appointed as architects and Thornton Tomasetti, Inc. as the structural engineer.

On April 20, 2015, TSP unveiled the project plans.

In August 2015, the Chicago Planning Commission granted approvals.

In June 2016, excavation works commenced on the site.

Design activities are underway and scheduled to break ground on second quarter of 2018.

Scope
The project involves the construction of a 229m high, 51-story office tower on 10.3ha of land with a gross built-up area of 130,064m2 in Chicago, Illinois, the US.

The US$600 million project includes the following:"

http://www.jsbmarketresearch.com/con...roject-profile
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  #453  
Old Posted May 22, 2018, 2:16 AM
Fvn Fvn is offline
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Design activities are underway and scheduled to break ground on second quarter of 2018.
If that's the case we should be hearing something soon
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  #454  
Old Posted May 22, 2018, 3:59 AM
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I was so pumped for this one but without the angled glass....meh.
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  #455  
Old Posted May 22, 2018, 2:15 PM
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The project involves the construction of a 229m high, 51-story office tower
229m translates to 751'.

looks like the tread title needs updating.
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  #456  
Old Posted May 22, 2018, 3:46 PM
the urban politician the urban politician is offline
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Quote:
Originally Posted by chicubs111 View Post
Take this with a grain of salt because i dont know how reputable this site its but....


Summary

"Tishman Speyer Properties (TSP) is planning to undertake the construction of an office tower in Illinois, the US.

The project involves the construction of a 229m high, 51-story office tower of structural steel-framed building on 10.3ha of land with a gross built-up area of 130,064m2.


It includes the construction of meeting rooms, conference rooms, storage units, 1,301m2 of retail space, a sky garden, a 190-car parking garage and related facilities, and the installation of 26 elevators and safety and security systems.

Gensler and Krueck and Sexton Architects have been appointed as architects and Thornton Tomasetti, Inc. as the structural engineer.

On April 20, 2015, TSP unveiled the project plans.

In August 2015, the Chicago Planning Commission granted approvals.

In June 2016, excavation works commenced on the site.

Design activities are underway and scheduled to break ground on second quarter of 2018.

Scope
The project involves the construction of a 229m high, 51-story office tower on 10.3ha of land with a gross built-up area of 130,064m2 in Chicago, Illinois, the US.

The US$600 million project includes the following:"

http://www.jsbmarketresearch.com/con...roject-profile
If this news is legit, that will be quite an icing on the cake for this boom.

I imagine this could only be happening if there were some serious (and behind the scenes) leasing activity, of course. Somebody out there in the know?
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  #457  
Old Posted May 22, 2018, 10:12 PM
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Anyone know if that site is reputable? Maybe their info on this tower is dated or incorrect?
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  #458  
Old Posted May 23, 2018, 3:18 PM
PleasantlyMidway PleasantlyMidway is offline
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They have had a few deals in hand that fell through. They are still seeking an anchor tenant to get the project off the ground, which I don't think they have.

I have heard rumors about Salesforce in the market for 500,000 SF

Last edited by PleasantlyMidway; May 24, 2018 at 6:49 PM.
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  #459  
Old Posted May 23, 2018, 4:47 PM
Vlajos Vlajos is offline
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^ 500K SF for Salesforce? That's massive
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  #460  
Old Posted May 23, 2018, 5:09 PM
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KWillChicago KWillChicago is offline
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500K is mega massive. Wouldnt that be half the building?
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