Cawley Chicago is pleased to announce Josuha Hearne has been nominated for Real Estate Forum's Top Industrial Broker.
The November/December issue of Real Estate Forum will be profiling some of the most prolific leasing and investment sales brokers in the US industrial real estate sector. This biennial feature will rank the top agents throughout the country, based on a years' worth of transaction activity.
All of us at Cawley wish the best of luck to Josh!
“Investors are all trying to get into the last-mile sector, especially in core markets,” Steve Poulos, Bridge’s founder and chief executive officer, tells GlobeSt.com. “These properties are highly sought after,” partly because they are so hard to create. The company has already been hard at work across the nation buying land, clearing infill sites, cleaning up environmental problems, and putting up such distribution centers. “This portfolio sale is part of the $1.1 billion of new state-of-the-art industrial assets Bridge will sell in 2017.” And hundreds of millions in additional sales could close in the first few months of next year.
Duke and Bridge will complete this latest transaction in phases. The first phase closed on September 27th and the firms expect the final phase will close near the end of the year. In addition to the 10 completed properties, the deal includes two land parcels on which builders will construct two properties totaling 852,745 square feet, beginning later this year. Once fully constructed, the total cost of the portfolio will be almost $700 million.
It’s a good time for the developers and investors in the industrial sector. The current streak of positive absorption, already one of the longest ever, should last well into next year, experts say. Almost half of the 167 million square feet of US warehouse space under construction in the first quarter—72 million square feet—had been pre-leased by tenants, primarily e-commerce, third-party logistics and retail users, according to a recent report from CBRE Group, Inc. And that means developers have not overbuilt."
Being an entrepreneur can be challenging, rewarding, frustrating, satisfying, disappointing, and exhilarating. To help you through all the highs and lows of starting your own business, I’ve gathered some of my favorite inspirational quotes for entrepreneurs. Let these words of wisdom motivate you on every step of your entrepreneurial journey:
1. “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” –Steve Jobs, Co-Founder of Apple
2. “Choose a job that you like, and you will never have to work a day in your life.” -Confucius, Philosopher
3. “A person who never made a mistake never tried anything new.” -Albert Einstein, Physicist
It can be nerve-racking to step into a room with busy people and, in the short time you have available, get them excited about your project—one you know is solid. While part of preparing for that meeting is getting your numbers together, the way the information is presented matters a lot, too. So how do you make sure you’re putting your best foot forward?
To find out, we asked 10 members from Young Entrepreneur Council this question.
Q. What is your top tip for practicing your pitch to new investors?
1. Present to friends
I am a big believer in pitching to friends. If you can’t get through your pitch to them, you may struggle when the pressure is on. Allow them to give notes. Did you rush? Did something not make sense? Were you engaging? It’s good to get out of your head and allow others to hear what you have to say before it is all on the line.
In one of the largest land transactions of the year, about 143 acres, Cawley Chicago represented a joint venture partnership led by Venture One Real Estate in the acquisition of the land parcel in southwest suburban Channahon, Illinois.
The land acquisition is part of a phased acquisition that will ultimately total 292 acres. Venture One has planned a 1-million-square-foot speculative warehouse facility, Crossroads 55 Business Park.
Joshua Hearne, SIOR, Senior Executive Vice President and Principal at Cawley, represented Venture One in the acquisition. The seller was represented by Marquette Properties based in Morris, Illinois.
“Chicago is a broker-dominated, relationship-driven real estate community,” Hearne said. “When we first learned of the availability of this significant and extremely well-located opportunity, we brought it to Venture One knowing they had the vision and expertise to take down the site and quickly move it through the various processes necessary to launch the development.”
Cawley Chicago was a proud sponsor of the annual Hinsdale Community House 3 on 3 Basketball Tournament. The tournament is a fundraiser for improving the services offered at the Hinsdale Community House which provides activities, counseling, classes and more to people in the surrounding communities. In addition to sponsoring the event, Cawley team members were happy to volunteer their time assisting in court monitoring, setup crew, and the hydration station.