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This Week's Chicago Deal Sheet (April 4, 2021)

One year after the start of the coronavirus pandemic, the Chicago-area industrial market’s vacancy and rental rates have nearly returned to pre-pandemic levels, according to a new report from Newmark.
Although the industrial sector took a hit in the first few weeks of the crisis, it began climbing back once the shock wore off and tenants saw increased demand from homebound consumers purchasing goods online. Many resumed signing leases, sending vacancy down to 6.2% in Q1 2021, a decade low, and recently have shown a willingness to pay more for space.
Courtesy of Newmark
“This sentiment of only a slight dip in the market as opposed to a full long-term stop is reflected in the rental rates on transactions completed during the pandemic,” according to the Newmark report. ....

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A conversation with: Matthew Whipple of Wohlsen Construction Company - Central Penn Business Journal

A conversation with: Matthew Whipple of Wohlsen Construction Company
Matthew Whipple
About Matthew Whipple
Matthew Whipple, 39, joined Wohlsen Construction Company earlier this year as director of risk management, and was recently promoted to vice president of risk management and senior counsel. He was previously a member of the law firm of Eckert Seamans Cherin and Mellott, LLC, where he frequently worked with the construction, engineering and real estate development industries.
Whipple holds a bachelor’s degree in history from the University of Pennsylvania and earned his juris doctorate from William and Mary Law School.
He lives in Manheim Township with his wife, Jessica, and their daughters, Beatrice, 7, and Eloise, 4. ....

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Ikea Cancels Its Catalog, Breaking a Vital Link in the Customer Journey

Furniture World News
By Pam Danziger on
12/28/2020
As 2020 draws to a close, every retailer is ready to close the books on this most disruptive of years. Ikea is quite literally closing its books. It is ending the 70-year run of its iconic catalog. The Ikea catalog will be relegated to a museum, where it becomes a nostalgic reminder of days gone by.
On the face of it, Ikea’s decision makes complete sense, as Enrique Dans explains on Forbes.com. It takes the company about a year to produce the typical 300-page catalog, which peaked at 200 million copies distributed through its stores and in the mail in 50 markets, 69 different versions and 32 languages. ....

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