Quote:
Originally Posted by Steely Dan
before all of this insanity, Hines was due to start construction on a new large office tower here in chicago this spring. with anchor tenant Salesforce already signed on, it is proposed to be ~1.5M SF and 835' tall.
we've heard that financing has already been lined up, and with Hines, that's generally a pretty safe bet under normal circumstances, but we are no longer under normal circumstances.
it will be very interesting to see what happens with this one in the coming weeks/months. it could be the canary in a coal mine.
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Good news!
The above project landed a $500M construction loan today!
That's a most welcome sign for large scale office construction during all of the current madness.