October 2017

Suburban Offices are Cool Again

For millennials, the suburbs are the new city, and employers chasing young talent are starting to look at them anew. As recently noted in Crain's Chicago Business; many employers, hoping to attract millennials as they age, are trying to marry the best of urban and suburban life, choosing sites near public transit and walkable suburban main streets. "What's desired downtown is being transferred to suburban environments to attract a suburban workforce," says Scott Marshall, an executive managing director for investor leasing at CBRE Group.
ISTP tenants are also expanding.  Fresenius Kabi broke ground to significantly expand its presence in Melrose Park, Ill. When complete the new manufacturing campus will include the newest technologies and processes for the aseptic manufacturing of generic injectable medicines.
At the Park, NuMat Technologies has recently committed to a significant expansion of their facilities. NuMat has about 20 employees from 8 countries and expects to grow to 30 in 2018 with 80% devoted to research and development.