Microsoft Deal Boosts Second-Quarter Sales
Chicago Real Estate Daily reports: The value of local commercial real estate sales edged up 3% to $369.3 million in the second quarter, compared to the first quarter, thanks to Microsoft Corp.’s purchase of its west suburban data center, which accounted for nearly half the total.
Without that unique deal, the drive to the bottom of the real estate investment market would have continued. Excluding Microsoft, sales plunged 47%, to a mere $188.3 million during second quarter, compared to $358.6 million in the first quarter, according to data provided by New York research firm Real Capital Analytics Inc.
Even with the Microsoft deal, sales during the first six months of 2009 plunged 84%, to $727.9 million, compared to $4.6 billion during the first half of 2008, according to the report, which tracks sales of office, apartment, industrial and retail real estate.
View the full article on Chicago Real Estate Daily: Microsoft Deal Boosts Second-Quarter Sales
Posted by: Mark Alferman