A major player in the office-to-industrial redevelopment movement has called off plans to demolish two office buildings near Chicago and convert them to a warehouse, showing that even high-demand property types such as logistics are not immune from higher interest rates.
Office-to-Industrial Developer Calls Off Conversion Near Chicago
Dermody Properties Cites Rising Interest Rates in Halting Plan in Glenview, Illinois
By Ryan Ori
CoStar NewsDecember 13, 2023 | 4:44 P.M.
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IN THIS ARTICLE
- Properties
- Northbrook Pointe I
2211 Sanders Rd, Northbrook, IL
- Northbrook Pointe
2215 Sanders Rd, Northbrook, IL
- Companies
- Dermody
Real Estate