While converting industrial spaces into creative offices is hardly a new concept, a report from Taylor Johnson client Transwestern outlines just how popular this value-add strategy has become in Chicago and other major cities across the country. In an interview facilitated by Taylor Johnson, Transwestern’s Sandy McDonald tells REJournals.com how creative office projects like 1KFulton, home to Google’s Midwest headquarters, are redefining what it means to be a Class A building by placing a special emphasis on lifestyle-oriented amenities and unique architectural features that add character to a building. The shift has generated big paydays for developers like Sterling Bay, which sold 1KFulton for $303.6 million, or $572 per square foot, in 2016. Click here to read the full story and here to download a copy of the Transwestern report.

A new Transwestern report details how creative office projects are generating staggering returns for investors.