Elizabeth O’Brien Shares 2025 Commercial Real Estate Trends in Crain’s Chicago Business

The commercial real estate market nationwide remains in a state of gradual transformation, yet a cautious optimism is emerging. Landlords are adapting to hybrid work trends, retail spaces are steadily being reoccupied, and new opportunities are arising for properties ready for rehabilitation. In an article for Crain’s Chicago Business, LP’s Real Estate Practice Group Leader, Elizabeth O’Brien, shares three key trends LP is tracking closely:

• Move-in ready offices – With rising demand for office space, landlords are turning to speculative suites—fully built, move-in ready offices—to attract tenants and reduce construction risks.
• Resurgence of retail – Retail-led commercial real estate in 2025, entered the lowest vacancy rates, while industrial demand rebounded amid tenant preferences and nearshoring trends.
• Refinancings and loan assumptions – About $1.5 trillion in commercial real estate debt maturing in 2025 is creating refinancing challenges and opportunities for distressed asset deals.

Read the full article on Commercial Real Estate Trends to Watch in 2025 here.