Monthly Archives: October 2026

Bradford Allen Expands New York Retail Team With Kate Bagwell

Published October 9, 2026
Bradford Allen Expands New York Retail Team With Kate Bagwell

NEW YORK — Bradford Allen has announced that Kate Bagwell has joined the firm’s Manhattan office as a retail broker, expanding the company’s retail capabilities in the New York market. Bagwell will focus on tenant and landlord representation, advising retailers and property owners across a broad range of retail categories.

Bagwell brings nearly a decade of commercial real estate experience spanning retail leasing, tenant representation and merchandising strategy. Most recently, she worked as a retail broker at Colliers, where she represented national and multi-location retailers on leasing and expansion.

Earlier in her career, Bagwell spent six years with Urban Partners in Dallas, where she served as leasing director and oversaw retail leasing and merchandising strategies for West Village. She also co-founded MKT Dallas, a boutique retail concept designed to activate underused space, and led its expansion across Texas.

“Kate brings a strong understanding of retail from both the tenant and ownership perspectives, making her a valuable addition to our growing New York team,” said Mitzi Flexer, managing director, brokerage services at Bradford Allen. “Her experience shaping retail environments and working with expanding brands will be especially valuable as we continue to build our retail platform and provide clients with thoughtful, market-driven guidance.”

At Bradford Allen, Bagwell will work alongside the firm’s New York retail team to advise retailers on site selection, market strategy and expansion while partnering with owners on leasing and merchandising strategies.

“Bradford Allen offers an opportunity to build on my experience and work with a diverse range of retailers and owners,” Bagwell said. “I’m excited to work alongside a team with deep market knowledge and strong relationships and to help clients identify opportunities that support their long-term goals.”

Bagwell’s addition reflects Bradford Allen’s continued investment in its retail platform as the firm expands its presence and capabilities in New York.

About Bradford Allen

Bradford Allen is a national commercial real estate services and investment firm headquartered in downtown Chicago. Founded in 2003 by Jeffrey Bernstein and Laurence Elbaum, the company’s vertically integrated platform services entrepreneurial, corporate and not-for-profit clients in every sector. Bradford Allen offers end-to-end solutions to owners, occupiers and investors through brokerage and advisory services, building operations and management, program management and consulting, and real estate investments and development. For more information, visit bradfordallen.com.

 

Q3/26 Downtown Chicago Office Market Report

Published October 8, 2026

This quarter in Chicago’s downtown office market: 

  • Leasing reached approximately 1.8 million square feet, the lowest quarterly volume since Q2/23, led by Morningstar’s 275,000-square-foot lease at the Thompson Center. 
  • Direct vacancy rose slightly to 25.0% from 24.4%, and net absorption was approximately negative 269,000 square feet as several large vacancies hit the market, including Boeing’s 150,000-square-foot vacancy at 100 N. Riverside Plaza. Year-to-date net absorption is approximately negative 398,000 square feet. 
  • More than half of Q3/26 property sales were earmarked for redevelopment or conversion. These properties could potentially remove nearly half a million square feet from CBD office inventory. 
  • Investment sales totaled $81 million in Q3/26, down from over $416 million in Q2/26, while year-to-date volume of over $849 million is up 67% compared with 2025. 
  • Move-in-ready suites accounted for 30.2% of all leasing year to date, more than double the 6.6% share in 2017. 

 

Bradford Allen’s Hyatt Centric Chicago O’Hare Wins 2026 Northstar Stella Award

Published October 7, 2026
Bradford Allens Hyatt Centric Chicago OHare Wins 2026 Northstar Stella Award
Rosemont hotel recognized for Best Renovation in the Midwest following comprehensive transformation

ROSEMONT, Ill. — Bradford Allen, a national full-service real estate firm, today announced that Hyatt Centric Chicago O’Hare has been named a 2026 Northstar Stella Award winner for Best Renovation in the Midwest. The recognition follows Bradford Allen’s comprehensive transformation of the Rosemont hotel, which reopened under the Hyatt Centric flag in 2025.

Bradford Allen acquired the former Hyatt Rosemont Chicago O’Hare in 2022 and subsequently completed an extensive renovation that reimagined the property as a 206-room lifestyle hotel. The project included completely remodeled guest rooms, upgraded common areas and meeting spaces, a reconfigured lobby, new building systems and the addition of CIMA, a Mediterranean-inspired restaurant and bar.

“This recognition reflects the vision we had for the property from the outset and the work that went into bringing that vision to life,” said Aghfar Arun, executive director, hospitality at Bradford Allen. “We saw an opportunity to reimagine the hotel and create something distinctive for the Rosemont/O’Hare market. Every decision, from the guest rooms and meeting spaces to the lobby and dining experience, was made with that goal in mind, and we’re proud of the result.”

The renovated hotel offers more than 7,600 square feet of flexible meeting and event space, including the 4,000-square-foot Lindbergh Ballroom, 3,000-square-foot Coleman Ballroom and executive Earhart Boardroom. Additional improvements included an all-glass porte cochere, redesigned fitness center, new food and beverage spaces, private dining areas, two junior suites and a presidential suite.

Located at 6350 N. River Road, Hyatt Centric Chicago O’Hare is less than two miles from O’Hare International Airport and near the Donald E. Stephens Convention Center, Rivers Casino, Allstate Arena and Fashion Outlets of Chicago. The hotel also offers complimentary airport shuttle service and covered parking.

Presented by Northstar Meetings Group, the Stella Awards recognize hotels and hospitality industry suppliers for excellence across the meetings and events industry. The 2026 program drew a record 1,167 nominations across 16 categories and six global regions. Finalists were determined through voting by meetings and events professionals, with winners selected by an expert panel of judges overseen by Northstar Meetings Group’s editorial brands.

Since launching its hospitality platform in 2022, Bradford Allen has expanded its portfolio across multiple U.S. markets, with Hyatt Centric Chicago O’Hare serving as one of the firm’s most significant hotel repositioning projects.

About Bradford Allen

Bradford Allen is a national commercial real estate services and investment firm headquartered in downtown Chicago. Founded in 2003 by Jeffrey Bernstein and Laurence Elbaum, the company’s vertically integrated platform services entrepreneurial, corporate and not-for-profit clients in every sector. Bradford Allen offers end-to-end solutions to owners, occupiers and investors through brokerage and advisory services, building operations and management, program management and consulting, and real estate investments and development. For more information, visit bradfordallen.com.

 

Rethinking the Approach to Hotel PIPs

Published October 2, 2026
Bryan WIlliams and Hotel PIPs

As rising construction and FF&E costs make property improvement plans increasingly expensive, hotel operators have an opportunity to take a more strategic approach to required upgrades.

In a recent byline, Bryan Williams, senior director, hospitality at Bradford Allen, outlines five ways operators can build a stronger case for PIP flexibility while maintaining brand standards and protecting the guest experience. Williams explores how preventive maintenance, thoughtful capital planning, and strong brand relationships can support requests for waivers, substitutions, or phased improvements while prioritizing long-term asset value. Read Williams’ full article here: https://lodgingmagazine.com/pip-flexibility-5-ways-hoteliers-can-build-a-stronger-case-to-negotiate-with-brands/