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The new year in Chicago business is starting out like the old one, with another multibillion-dollar buyout of a local company in the works. Baxalta is in advanced talks to sell itself to Shire for nearly $33 billion in cash and stock, according to Bloomberg News and the Wall Street Journal. Why 2016 is looking like 2015 all over again.Due to maxing out on current space and staff, many companies will need to expand their office footprint in order to accommodate growth this year, PM Realty Group‘s EVP and managing director Jim Proehl tells.What trends in architecture and design for commercial real estate will we see in 2016? Based on the opinion of experts in the field, here are some possibilities: – Chicago Architecture Blog.will continue occupying its headquarters in a building located at 5 Revere Drive. Bradford Allen Realty Services has arranged a 7,700-square-foot lease renewal in Northbrook, approximately 25 miles northwest of Chicago.There is still ongoing demand for regional hospital systems to continue to merge operations (Northshore and Advocate are the most recent), that these trends in health care real estate will likely continue, resulting in flat absorption rates for vacant space. This stems from medical tenants no longer needing to house medical records on-site, a reduced demand for large private physician offices, and medical equipment shrinking in size due to technological advancements. General space reductions, usually by 5-15% of the total square footage.“Retail” consolidations of formerly separate offices, usually occurring after multiple independent practices become employed by the same hospital system.

Activity and overall deal velocity has remained strong, but the vast majority of Q1 and Q2 deals have not resulted in any positive space absorption.

At mid-year 2016 the total occupancy for on-campus medical office space in suburban Chicago remained flat from the start of the year.

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