Report: A Chicago Exit Strategy for Vornado?

August 1, 2012  by in UnCategorized   

By Aggregated Content in Business Strategy on August 2, 2012 from http://professional.wsj.com/article/SB10000872396390444130304577559731999895366.html?mod=WSJ_RealEstate_MIDDLETopNews&mg=reno-wsj

Last week's news that Vornado Realty Trust landed Google as a tenant for the Chicago Merchandise Mart, one of the city's largest office buildings, was viewed by many as a big win for downtown Chicago. But to real-estate industry executives, the deal is also a coup that may help Vornado speed up its exit from the furniture-mart business.

Since late last year, Vornado, based in New York and one of the nations's biggest office and retail landlords, has surprised skeptics by whittling down its trade-show and furniture-showroom division. 

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