We have a 20-year track record producing accurate market insights for the largest investment managers in the United States.

Jon Southard

Chief Economist

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Jon is the Chief Economist at ForeGround and also serves as the Vice President of the Commercial Real Estate Economics group at NORC at the University of Chicago. 

Previously, Jon was a founding employee at Torto Wheaton Research, aka CBRE Econometric Advisors, where for more than 20 years he forecasted markets in the office, industrial, retail, multi-housing, and hotel sectors. He also served as Director of Debt and was instrumental in developing and directing Commercial Mortgage Metrics, a product developed in partnership with Moody’s Investor Services to analyze risk in commercial mortgage portfolios. Jon also served as Chief Economist and Managing Director for Torto Wheaton Research.  

Jon has authored numerous articles for academic journals and books and has been quoted widely in the press, including The Wall Street Journal and The New York Times. Jon has been a featured speaker at real estate and economic conferences, including the Urban Land Institute, Mortgage Bankers Association, American Council of Life Insurance, and Commercial Mortgage-backed Securities Association as well as conferences sponsored by the Federal Reserve and the International Monetary Fund.

Jon is an active member of the Urban Land Institute (ULI), the Pension Real Estate Association (PREA), and the National Council of Real Estate Investment Fiduciaries (NCREIF). He is a previous Treasurer of the Real Estate Research Institute (RERI) and a Hoyt Fellow at the Homer Hoyt Institute.

He holds a master’s degree in economics from Brown University and a bachelor of arts degree in economics from Carleton College.  

Abby Rosenbaum

Senior Economist, Retail Sector

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As a Senior Economist, Abby leads ForeGround’s retail sector forecasts and analysis.  

Prior to joining NORC, Abby was a Senior Economist at CBRE Econometric Advisors. She also was a Quantitative Analyst with UBS and an Actuarial Analyst with Fidelity Investments. 

Abby has been quoted in the press, including The Economist, The Wall Street Journal, and The New York Times. She has been a featured speaker at real estate conferences, including NCREIF, ICSC, and the Real Estate Group of Atlanta.

She holds a master’s degree in economics from the University of Connecticut and a bachelor of science degree in mathematics from Union State College.

Jared Sullivan

Senior Economist, Industrial Sector

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Jared Sullivan is a Senior Economist at ForeGround. He manages the production of ForeGround’s industrial forecasts and is responsible for monitoring macroeconomic trends and how they will impact the industrial sector. Prior to joining NORC, Jared was a Senior Economist at CBRE Econometric Advisors, where he managed the group's industrial real estate platform. 

Jared is a member of NAIOP, the Commercial Real Estate Development Association, and is one of NAIOP’s Emerging Leaders. 

Jared speaks German; he holds a bachelor of science degree in economics and a master’s degree in applied economics from Montana State University.

David Churella

Economist, Apartment Sector

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David is an Economist at ForeGround, specializing in analysis and forecasting of the apartment sector. 

Prior to joining NORC, David was a Senior Programmer Analyst at CBRE Econometric Advisors. There, he was a member of the team responsible for designing and managing the database systems that underlie the group’s forecasting platforms. 

David holds a master’s degree in economics and a bachelor of arts in quantitative economics, both from Tufts University.

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Insights from ForeGround Economists

Blog Entry

The Record-Breaking Sale of Shops at Crystals in Las Vegas

The recent sale of the Shops at Crystals (in the CityCenter mixed-use campus) for a record breaking $1.13 billion is proof of the commercial real estate recovery remaining in full swing in Las Vegas.

Abby Rosenbaum
March 25, 2016



Blog Entry

The Cranes Outside Our Windows

Boston's current pace of multi-family apartment construction is unprecedented.

David Churella
March 23, 2016



Blog Entry

Lower for Longer May Also Apply to Houston Office Values

It's not just watchers of oil prices that should be worried about "longer for lower".

Jon Southard
March 7, 2016



Blog Entry

Where Does Amazon Put its First Store? In Seattle, Of Course

Another sign of the strength of Seattle’s retail industry, Amazon, after operating for 20 years, has opened its first book store, Amazon Books, in Seattle. 

Abby Rosenbaum
March 7, 2016