Original Post http://www.rejournals.com/2016/04/28 by: Stephanie Aguilar
The sun is rising on Chicago’s industrial sector. Recently ranked third strongest market in terms of demand for industrial space, with absorption at 3.9 million square feet, according to Cushman & Wakefield’s national first quarter 2016 report. The 13th Annual Industrial Summit experts confirm the data, and share some initial expectations for 2016.
- Vacancy in the market continues to decrease, breaking historical records with a current rate of 6.8 percent, Transwestern’s Q1 2016 research shows.
- Transwestern research shows that 13.8 million square feet of industrial/flex properties are currently under construction in Chicago.
- A growing number of investors are seeing the value in liquid investments of existing industrial product.
- Vacancies are expected to dip into the low 6 percent by year-end, Transwestern research notes, which is a new record for the Chicagoland market.
Read more at: http://www.rejournals.com/2016/04/28/chicago-clinches-third-spot-for-strongest-market-demand-in-this-years-first-quarter-and-now-we-know-why/