NAI Hiffman: Chicago’s industrial market stays hot

by Dan Rafter

Chicago’s industrial market is getting stronger, and showing no signs of slowing.

NAI Hiffman reported that during the first quarter of this year, the Chicago industrial market posted a positve net absorption of 3.2 million square feet of vacant space. That’s impressive. So is the industrial sector’s vacancy rate in Chicago, which fell 10 basis points from the end of 2014 to 7.8 percent at the end of the first quarter of this year.

Builders were busy, too, in this sector. NAI Hiffman reported that in the first quarter Chicago’s industrial market saw 2.5 million square feet of construction deliveries. Projects under construction in the first quarter stood at 13 million square feet.

The company reported, too, that more than 1 million square feet of construction was underway in the first quarter in the Southeast Wisconsin, Interstate-80/Joliet Corridor, Interstate-90 Northwest, Interstate-55 corridor and O’Hare submarkets.

Advertisements
This entry was posted in Chicago Commercial Real Estate, Illinois, Illinois real estate, industrial real estate and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s