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Old Posted Aug 11, 2021, 3:35 PM
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Klippenstein Klippenstein is offline
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Join Date: Apr 2021
Location: Chicago, IL
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https://rejournals.com/chicago-area-witnesses-20-year-record-low-industrial-vacancy/

Quote:
Chicago area witnesses 20-year record low industrial vacancy

Investment in industrial has far outpaced other asset classes, particularly office buildings, the report illustrates. For example, there was $4.4 billion in industrial investment from the beginning of 2020 through the end of Q2 2021 in the Chicago area whereas downtown office saw just $2 billion of investment in the same period.
[...]
Within the Chicago region, there are currently 15 projects under construction that will be 750,000 square feet or larger when completed. Additionally, base rents have increased by 11.7% since the start of the pandemic. Not only does the demand mean big business for industrial property developers, but the report indicates that employment in transportation, warehousing and utilities rose by over 76,000 jobs between May 2020 and May 2021, representing the second highest job growth sector in the region.
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