February 2017

REmark: Speculative Industrial Construction

Since the beginning of 2015, the Chicago industrial market has added 41.01 M SF of new construction (which accounts for 3.30% of the entire 1.24 B SF metro Chicago industrial supply.) Of the 41.01 M SF of new supply added in the past two years, over one-third (14.36 M SF, 35.02%) is spec buildings over 300,000 SF. Of that subset, 41.57% (5.97 M SF) is currently vacant: 30.79% of 2015 completions (1.94 M SF of 6.30 M SF), and 50.00% of 2016 completions (4.03 M SF of 8.06 M SF). Overall vacancy in the industrial market is 6.58%.
 

Recent Blog Posts

Culture
Events
News
8th Annual Funding Futures Chicago Saturday, January 18 between 7:00 PM – 11:30 PM at FitzGerald’s Nightclub
January 2020

8th Annual Funding Futures Chicago Saturday, January 18 between 7:00 PM – 11:30 PM at F...

Brokerage
News
NAI Hiffman Timelines: Creating Value in Chicago’s I-80 Industrial Corridor
January 2020

NAI Hiffman Timelines: Creating Value in Chicago’s I-80 Industrial Corridor

News
NAI Hiffman completes 145,000-SF industrial lease for CPG.IO in Addison
January 2020

NAI Hiffman completes 145,000-SF industrial lease for CPG.IO in Addison