Avison Young News: Find Out the Latest Industry Happenings

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Chicago Industrial: Full Speed Ahead at End of Second Quarter

Chicago Industrial: Full Speed Ahead at End of Second Quarter 15 Jul 2021

"The Chicago industrial market continues to move at full speed at mid-year 2021, with strong tenant demand keeping vacancy around 6 percent, despite 64.7 million square feet of new construction added since 2018. 

At this stage in the pandemic recovery, large corporate healthcare, retail, logistics and e-commerce businesses continue to drive much of the leasing activity, which totaled 27.5 million square feet near the mid-point of 2021. Companies such as Wayfair, which is building a 1.2 million-square-foot distribution facility in the I-55 Corridor, are joining the ranks of Walmart, Target, Amazon, Home Depot and others that are expanding their industrial space in the Chicago market to keep pace with soaring demand."

Click here for the full story by Avison Young's Adam Haefner