The Chicagoland industrial market finished strong in 2018, but will it live up to the same success in 2019? The market is slightly overbuilt, but that is not preventing companies from taking advantage of the Chicagoland area. As the Midwest hub, the market is expected to perform well and hopefully record another great year in the books.
By now, as the commercial real estate community knows well, Amazon and the likes have sought after large Class A warehouse space as the e-commerce demand continues to grow. We live in the time of larger spaces and shorter delivery times. The perfect solution to address this challenge is found in last-mile distribution facilities. This article from Bisnow.com addresses the hidden value in these 30,000 to 65,000 SF facilities often overlooked by major corporations, but are now seeing the limelight as sought after property along major transportation ways. Click here to read the full article at Bisnow.com.
With the rise in online shopping and demand for faster delivery times, there is a need and change in big box industrial development. The Chicago area saw a 13.76% increase in development in response to the booming e-commerce industry. Can vacancy rates keep up with the extra warehouse and distribution centers and how is e-commerce impacting some firms' distribution infastructure? Read more in this article from GlobeSt.com