August 22, 2019

Q2 2019 Market Overview3

The Chicago industrial market had another quarter of positive growth in Q2 2019, but despite the positive absorption, the availability rate increased to 5.5%. Construction starts total 2.3 million square feet during second quarter and closed with 3.8 million square feet of positive net absorption. This reflects the 36th consecutive quarter of positive net absorption, a streak that began Q3 2010. During that time, 163 million square feet of space has been absorbed. The quarter ended with 7.8 million square feet of lease transactions, reflecting a 10% decrease compared to one year ago. User sales posted 1.6 million square feet in activity, down 59% from the same time last year.

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