January 9, 2020

at-msp-v2_Q3 2019 Market Overview

The Chicago industrial market had another quarter of positive growth in Q3 2019, but despite the positive absorption, the availability rate increased to 6.1%. Construction starts total 13.8 million square feet during third quarter and closed with 1.7 million square feet of positive net absorption. This reflects the 37th consecutive quarter of positive net absorption, a streak that began Q3 2010. The quarter ended with 27.6 million square feet of lease transactions, reflecting an 11% increase compared to one year ago. User sales posted 8.6 million square feet, representing a major uptick in activity compared to last quarter.
 
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