Chi. Industrial Market Soars; O'Hare Submarket to See Changes

CHICAGO—The metropolitan area’s industrial market turned in another great performance in 2015, and shows every sign of continuing the now five-year positive trend. That’s according to a new research and forecast report from Colliers International. The firm found that the vacancy rate sank to a 14-year low, tenants absorbed about 14 million square feet and developers were more active than they have been since 2008. 

“It’s the strongest landlord market that I’ve ever seen, and I have been in the business since 1981,” Jack Rosenberg, national director for logistics and transportation for Colliers, tells GlobeSt.com. The market now has a 7.32% vacancy rate, 41 bps below the rate recorded at the end of 2014. Since peaking at 12.24% in early-2010, this rate is now well below those recorded during the active market of 2007.