"Large corporate consolidations in the I-55 Corridor greatly contributed to the increase in vacancy rates in the far southwest suburban submarket, in addition to a significant amount of new product that came online in the third quarter," says CB Richard Ellis first vice president Dave Prioletti, SIOR. "Further adding to this figure in the southwest market is the unexpected early departure of Central American Warehouse, a 650,000-square-foot property in the Carlow Corporate Center of Bolingbrook, with its consolidation into other existing leased and owned facilities."
Meanwhile, the strongest submarket is the near west suburbs, where the vacancy rate hovering at 7.2%.
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