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CHICAGO—Chicagoland retailersshould have steady tailwinds for the rest of the year, and acontinued slowdown in new construction projects will most likelytighten up the vacancy rates in many submarkets, according to a newmarket forecast from Marcus& Millichap.

Developers will add just another1.3 million square feet of new space to the inventory, mostly inthe suburbs, one of the lowest amounts in 11 years and a bigdrop-off from 2016, when 3.2 million square feet were completed.Still, M & M also says tenants will absorb about 2.5 millionsquare feet of space in 2017, which would make it the fourth yearin a row where absorption outpaced new supply.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.


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