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chi-woodman buffalo grove (2) In suburban Buffalo Grove, Woodman’s Market will anchor this 236,000-square-foot center due for completion later this year, one of the few major new retail projects in the region.

CHICAGO—As reported in GlobeSt.com, a new report from Marcus & Millichap states that vacancy among the Chicago region’s retail properties has tightened to the lowest level in 10 years. Furthermore, according to its 2018 forecast, that rate will drop a further 64 bps after an estimated 4.4 million square feet of absorption. But one of the reasons for that decline is that developers have remained careful about building new spaces, partly because the competition from e-commerce has made the future of many retail outlets so uncertain.

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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