All signs point to a robust year ahead for the Chicagoindustrial market according to Cushman & Wakefield's Head ofMidwest Industrial David Freidland. Vacancy rates have decreasedfrom 6.8% this time last year to 5.5% at the end of Q4 2018. Withthe lack of space comes increased rental rates. In Q4 2017 rentalrates averaged $5.08 per square foot, while Q4 2018 rental ratesincreased to $5.45 per square foot. Add to this a low unemploymentrate – 4% in Chicago – and the ever increasing ecommerce sector,and Chicago industrial is set for another banner year.

GloebSt.com caught up with Freidland to get his thoughts on themarket, the headwinds to watch, and his thoughts on speculativedevelopment.

GlobeSt.com: What's your view of the overall Chicago industrialmarket as we enter 2019?

Freidland: We think 2019 is going to remain strong and besomewhat the same blueprint as 2018, which was a fantastic year.Our radar is up for 2020. The industrial pipeline is incrediblystrong and we have not seen anything to slow that down.