David Freidland

All signs point to a robust year ahead for the Chicago industrial market according to Cushman & Wakefield’s Head of Midwest Industrial David Freidland. Vacancy rates have decreased from 6.8% this time last year to 5.5% at the end of Q4 2018. With the lack of space comes increased rental rates. In Q4 2017 rental rates averaged $5.08 per square foot, while Q4 2018 rental rates increased to $5.45 per square foot. Add to this a low unemployment rate – 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 the market, the headwinds to watch, and his thoughts on speculative development.

GlobeSt.com: What’s your view of the overall Chicago industrial market as we enter 2019?

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

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.