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The Innovation Challenge calls for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to build public-private and community partnerships, nurture entrepreneurship and upgrade infrastructure.
Very few concessions are being offered in large markets such as Providence, Riverside/San Bernardino, Sacramento, Minneapolis/St. Paul and Boston, with discounts on only about 5% to 7% of apartments.
Chicago's hotel supply has accelerated over the past few months, due primarily to projects in the River North submarket, the report states. The influx of new product has caused occupancy to decelerate, but only slightly.
Overall, 2018 was the cycle's best year with 52.2 million square feet of gross leasing across all industries, while 2011 was the second best at 45.3 million square feet, according to a report by Cushman & Wakefield.