Industrial Sector Attracting New Players

Next Realty’s 7233 W. Dempster in Niles, IL, is one of the firm’s typical retail properties. It now feels it’s time to jump into the industrial sector.

CHICAGO—It’s well-known that the industrial real estate, especially in the Chicago metro area, has shown tremendous strength. And the current boom, fueled by both the overall economy and the remarkable expansion of e-commerce, looks like it’s going to last longer than past expansions. And that rosy outlook is helping pull more commercial real estate professionals into the industrial sector.

Next Realty, Inc. a Skokie, IL-based investment firm, has decided to expand its reach and focus by hiring industrial specialist R. Tyler Hardy as director of acquisitions. Internet competition has already caused the company to adjust how it runs its many retail properties. Next now has a special focus on bringing in tenants that provide services, such as nail salons or healthcare users, that immunize their centers from competition with e-commerce. But with Hardy on board, the company can take a direct role in a sector with so much promise.