Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-While construction crews have been kept busy in DuPage and Will counties, the 3.9 million sf of build-to-suit activity across the market in the first half of 2003 is down 36% from the same period last year, according to the Alter Group. That drop comes despite 2.5 million sf of projects in Will County, up 30% from last year, and a rebound in DuPage County to 864,470 sf.

Cook County could hardly keep pace from a record-setting first half of 2002, when 2.8 million sf of build-to-suit activity was under way. That fell to 433,000 sf this year, according to the Alter Group. Build-to-suit activity continues to plummet in Kane County, dropping another 81% to 100,000 sf.

Meanwhile, no build-to-suit activity was seen in Lake County during the first half, the first time since the Alter Group began keeping score 13 years ago. And while McHenry County was shut out, build-to-suit deliveries have been absent there in six of the last 13 first halves, the developer reports.

The industrial sector is claiming 95% of the build-to-suits in terms of square footage, the Alter Group says. Four of the 23 projects are office buildings while one is a flex project.

The average six of the 23 projects is 170,492 sf, down 42%. However, three current projects account for 2.6 million sf, 66% of the total.

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?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.