The market has added more than 1.3 million sf of recently-builtspace, according to CB Richard Ellis. "There is some concern thatan increase in supply, both new construction and sublease space,could impact the market over the next several quarters," sayssenior vice president Bill Frain. "Ultimately, a return to strongerlevels of leasing, and lower vacancy rates, will hinge uponsustainability of growth within the manufacturing sector."
CB Richard Ellis tracked 8.4 million sf of lease deals duringthe second quarter, which represents a decline, with 2.4 million sfbeing written in the O'Hare submarket. Meanwhile, the South Side ofChicago has been the busiest submarket in terms of sales with 1.4million sf changing hands, followed by the North Side, O'Hare areaand Near West suburbs.
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