10 min
Battle of the Submarkets: Midwest Edition JLL Chicago Industrial Real Time
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- Business
Welcome to Episode 25 and another submarket battle! In this segment we discuss market trends seen in several cities. You’ll learn about vacancies, absorptions, developments underway and the largest sale in one market’s history. 1:08 – “All figures pointing in the right direction with vacancy holding steady and demand being driven by midsized deals.” – Chad Buch, Research Manager, Chicago 1:56 – “Vacancy is consistently coming down, a lot of preleasing, average spec building size is 150,000 to 200,000.” – Tyler Hegwood, Senior Research Analyst, Minneapolis 3:00 – “Much of the absorption is driven by build-to-suit (BTS), and a large proportion of construction is BTS due to specialized building needs.” – Andrew Thompson, Senior Research Analyst, St. Louis 4:08 – “Historically low vacancy for modern bulk, over 1 million square feet of spec this year since Cleveland has historically been a BTS market.” – Johnathan Miller, Research Analyst, Cleveland 5:45 – “Construction keeps on coming out of the ground, over 11 million square feet is underway, and rents are up 5% year-over-year.” – Mike Cagna, Research Manager, Indianapolis 7:24 – “Lots of institutional investment happening, and the largest portfolio sale in market history.” – Carolyn Bates, Director of Research, Minneapolis
Welcome to Episode 25 and another submarket battle! In this segment we discuss market trends seen in several cities. You’ll learn about vacancies, absorptions, developments underway and the largest sale in one market’s history. 1:08 – “All figures pointing in the right direction with vacancy holding steady and demand being driven by midsized deals.” – Chad Buch, Research Manager, Chicago 1:56 – “Vacancy is consistently coming down, a lot of preleasing, average spec building size is 150,000 to 200,000.” – Tyler Hegwood, Senior Research Analyst, Minneapolis 3:00 – “Much of the absorption is driven by build-to-suit (BTS), and a large proportion of construction is BTS due to specialized building needs.” – Andrew Thompson, Senior Research Analyst, St. Louis 4:08 – “Historically low vacancy for modern bulk, over 1 million square feet of spec this year since Cleveland has historically been a BTS market.” – Johnathan Miller, Research Analyst, Cleveland 5:45 – “Construction keeps on coming out of the ground, over 11 million square feet is underway, and rents are up 5% year-over-year.” – Mike Cagna, Research Manager, Indianapolis 7:24 – “Lots of institutional investment happening, and the largest portfolio sale in market history.” – Carolyn Bates, Director of Research, Minneapolis
10 min