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Craig Hurvitz | Colliers | Chicago - Rosemont

Craig Hurvitz

Senior Director of Research

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About

Professional Summary

I am vice president, market research at Colliers International | Chicago and lead the Industrial Advisory Group’s market research initiative. I am responsible for managing and maintaining the industrial properties database, which includes property sales and leases, tenant information and comparable transactions. I have a deep understanding of the Chicago-area industrial real estate market and provide in-depth analyses, reports and market trends that are referenced by a diverse group of clients including landlords, appraisers and developers. I am considered an expert in the field and am frequently featured in industry newspapers and publications. 

I have more than 10 years of industry experience having served as the director of research for both NAI Hiffman, and most recently Newmark Grubb Knight Frank. In this role, I oversaw the local research departments and provided comprehensive reports on market statistics in the Chicago and regional commercial real estate markets.

I began my real estate career as director of marketing for Rosemont-based Epic Realty Partners, now affiliated with Transwestern. 

Education

  • BA, Tulane University

Services

Service Lines

Research

Property Type

Industrial

Featured Research

Aug 16, 2021

2021 Q2 Chicago Industrial Big Box Report

Following record net absorption during the first quarter of 2021, Chicago’s biggest and most modern industrial buildings posted near-record net absorption again during the second quarter, totaling 7.1 million square feet. This demand resulted in a net absoprtion total of 15.3 million square feet through the first six months of 2021, eclipsing the 15.1-million-square-foot net absorption total from all four quarters of 2020. Record new leasing activity totaling 8.6 million square feet, only three big box construction completions, and few new vacancies pushed the big box vacancy rate down 185 basis points to 6.30 percent, one of the lowest rates ever recorded among big box buildings.
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Jul 29, 2021

2021 Q2 Chicago Industrial Market Report

Tenants signed 173 new leases and lease expansions larger than 10,000 square feet during the second quarter of 2021 totaling 15.4 million square feet – the greatest quarterly new leasing volume ever recorded in the Chicago industrial market. This activity follows on the heels of two quarters where the new leasing volume fell into the top six greatest quarterly totals. Not only have established users been expanding, Chicago’s robust and diverse industrial market has been attracting new companies as well.
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May 20, 2021

2021 Q1 Chicago Industrial Big Box Report

Demand for Chicago’s biggest and most modern industrial buildings set a new record during the first quarter of 2021. Net absorption – the net change in occupied space – totaled 8.2 million square feet during the first three months of the year, the greatest quarterly total ever recorded for the big box product type. The completion of four build-to-suit projects totaling 4.7 million square feet, combined with a 31 percent increase in new leasing volume totaling 8.2 million square feet for the quarter, was behind this jump in demand. As a result, the big box vacancy rate decreased by 36 basis points to 8.15 percent.
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