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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

Nov 9, 2021

2021 Q3 Chicago Industrial Big Box Report

Big box demand – as measured by net absorption – set a new high for the second time during 2021 during the third quarter, totaling 8.6 million square feet. This demand, largely influenced by continued strong new leasing in big box buildings and build-to-suit completions, pushed the year-to-date net absorption tally to 23.9 million square feet, a total 37 percent greater than any previous annual total, with another quarter to go. As a result, the vacancy rate among Chicago’s biggest and most modern buildings dropped by 47 basis points between July and September to 5.83 percent, one of the lowest rates ever recorded, and the first time the big box vacancy rate has been below the overall industrial vacancy rate since records have been kept
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Oct 27, 2021

2021 Q3 Chicago Industrial Market Report

Record construction deliveries, highlighted by the completion of eight build-to-suit projects totaling a massive 11.2 million square feet combined with a record-matching 15.4 million square feet of new leases and lease expansions to push net absorption to 18.2 million square feet during the third quarter of 2021, nearly double the previous quarterly net absorption record of 9.6 million square feet recorded in 2011.
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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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