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2019 Q3 Chicago Industrial Big Box Report

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Big Box Industrial Completes Another Big Quarter

Chicago's big box industrial market recorded the strongest gain in occupancy in more than two years during the third quarter of 2019. Net absorption totaled 6.4 million square feet between July and September, bringing the year-to-date tally to 13.3 million square feet, eclipsing the 10.9-million-square-foot total for all four quarters of 2018. 

As a result, the big box vacancy rate decreased by 10 basis points during the third quarter to 8.52 percent, and is now 52 basis point below the 9.04 percent rate recorded one year ago. 

Strong new leasing activity and the delivery of six big box build-to-suit projects totaling 3.7 million square feet was behind the significant gain in occupancy recorded during the third quarter of 2019. New leases and lease expansions in big box buildings totaled 4.6 million square feet among 19 leases. Through the first three quarters of 2019, 13.5 million square feet of new leasing volume has been signed.


Industrial Big Box Report Chicago

2019 Q3 Chicago Industrial Big Box Report

Download Report