Industrial vacancy rate keeps falling amid `unbelievable` demand

It’s getting hard to find new superlatives to describe the strength of the market for warehouse space in the Chicago area.

Fueled largely by the e-commerce boom, the local industrial vacancy rate dropped to 6.15 percent in the third quarter, down from 6.25 percent in the second quarter and 6.4 percent a year earlier, according to Colliers International. The local vacancy rate hasn’t been that low since the beginning of 2001.

“The demand has just been unbelievable,” said broker Fred Regnery, principal in Colliers’ Rosemont office.
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RSK: With our proximity to Chicago and Milwaukee, even we are seeing tighter demand. SE Wisconsin can`t build space fast enough.