Unprecedented Demand Fuels Record-Breaking Year For Chicago Big-Box Industrial

Industrial users of the Chicago region’s biggest and most modern buildings just blew past the previous quarterly record for absorption, according to a Q3 report from Colliers International. This record-setting pace has gone on throughout the year, with users of big-box properties already setting a new annual record for absorption, even though one quarter remains.

Companies such as Amazon, Unis, Walmart and many logistics firms have scrambled throughout 2021 to lease the space needed to handle accelerating consumer demand. That competition pushed the big-box vacancy rate below the overall industrial rate for the first time since these numbers were tracked, Colliers found. It has also changed the fortunes of industrial developers, who until recently could sometimes wait years to fill up new buildings. 
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RSK: This trend is not just Chicago but all over the US!