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Second Quarter 2016 Market Reviews

Second Quarter 2016 Market Reviews

NAI Hiffman Second Quarter Market Reviews


Market Reviews

Second Quarter 2016

 

Industrial Absorption Continues Positive Run

Demand for industrial space remains strong as positive absorption continues at mid-year.

 

  • Positive net absorption of 2.2 million SF
  • Vacancy rate increased to 7.25% due to spec deliveries
  • Construction completions totaled 3.5 million SF
  • 17.4 million SF under construction
     

Please take a closer look at Chicago's industrial market activity during the second quarter which includes charts, graphs and tables highlighting market fundamentals, and significant sale and lease transactions for the overall industrial market, as well as a breakdown by submarket. 

 

Download the complete industrial review.

 

Office Vacancy Drops in the Suburbs, Slight Rise in the CBD

The suburban office market rebounded second quarter: 
 
  • Positive net absorption of 585,526 SF
  • Vacancy rate fell to 17.53%
  • Premier Class A gross asking rents increased to $29.63 PSF

Vacancy rose slightly for the CBD office market second quarter: 
 
  • Negative net absorption of 146,860 SF
  • Vacancy rate increased to 11.18%
  • A total of 5 construction projects are underway
     
Please take an in depth view of the state of the Chicago office market that includes charts, graphs and tables highlighting market fundamentals, and significant sale and lease transactions for the overall office market, as well as a breakdown by submarket.

Download the complete office review
 


For further information regarding the content of these market reviews, please contact:

Amanda Ortiz | Senior Research Manager

630 693 0645

aortiz@hiffman.com


If you are interested in attending a custom market overview presentation, please contact:

John R Picchiotti | Chief Operating Officer, Brokerage

630 691 0608

jpicchiotti@hiffman.com

 

NAI Hiffman, One Oakbrook Terrace, Suite 400, Oakbrook Terrace, IL 60181
NAI Hiffman hired by Transwestern Investment Group to manage & lease 2 assets totaling 627,000 SF

NAI Hiffman hired by Transwestern Investment Group to manage & lease 2 assets totaling 627,000 SF

NAI Hiffman expands management portfolio with 9 UBS assets

NAI Hiffman expands management portfolio with 9 UBS assets