Industrial Market Outlook Q1 2023 Low Vacancy Rates Impact Deal Flow Despite a challenging economic climate, the Chicago industrial market continues to show resilience, with strong tenant demand and low vacancy rates characterizing the market. Landlords remain in the driver's seat as tenants search the market for space, particularly in the 100K SF and under category. Tenants...
Jan. 18, 2023 --Brown Commercial Group has promoted Mason Hezner and Jim Pietrarosso to vice president of sales. Both were formerly senior brokers, focusing on industrial and office real estate brokerage services. They have played integral roles in the firm’s industrial sales growth. Hezner joined Brown Commercial Group in 2012 and is a key contributor to...
Industrial Market Trends Q3 2022 Chicago's industrial market recorded a strong third quarter, with rental rates jumping an unprecedented 13 percent and the vacancy rate reaching a new low of 4.54% (and even lower in O'Hare and other submarkets). Among the key industrial market trends to watch are: Interest rates -- Industrial fundamentals remain strong, but rising interest...
December Recap: Chicago's West Suburban Market Kane and DuPage counties continue to see strong industrial activity and super low vacancy rates, creating a challenging environment for companies looking for space. Here's a recap of recent transactions by Maria McNeil, who specializes in the Kane County submarket. She represented industrial tenants and office investors in evaluating their...
December 2022 -- The I-55 suburban industrial market continues to draw growing businesses that are seeking access to Chicago's industrial market and transportation routes that provide connection to surrounding Midwest and National markets. Here's a look at a recent industrial transaction that shows the market dynamics and the importance of having a strategic real estate...
Posted on November 17, 2022 by Kristin Hiller in Illinois, Industrial, Leasing Activity, Midwest Industrial Leases Signed in Suburban Chicago HODGKINS, ILL. — Brown Commercial Group announced that two industrial leases were signed totaling 131,605 square feet at 7335 Santa Fe Drive in Hodgkins, a southwest suburb of Chicago. Pioneer Service Inc. leased 61,355 square feet and M&M Quality Grinding Inc. leased 70,250 square feet....
Nov. 15, 2022 -- Brown Commercial Group has completed lease negotiations that will bring two manufacturing businesses into one 131,605-square-foot building in Chicago’s I-55 Corridor. Partner Mike Antonelli represented Pioneer Service, Inc. and M&M Quality Grinding, Inc. in a comprehensive site selection, market analysis and lease negotiations that will allow both companies to move into 61,355 square...
OCTOBER 21, 2022-- Brown Commercial Group negotiated six industrial transactions in the Chicago market for businesses that were looking for new space to expand their operations. The transactions were all completed by Broker Collin Tyrrell and supported businesses in the landscaping, transportation, retail, and printing industries. The largest transaction was a 12,245-square-foot lease at 6635 W. Irving...
Chicago’s industrial market continues to see surging demand for space and strong construction deliveries, along with some supply chain and economic headwinds. View PDF
