Aug. 18, 2023 --Brokers Pat Crowley and Candace Scurto worked with two expanding companies to secure industrial space expansion leases in the Chicago industrial market. Crowley represented the tenant, Isutami USA, LLC in nearly doubling its space with a 12,588-SF lease at 1525 Ardmore Ave. in Itasca, Illinois. The company is expanding its U.S. distribution...
July 2023 --2023 Mid-Year Report Tips for Navigating the Chicago Industrial Market The Chicago industrial market is complex -- with strong tenant demand and many investors trying to secure space in a competitive market. At Mid-Year 2023, here are tips from Brown Commercial Group on how to navigate the market. Stay up-to-date with the latest developments in...
June 14, 2023 -- Chicago's O'Hare submarket is a top industrial submarket that has consistently drawn strong investment and leasing activity. It remains a key location for industrial tenants focusing on logistics, manufacturing and e-commerce activity. As such, it is a prime location for investors looking for long-term rent growth and price appreciation. As noted...
March 29, 2023 -- Industrial building sales continued at a steady pace in the first quarter of 2023, with investors capitalizing on the strong demand in the Chicago suburban market. According to this Daily Herald story,Brown Commercial Group negotiated two industrial building sales totaling 48,171 square feet, helping investors and buyers navigate a market that...
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...
March 7, 2023 -- Despite a significant industrial space shortage, VP of Sales Jim Pietrarosso secured a a 75,072-square-foot Chicago industrial lease in the O’Hare submarket. As noted in Connect Media, the full-building lease will allow Masterpiece International to combine three locations into one, expand its space and improve efficiencies. He represented the New York...
Feb. 28, 2023 -- Brown Commercial Group Broker Collin Tyrrell negotiated two Lake County real estate transactions, including a 25,600-square-foot industrial building sale and an office lease. The transactions were part of three recent deals totaling 35,345 square feet. Tyrrell represented the seller, Falling Waters Development LLC, in the sale of 2910 Falling Waters Blvd. in Lindenhurst,...
