E-commerce continues to fuel a building boom throughout the U.S. industrial sector. Despite almost 1.6B SF added since 2012, demand for new logistics and distribution space seems almost inexhaustible, according to the latest U.S. Industrial Construction Snapshot by Avison Young’s national industrial capital markets group.
Even though the pace of new construction recently slowed in the Chicago region, strengthening demand from users and investors means local developers are ready to hit the accelerator, with speculative projects making up a significant portion of the new product.
“There are other regions which may have faster growth, but Chicago remains the bellwether of the industrial market,” said Erik Foster, Avison Young principal and Chicago-based leader of the firm’s national industrial capital markets group.
//bisnow.com
