fbpx
July 2012

Strong West ‘Burbs Face Headwinds

As seen in Real Estate BISNOW

NAI Hiffman CEO Dave Petersen says that the East/West corridor office market is trending in the right direction but could find a roadblock in the overall US economy and global events. Hear more from Dave at Bisnow’s State of Chicago’s West Suburbs this Tuesday at the Westin Lombard Yorktown Center. Register here.

Dave tells us that deals are happening in the west ‘burbs and absorption is strong, especially when compared to other submarkets. If this transaction velocity holds up, he says the vacancy rate could decline in the next 24 months to the mid-to-upper teens from its current 24%. For instance, a deal floating around for months was recently inked when EN Engineering took 83k SF at Cantera Meadows in Warenville’s Cantera Business Park. Still, the submarket faces hurdles: slow job creation, CRE debt coming due from the last boom, and fiscal turmoil in the Eurozone.

Recent Blog Posts

Advisory Services
Brokerage
News
Property Management
Hiffman Names Paul Grusecki Managing Director – Head of Advisory Services
February 2025

Hiffman Names Paul Grusecki Managing Director – Head of Advisory Services

Brokerage
News
Research
Changes to Suburban Office Coming?
February 2025

Changes to Suburban Office Coming?

Brokerage
News
Research
Despite challenges, Chicago’s industrial market continues to grow
January 2025

Despite challenges, Chicago’s industrial market continues to grow