What happened to office occupancy in the Northwest Market?
A two-minute video explaining 2016 year-end numbers
As reported in NAI Hiffman’s 2016 Year-End Office Market Review (available here), the Northwest Market experienced a significant amount of negative absorption to close out last year, which in turn affected the overall suburban office absorption. In this two-minute video edition of NAI Hiffman’s REfocus series, we delve into the story behind the numbers to explain the factors that contributed to this development and consider their implications for future leasing activity in the submarket.
We hope you find this information useful to your business. For additional information or if you’d like to have a more in-depth discussion about Chicago commercial real estate statistics, please don’t hesitate to reach out.
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