April 2016

First Quarter 2016 Market Reviews

NAI Hiffman First Quarter Market Reviews

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Market Reviews

First Quarter 2016

Industrial Market Continues Steady Improvement

Chicago’s industrial market continued to experience improving market fundamentals during the first quarter:

Positive net absorption of 4.7 million SF
Vacancy rate improved to 7.20%
Construction completions totaled 5 million SF
12 million SF under construction

Please take a closer look at first quarter industrial market activity which includes charts, graphs and tables highlighting historic market fundamentals, significant sale and lease transactions for the overall industrial market as well as a breakdown by submarket.

Download the complete industrial review.

Office Vacancy Improves in CBD, Slight Rise in Suburbs

CBD office market posted modest improvement first quarter:

Positive net absorption of 52,042 SF
Improved vacancy rate at 11.07%
East Loop and North Michigan Ave submarkets contributed to positive quarterly performance

The suburban office market weakened slightly during the first quarter:

Negative net absorption of 342,143 SF
Majority of submarkets remained unchanged
Vacancy rate rose to 18.00%

Please take an in depth view of the state of Chicago’s office market that includes chart, graphs and tables highlighting historic market fundamentals, significant sale and lease transactions for the overall office market as well as a breakdown by submarket.

Download the complete office review

For further information regarding the content of these market reviews, please contact:

Kelly DeBouver | Senior Research Manager

630 693 0645

kdebouver@hiffman.com

If you are interested in attending a custom market overview presentation, please contact:

John R Picchiotti | Chief Operating Officer, Brokerage

630 691 0608

jpicchiotti@hiffman.com

Comprised of over 150 real estate professionals, NAI Hiffman (www.hiffman.com) provides leasing and investment sales representation for owners and occupiers of commercial real estate in the Chicago metro market. It currently leases and manages a 54+ million SF portfolio of over 600 commercial properties throughout metropolitan Chicago, Northwest Indiana, and Southeast Wisconsin. NAI Hiffman is the Chicago-area representative for NAI Global, the world’s largest managed network of real estate service providers, comprising 5,000 brokers in 400 offices serving over 55 countries throughout the world.