A Record Rent, a Demand Reversal and a New Model for the West Side: Chicago industrial at mid-year
Chicago's industrial market crossed a threshold in the second quarter that it had never touched before. Average asking net rents topped $8 per square foot for the first time in the market's history, according to Adam Haefner, Managing Director at JLL, who also tallied roughly 25 million square feet of first-half leasing activity, above-average velocity by any measure.