Year-end market reports from Colliers International, Cushman & Wakefield, Newmark Grubb Knight Frank, CBRE, JLL and others soon will be released, highlighting yet another year of robust activity. There is strength in the numbers that statistically measure the marketplace in terms of vacancy rate, absorption, leasing, building sales and new construction.
The vacancy level continued to decline throughout the year, falling below 7 percent—and still going.
Absorption of space has been on a torrid pace as companies of all sizes, and in diverse locations expand their businesses and add spaces. The acquisition of buildings continues, whether it is a user looking to control its operations or an investor further establishing a portfolio of Chicago properties.
Life is good in industrial real estate.
The question is, how good can it continue to get? Will Amazon continue to drive the marketplace, both with big box locations and destinations closer in to urban population centers? Will the beginning of movement in interest rates stymie activity — of buyers and developers, of bankers willing to open their coffers? What effect will a changing of the guard in Washington, and politics as usual in Springfield, have on the marketplace?
These are all great questions — requiring the perspectives of brokers, developers, builders and construction firms. Real Estate Publishing Group (Chicago Industrial Properties), the producers of the 15th Annual Commercial Real Estate Conference, has assembled panels of speakers from the industrial arena who will delve more deeply into those questions on Wednesday, Jan. 18.
Jim McShane of the McShane Companies will lend his years of experience to teach the lessons he’s learned, and how we can all learn from them, in the Icons in Real Estate panel that kicks off the event at approximately 8:15 a.m. John Morris of Cushman & Wakefield participates in a state of the market discussion that follows immediately. At approximately 10:45 a.m., an industrial breakout session will feature Jason West, SIOR (the 2017 Chapter president), of Cushman & Wakefield, and Adam Marshall, CCIM and SIOR, and 2017 President of AIRE (with Newmark Grubb Knight Frank). Others on the panel include Matt Goode, Venture One; Fred Johanns, LEED AP, FCL Builders; Brian Quigley, Conor Commercial; and Lori Tubbs, Commercial Advantage (Northwest Indiana Forum).
The annual forecast event takes place at the Hyatt Regency Chicago. Registration is $99 and can be completed at www.rejournals.com/conferences, or by calling Debbie DeWolf at 312-644-7800.