MB Real Estate has released our 3rd Quarter 2010 Chicago Market Overview, a quarterly report that tracks trends, analyzes data, and provides you with our forecast for the Chicago CBD and Suburban Markets.
Vacancy increased again, albeit at its continued slow pace. While there are bright spots in the sublease market and in the city’s ability to attract new tenants, the severe and ongoing job losses have not yet fully materialized in tenants’ demand for space. Occupancy will need to decline further to align with employment.
In addition to the Chicago Market Overview, please reference our in-depth 3rd Quarter 2010 Submarket Snapshots, which include highlights and analysis of each of the Chicago submarkets that MB Real Estate tracks.
1 comment:
Reisreports.com offers similar, yet slightly different data and information to what this report has provided for Commercial office space chicago. The Chicago area office market is among the nation's largest. In addition, but for a relative hiatus in completions in 2003, development has been exceedingly active for more than a decade-with the two years 2008 and 2009 providing the market with its largest additions of new supply since 2002. With recession hitting and net absorption falling negative, however, the timing was not fortuitous: vacancy has risen sharply and rent growth-with effective rents bearing the heavier burden-has fallen negative.
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