The vacancy rate for local industrial property is finally approaching pre-recession levels, fueled by a surge of first-quarter dealmaking.
Chicago-area industrial vacancy fell to 9 percent in the first three months of the year, down from 9.5 percent in the fourth quarter and 10.7 percent a year earlier, according to Seattle-based Colliers International.
The Chicago area industrial space vacancy rate hasn’t been that low since the beginning of 2008, the first few months of the recession.
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Read more in Crain’s Chicago Business.
