Industrial vacancy nearing pre-recession levels

    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.

    Read more in Crain’s Chicago Business.

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