Warehouse vacancy drops to 12-year low

    Local warehouse owners continued traveling back in time during the third quarter, watching their proportion of unused space plunge to a 12-year low.

    Propelled by a few huge leases, the Chicago area’s industrial vacancy rate fell to 8 percent during the period, the lowest since first-quarter 2002, according to Seattle-based Colliers International. Vacancy fell from 8.4 percent in the second quarter, which had been the lowest mark since pre-recession 2006.

    Read more in Crain’s Chicago Business.

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