CHICAGO—It's well-known that the industrial real estate, especially in the Chicago metro area, has shown tremendous strength. And the current boom, fueled by both the overall economy and the remarkable expansion of e-commerce, looks like it's going to last longer than past expansions. And that rosy outlook is helping pull more commercial real estate professionals into the industrial sector.
Next Realty, Inc. a Skokie, IL-based investment firm, has decided to expand its reach and focus by hiring industrial specialist R. Tyler Hardy as director of acquisitions. Internet competition has already caused the company to adjust how it runs its many retail properties. Next now has a special focus on bringing in tenants that provide services, such as nail salons or healthcare users, that immunize their centers from competition with e-commerce. But with Hardy on board, the company can take a direct role in a sector with so much promise.
“It's adding a running game to a good passing game,” Andy Hochberg, chief executive officer of Next, tells GlobeSt.com. It's also a way to keep up with the many changes still going on. “Customers are already shopping differently, but I believe there are permutations yet to come.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
