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Industrial Market Holding Up in Slowdown

CHICAGO-Cushman & Wakefield reports north suburban Lake County is seeing an increase in deals involving users, boosting sales prices above replacement costs. The east O'Hare market also is holding up well.

By Mark Ruda | Updated on September 04, 2001

CHICAGO-Some are using “recession” to describe the current industrial market here. However, Cushman & Wakefield reports rental rates are holding steady while vacancy rates have crept up, though still well in the single digits.

Small- and mid-sized deals drove the market in the second quarter, the firm says. One example is a 32,880-sf deal for Consolidated Electrical Distributors Cushman & Wakefield brokers in July in the southwest suburban countryside.

Another exception to the otherwise stagnant market is north suburban Lake County, where Cushman & Wakefield finds an increased amount of deals involving users. “Sale prices in Lake County are exceeding replacement costs,” says Keith Puritz, a director in the firm’s industrial services group.

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