CHICAGO-At the seventh annual RealShare Chicago, panelists on the Forecasting Leasing, Investment and Development in the Industrial Market confirmed this sector is seeing troubled times that will likely only further deteriorate. The vacancy rate in the area is 11%; and the mantra of the hour is blend and extend.

Panelist Steven Schnur, SVP of Chicago operations for Duke Realty Corp., said his firm is less concerned about the lease rate than capital preservation. They have renewed leases set to mature in 2009 to 2015.

“Tenants don’t want to move. They don’t want to disrupt their operations,” said Jim Deter, executive managing director for CB Richard Ellis. As a result they are looking for ways to stay in their current location or condense operations into fewer facilities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.