O'Hare Industrial Market Hitting Historic Low

CHICAGO—Colliers International just completed a series of major industrial leases in the O’Hare submarket for landlord Hamilton Partners, and company officials say tenant demand is helping push down vacancy rates to a historic low. Ronald J. Behm, a principal with Colliers’ industrial advisory group, represented tenants Power Solutions International and EA Logistics in three different lease transactions with Hamilton totaling about 350,000-square-feet. Tom Maher handled negotiations on behalf of Hamilton.

“There is a tremendous amount of demand in the O’Hare area right now, particularly on the DuPage County side of the market where there are so few available buildings above 200,000-square-feet,” says Behm. “As vacancy rates have now fallen below 8.0% for the first time since 2001, it is clear that many tenants including PSI and EA Logistics have recognized the value of remaining in the area.”