CHICAGO—The latest uptick in leasing activity in the region's industrial market will almost certainly encourage developers to break ground on several more large industrial spaces in 2016. But developers may approach these tasks somewhat differently than was done in the recent past.
Clarius Partners, LLC, for example, finished a 1,001,184 square foot industrial building at 3851 Youngs Rd. in Joliet in 2013, but when a rush of potential users started knocking on the door last year, company officials were a bit surprised that a majority were only looking for between 650,000 and 750,000 square feet.
“We're still scratching our heads about it,” Kevin Matzke, managing principal of Clarius Partners, tells GlobeSt.com. The company just signed a user to more than 750,000 square feet, and that firm, which Crain's identified as Whirlpool, could still expand into the space remaining.
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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.
