CHICAGO—The expansion of e-commerce has helped fuel much of the recent growth in the industrial real estate market, especially within the distribution sector. However, even though those gains are real and significant, the sector has other sources of strength, and these should help sustain demand, and an on-going construction boom, for at least another 18 months.
The recent experiences of HSA Commercial Real Estate have been fairly typical. In the past few years, the Chicago-based developer completed or launched a number of speculative projects in the metro areas of Chicago, Indianapolis and Nashville. And in each case, tenants have eagerly snapped up the space.
“These projects have exceeded our expectations,” Bob Smietana, chief executive officer of HSA, tells GlobeSt.com. Its most recent completion in the Indianapolis area, a 151,220-square-foot speculative warehouse in suburban Plainfield, took just five months to fill. Tenants also fully occupied the adjacent building, a 220,000-square-foot spec completed in 2015.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 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.
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.
