CHICAGO—The US industrial market may have slowed down a bit from the truly historic levels of new construction and absorption seen over the past few years, but demand remains quite strong, especially in a group of markets important to product distribution. And with the continuing rise of e-commerce, more companies will need ultra-modern distribution buildings in these key metro areas.
That is the conclusion of Bob Smietana, chief executive officer of HSA Commercial Real Estate, who in a just-released video provides a look ahead to the US industrial market's prospects in 2018. The Chicago-based developer has been one of the most active in the Midwest region, and in 2017 it quickly found tenants for a collection of sparkling new distribution centers.
“The second-generation buildings aren't getting as much play from tenants nowadays,” he says. E-commerce, and the need to quickly ship out thousands of individual items to customers' homes each day, rather than bulk shipments to retail outlets, means the newest and most advanced structures are needed.
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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.
