Facebook may soon expand its Chicago presence by taking about 200,000 square feet at 151 N. Franklin, the latest class A development in Chicago's CBD.
CHICAGO—Vacancy has plummeted in Downtown Chicago as companies continue to expand their presence, according to a new report from Marcus & Millichap. Users in the CBD absorbed another 1.9 million square feet, far outpacing new completions in the past year, slashing vacancy 90 bps to 14.0% by March, roughly 200 bps below the metro average.
And tech firms should play a key role in sustaining a healthy level of downtown activity.
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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.
