In a second-quarter 2020 Chicago Industrial Construction Review by Colliers International 52 projects totaling 27.2 million square feet are under construction at the same time setting a new record for the most space being developed at one time in the Chicago market's history. Additionally, 21 projects totaling 4.3 million square feet were also delivered in Q2.
New Construction Starts
15 projects totaling 12.8 million square feet of construction started in Q2 which is a record for quarterly construction starts. Five of the buildings under construction are built-to-suit projects, three of which are for Amazon.com, the e-commerce giant. Each of the Amazon buildings are multi-story facilities totaling about 3.8 million square feet, and are not only the largest buildings under construction but the largest modern industrial buildings the market has historically seen developed.
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