New spec deliveries push vacancy rate higher
The vacancy rate increased for the second quarter in a row in Chicago's industrial market, rising by 16 basis points during the third quarter of 2017 to 6.85 percent. Similarly, for the second consecutive quarter, net absorption was positive despite the increase in vacancy, totaling 3.5 million square feet. This is the smallest net absorption tally since the fourth quarter of 2015, and brings the year-to-date total to 13.5 million square feet.
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