US Industrial has a Strong Finish for 2017
CHICAGO—Last year at this time experts predicted the US industrial market would have a great 2017, and the experts were not wrong. Even though absorption slowed in the second and third quarters, tenants made up for that by picking up the pace and absorbing about 80 million square feet in the last three months of the year, pushing the year’s total up to 245 million, according to a new report from Chicago-based JLL.
Perhaps more significant than the raw numbers was who took the space. JLL notes an escalation of mid-sized deals, both between 100,000 square feet and 250,000 square feet, and those between 250,000 and 500,000 square feet. The latter group went from comprising about 20% of the deals in 2016, to well over 30% in 2017.