Supply chain disruptions and soaring commodities prices amid unprecedented demand for industrial real estate have massive implications for the construction industry. Asset values and rents are soaring, but so are costs. How should owners, tenants, and developers adjust to this new normal?
To understand the current state of the construction industry, Bradford Allen’s Ronan Remandabran, Executive Managing Director and Industrial Market Leader, sat down with Patrick Clay, a “recovering architect” and Director of Business Development at ARCO/Murray, a leading design-build firm. From secular shifts in product delivery models to adaptive re-use trends and the outlook for rising interest rates, the conversation is as informative as it is wide-ranging.
Bradford Allen is pleased to share with you our Year-End 2021 Suburban Chicago Office Market Report.
This quarter in the suburban office market:
- The overall sublet availability rate increased from 3.9% to 4.5%.
- Overall direct vacancy and availability rates were 27.4% and 32.7%.
- The market posted a $24.58 p.s.f. gross asking rate.
- There was 1.1 million s.f. of negative absorption.
Bradford Allen is pleased to share with you our Year-End 2021 Downtown Chicago Office Market Report.
This quarter in the downtown office market:
- The overall sublet availability rate remained relatively stable at 3.9%, quarter over quarter.
- Quarter over quarter, overall direct availability and vacancy remained flat at 19.8% and 15.2%, respectively.
- Overall, the market posted a $40.38 p.s.f. gross asking rate.
- The quarter posted 370,000 s.f. of positive absorption.