According to new Jones Lang LaSalle Research findings cited in this story by Crain’s Chicago Business, the vacancy rate in the suburbs fell to 24.4 percent in Q1 2013 thanks to more than 135,000 square feet of positive net absorption.
While that number might just be “a blip” on the radar, according to JLL suburban tenant representative Gregg Raus, the more telling number might be eight, as in the number of tenants currently scouting the market for requirements of 100,000 square feet and larger.
Tenants are also rethinking the way they use space, Raus says, with more and more companies now considering open-plan designs for the first time:
“Companies are moving to a more collaborative environment, and I think you’re going to see that dictating moves rather than renewals. It’s too expensive and too disruptive to stay in place and do a remodel.”
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