Office tenants still have the upper hand in the suburbs

0 CommentsBy

Landlords in Chicago’s suburbs struggled to fill space once again last quarter, as tenants in the market continued to enjoy historically low rental rates and a wide variety of options.

According to JLL Research, overall vacancy in the ‘burbs  remained flat at 24.4 percent in Q2, the same percentage as  in Q1 and a year earlier.

As JLL’s Eric Kunkel told Crain’s Chicago Business in this recent story, leasing activity continue to lag behind the gradually but steadily improving downtown market:

“Right now it’s just trading places … there’s not a lot of true absorption. My feeling is that we’re going to stay flat or maybe even trend down a little bit (for landlords) until we get some job growth in the market.”

Click here to read the full story and click here to read JLL’s most recent Suburban Office Market research report.

Leave a Reply

Your email address will not be published. Required fields are marked *