Category Archives: Industrial

What does e-commerce want? Power, labor, world domination?

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e-commerce

Welcome to Episode 5 of JLL Chicago Industrial – Real Time, our Industrial Research podcast. In this episode:

  • What retailers want out of their e-commerce distribution network
  • The landlord perspective: The prevalence of build-to-suits to accommodate these facilities’ highly specialized technology and workforce amenity requirements
  • A deep dive into surrounding demographics to enhance retailers’ site selection process

Hosted by: Industrial market research experts George Cutro and Chad Buch

Featuring:

Listen to this 14-minute podcast with the player above or CLICK HERE.

Know someone who’d like to listen? Post to LinkedIn.… Read More

Industrial Podcast: Chicago’s changing industrial real estate landscape

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industrial podcast

Welcome to Episode 4 of JLL Chicago Industrial – Real Time, our Industrial Research podcast hosted by George Cutro and Chad Buch. In this “live” episode, the team is on the scene at JLL Chicago Industrial‘s client event, “The Changing Landscape of Chicago Industrial Real Estate.” They sat down with JLL’s Trevor Ragsdale, Kris Bjorson, John Picchiotti, Ben Bischmann and Debra Bonebrake for candid conversations on top trends, market outlooks and the latest JLL Industrial news.


Listen to the podcast with the player above or CLICK HERE.

industrial podcast

Our expert industrial panel: Keith Stauber, Matt Powers, George Cutro, John Picchiotti, John Huguenard and Trevor Ragsdale

The theme of this “Pardon the Interruption”-style panel, inspired by the famous show, was the future. On the heels of 23 consecutive quarters of positive net absorption, the Chicago industrial market is thriving and evolving. Some top takeaways:… Read More

Industrial Podcast: When did construction season become year-round?

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industrial podcast

Welcome to Episode 3 of JLL Chicago Industrial – Real Time, our Industrial Research podcast hosted by George Cutro and Chad Buch. In this episode, the team interviews Rick Steger, JLL Managing Director and national Industrial Project Management lead, about his construction outlook. Spoiler alert, the pipeline is strong and manufacturing is making a comeback. Listen to the end to hear our hosts’ hard-hitting “speed round” and a preview of this week’s client event.

Listen to the podcast with the player above or CLICK HERE.… Read More

Industrial Research podcast: Q1 2017 stats preview

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industrial research podcast

Welcome to Episode 2 of JLL Chicago Industrial – Real Time, our Industrial Research podcast hosted by George Cutro and Chad Buch. In this episode, the team previews the Chicago market’s first quarter industrial statistics, breaking down everything from vacancy and absorption to construction costs and investment sales. Keep your eyes peeled for a detailed submarket report in the coming weeks!

Listen to the podcast with the player above or CLICK HERE.… Read More

JLL Chicago launches Industrial Research podcast

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industrial research podcast

Welcome to JLL Chicago Industrial – Real Time, our new Industrial Research podcast hosted by George Cutro and Chad Buch. In our first episode, the team discusses cold storage, the Chiquita Banana deal and dark horse submarkets for 2017. Enjoy and stay tuned for regular market trends, hot topics, deal coverage and more!

Listen to the podcast with the player above or CLICK HERE.… Read More

Chicago 2025: Dynamic Expansion

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Chicago 2025

JLL’s Bruce Miller; GLP’s Paul Loosmann; Magellan’s David Carlins; JLL’s Dan Ryan, Ryan Severino and Meredith O’Connor; Oxford Capital Group’s John Rutledge; and The John Buck Company’s Dirk Degenaars at Chicago 2025: Dynamic Expansion.

Hundreds of industry leaders joined JLL Chicago last week to discuss Chicago 2025 and the city’s dynamic expansion. With 4,300 new hotel rooms planned, the lowest office vacancy in 16 years (10 percent), 4 million square feet of speculative industrial construction in the pipeline and 3 million square feet of office space headed to market, the next decade is going to be one for the books.

JLL Chief Economist Ryan Severino kicked things off with a broad-based market outlook, factoring in challenges of the past year from Brexit to an unexpected election result. Despite entering a 2017 filled with elevated policy uncertainty, the Chicago market’s universal truths are bolstering its investment appeal. Chicago’s still the third-largest metro economy in the U.S., with above average annual gross metro product growth and a diverse economy where no single industry comprises more than 20 percent of total employment. Going forward, our unusually high percentage of adults with undergraduate or graduate degrees will be of paramount importance in building on this economic momentum.

gallery_chicago2025_jll

JLL’s Chicago 2025 gallery wall, featuring the market’s hottest projects.

We’re definitely living in interesting times, agreed JLL International Director and panel moderator Bruce Miller. … Read More

Chicago 2025 market insights from JLL experts

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This week JLL Chicago will convene commercial real estate investors, clients and leading experts from throughout the city for Chicago 2025, our annual forecast. We sat down with JLL pros across asset classes ahead of the event for a preview of their sector-specific outlooks.

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Building from the Ground Up: Industrial Spec Spotlight

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BuildingFromTheGroundUp

Last year set some modern-day records for the Chicago industrial market, including a new high water mark for net absorption at 19.1 million square feet. With vacancy under 7 percent for the first time since 2001, JLL brought together its top industrial clients to discuss what’s next. The word of the day is spec, said JLL’s George Cutro, Director of Midwest Industrial Research. It’s 70 percent of the market’s development pipeline and returning to levels last seen in 2007.… Read More

JLL Chicago Football Greats Share NFL Draft Predictions

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The 2016 NFL Draft’s first round kicks off tonight, and we have the perfect view of Draft Town from JLL’s headquarters at Aon Center. In anticipation, we checked in with our former football stars for their Chicago Bears’ predictions:

NFL Draft

Name: Kurt Kittner
Title: Managing Director, Downtown Tenant Representation
Played for: Chicago Bears, Atlanta Falcons, University of Illinois
Position: Quarterback
Best known for: Winning the Big Ten Championship. Career leader at Illinois with 70 touchdown passes and 24 wins.
Hopes the Bears draft: Zeke Elliott, Running Back at Ohio State.… Read More

Chicago 2025: Expanding density to fund underinvested Chicago

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Last month Mayor Emanuel proposed a groundbreaking new plan to spur development in both burgeoning neighborhoods and underfunded areas of the city. The implications are significant for Chicago’s key real estate players, as well as the future of our urban core.

Emerging High-Density Submarkets

The proposed expansion of the high-density zoning overlaps with our prediction of Chicago developments expanding beyond the traditional core.

What’s the plan?Read More

Consolidated Distribution Corp. breaks ground at Ridgeport Logistics Center

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JLL recently joined Ridge Development, the industrial development arm of Transwestern Development, and Elion Partners for the groundbreaking on two buildings in Ridgeport Logistics Center for the new headquarters of Consolidated Distribution Corp. (CDC).

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North Cook County highlights industrial development ramp-up

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Industrial developers have been busy since the snow melted, with 8.3 million square feet of new product under construction. Look no further than North Cook County, said JLL Senior Vice President Steve Trapp, who spoke to a packed house recently at Bisnow‘s 5th Annual Industrial Summit in Rosemont.

MarkGoodSteveTrapp

Venture One Real Estate’s Mark Goode and JLL’s Steve Trapp

Take Cabot Properties and Seefried Industrial Properties’ 217,064 square-foot 5600-5750 W. Jarvis Avenue in Niles, the fourth redevelopment in the area in the past 12 months, which is already 60 percent pre-leased.… Read More

PHOTO TOUR: UI LABS grand opening

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JLL joined Chicago’s technology, business and civic leaders last week at the grand opening of UI LABS, a first-of-its-kind research and development facility in Chicago advancing high-tech commercial innovation.

The collaborative, which brings together universities, industry and government organizations, is focused on innovation that drives economic impact, like its first venture, the Digital Manufacturing and Design Innovation Institute (DMDII). View our photo gallery below for a taste… Read More

Airline caterers cooking up new facilities near O’Hare

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O’Hare International hosted 70 million passengers last year, making the world’s busiest airport a golden opportunity for the $4.7 billion airline catering industry. Four growing airline caterers, whose new facilities total 370,000 square feet, are enjoying the benefits of O’Hare’s orbit:… Read More

NAIOP panel reveals e-commerce, industrial trends impacting Chicago

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With e-commerce booming, industrial is adapting to new distribution challenges daily. The Chicago market, centrally located and gaining favor among global capital, finds itself at the convergence of those changes.

Kris_Bjorson

JLL’s Kris Bjorson

JLL’s Kris Bjorson, International Director and Head of Retail/E-Commerce Distribution, spoke to a packed auditorium at NAIOP’s All Star Industrial Panel in Rosemont last Thursday.

The panel, which also included LaSalle Investment Management Managing Director Paul White and Panattoni Development Partner John Pagliari, broke down four key market trends affecting global industrial in the Windy City.

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LIVE BLOG: JLL CEO Colin Dyer at Executives’ Club of Chicago Global Leaders Luncheon

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GLL1014_CapitalFlows (5)

JLL CEO Colin Dyer (second from left) is one of three panelists at today’s Global Leaders Luncheon hosted by the Executives’ Club of Chicago. The topic is “Capital Flows and Global Footprint” and the other panelists are David Sayer (second from right), Global Head of Banking for KPMG, and Hung Tran (far right), Executive Managing Director of the Institute of International Finance. The panel is… Read More

Industrial investors ‘stretching’ for Chicago product

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gateway

Spurred by the prospect of  continued and sustained rent growth, investors are snapping up industrial properties here in Chicago at a record pace .

In the latest such example — a deal brokered by JLL’s John Huguenard and Trevor Ragsdale — Dallas-based Hillwood Development Co. paid nearly $91 million for a 1.4 million-square-foot portfolio of six properties in… Read More

Chicago’s corporate facilities have global reach

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GlobalReach

  • The Chicago metro area is home to more than 1,500 foreign companies, 55 of which are manufacturing firms.
  • Chicago’s skilled workforce and world-class transportation infrastructure — as well as the state’s efforts to reform its pension system — have made the market more attractive to business leaders around the country and around the globe.
  • Site Selection magazine has noted this with its recent inclusion of Chicago and Illinois
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Industrial vacancy inching toward a cyclical low

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metalbuilding

JLL Research just released its quarterly highlights of the U.S. industrial sector – here are some key observations:

  • Industrial markets nationwide have been quietly recovering for quite some time, demonstrated by 15 consecutive quarters of positive net absorption.
  • Now, nearly all U.S. markets are appreciating, and the national vacancy rate is moving closer to its cyclical low of 7.5 percent.
  • Based on
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