Industrial Spaces Are Booming in Chicago
E-commerce is booming and so demand for industrial distribution space is booming as well. Chicago’s projected to add up to 220 million square feet of product by year-end 2025, according to CBRE. That would bring the region’s industrial market up to 1.5 billion square feet.
CBRE Research says that each $1.0 billion in additional e-commerce sales creates 1.25 million square feet of additional warehouse demand nationally. Amazon may be the biggest player now, but other companies are seeing the benefit of having Chicago as an important link to West Coast ports.
“Chicago will continue to be a critical logistics hub for the Midwest and surrounding regions,” said Chris Zubel, senior managing director for CBRE.”
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Mr. Willig engages and coordinates a professional team of real estate brokers, general contractors, leasing agents, and property managers in order to rehabilitate, lease and maintain the properties he acquires for SpringView Investments. He has over 20 years of finance and accounting experience.