The results are in and Champion Realty's verdict on the I-55 industrial submarket in 1Q 2009 is: not so bad. More than 535k SF were leased this quarter, including this 53k SF, 60-dock door space, an IDI facility that was leased to Central Freight. Champion?s JD Salazar says that vacancy rates on I-55 increased to 18.69%, which is a little scary but not as horrifying as the 20+ percent he had predicted at the beginning of the year. Also, much of the vacancy created was through unleased spec projects over the course of the quarter. Not as many companies gave back space as expected, JD tells us. |
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Champion Realty
, JD Salazar
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