| First Industrial chief investment officer Johannson Yap tells us that that he's a fan of Lake County for future development, especially around O'Hare. There, he expects rents to firm up since there's been little new development. Elsewhere, the firm is completing construction of a $44M, 692k SF, Class-A warehouse/ distribution center in the Inland Empire and also recently acquired a 664k SF property in Houston. He notes that CBRE Econometrics' year-end US forecast calls for only 23M SF of new space built, 123M SF of aborption, and 86.5% occupancy. In the 06 peak, 202M SFof new space was completed and occupancy was 90.2%. See all three of
these gurus in one place: Next month's Bisnow Chicago Industrial Summit. Sign up now! |
YAP SWEET ON LAKE COUNTY
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