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Chicago Could Add 220M SF of Industrial Space by 2025
With the expansion of e-commerce, demand for industrial distribution space will continue to increase, and 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.
“Chicago will continue to be a critical logistics hub for the Midwest and surrounding regions,” said Chris Zubel, senior managing director for CBRE. “As consumer patterns change and more goods are purchased online, we will see considerably more warehouse space added to our inventory to support the growth of e-commerce.”
According to CBRE Research, each $1.0 billion in additional e-commerce sales creates 1.25 million square feet of additional warehouse demand nationally. As warehouse demand rises across the country, Chicago is set to benefit as a key link in the supply chain between West Coast ports and many Central and East Coast destinations.
For comments, questions or concerns, please contact Paul Bubny
- ◦Economy
- ◦Development
