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Chicago Ranks in Top 10 for Largest Industrial Leases

Although the food & beverage industry significantly expanded its share of the largest 100 U.S. industrial & logistics leases by square footage last year, Chicago’s entries in that roster bucked the trend. CBRE says the metro area’s top performers for leases of greater than 500,000 square feet were transportation and logistics, manufacturing and retail.

“E-commerce firms and traditional retailers remain active in the Chicago distribution market,” said Traci Buckingham Payette, EVP with CBRE. “As consumer habits continue to change, we are seeing more firms look for infill locations for their distribution network, even for larger warehouses.”

Totaling 4.2 million square feet, the five largest Chicago-area industrial leases put the Chicago region at No. 7 among the top 10 markets, behind California’s Inland Empire, Pennsylvania’s I-78/I-81 corridor, Memphis, Dallas-Fort Worth, Atlanta and Indianapolis.

Nationally, 50 of the 100 leases were for warehouses sized 800,000 square feet or more, according to CBRE.

Pictured: 1000 Bilter Rd. in Aurora, IL, which saw one of the Chicago area’s largest industrial leases in 2019.

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

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Connect With CBRE's Buckingham Payette

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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