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Chicago’s a Key Market for Last-Mile Expansion
The shorter delivery times demanded by e-commerce shoppers, including same-day and next-hour services are making Chicago a key market for last-mile expansion due to a confluence of factors, says Cushman & Wakefield. These include low costs relative to coastal markets, availability of skilled labor, an extensive transportation network and centralized location, with more than 48 million potential consumers within a six-hour drive of downtown.
“Industrial vacancy in the Chicago area has fallen to its lowest level in nearly two decades, and much of that activity can be attributed to e-commerce and the ripple effect it is having on other industries,” said Larry Goldwasser, executive director, Cushman & Wakefield.
The construction of last-mile facilities in Chicago has exploded over the past few years, with more than 3.5 million square feet either under development or already delivered between 2015 and 2019, compared to approximately 530,000 square feet delivered between 2000 and 2015.
Pictured: Marina Crossings, a recently completed last-mile facility in Chicago.
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