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Industrial Sales Hold Steady in Chicago
Industrial investment sales continued at a steady pace in the Chicago region during the first quarter, despite market shifts late in the quarter due to the impact of the coronavirus, Avison Young reported. Q1 saw nearly $2 billion in industrial sales in Chicago, on par with the previous two quarters.
“At this time, investors are taking a close look at their portfolios and reevaluating short-and long-term strategies to maximize market positions and minimize exposure,” said Avison Young principal Erik Foster.
Over the past four quarters, 563 industrial properties have changed hands in Chicago, with a total sales volume of $6.8 billion. Among the top buyers in the market over the past 24 months were Prologis ($2.3 billion) and Blackstone ($1.9 billion).
REITs comprised the bulk of the buyers in Chicago in Q1, with 49.8% of transaction volume, followed by private buyers at 26.9% and institutions at 22.6%.
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- ◦Sale/Acquisition
