Dermody Breaks Ground on 358K-SF Suburban Chicago Industrial Project
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Chicago capital flow has been concentrated in industrial along the I-55 and I-80 corridors and in the most select downtown trophy office submarkets. Multifamily transaction volume has moved up in the Near North and West Loop. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
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On the RET wire
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Dermody broke ground on the LogistiCenter at Berkeley, a 357,619-square-foot facility located at 5300 St. Charles Road in Berkeley, Illinois. The redevelopment of an older, functionally obsolete industrial building is…
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