First Industrial Leases 226,074 SF Building in New Castle, Delaware
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.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 73rd Chicago story tracked on the wire in October 2026. All Chicago coverage →
- 7 stories mentioning First Industrial on the wire in the past 90 days. First Industrial coverage →
Computed from Real Estate Trail’s own tracked coverage
NEW CASTLE, DEL. — Chicago-based REIT First Industrial Realty Trust (NYSE: FR) has leased the entirety of a 226,074-square-foot building in New Castle. The tenant was not disclosed. The building is the first to be dev…
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