Will County Industrial Property Market Update: Q4 Leasing 2019: Vacancy Rate
According to the latest numbers, our industrial property market update for Will County in Q4 shows a few strong trends to be aware of.
Industrial Property Lease Trends
- Vacancy rate: industrial property vacancy rates remain about the same, with just a slight tick downward from the first quarter this year.
- Commercial property availability: the amount of properties on the market crept down a bit relative to vacancy rates for the past 10 years or so, which explains why the vacancy rate also came down.
- Industrial property lease rates: rents continue to climb. This is good news for property owners while making it challenging for tenants to find a long-term lease deal.
- Months to lease: because of all of these factors, properties are not staying empty for long and are only on the market for two months or so.
If you need the help of an expert to interpret the trends being shown in the latest Will County industrial property market update and how they affect you, contact Chris Condon of John Greene Commercial today.