Grubb & Ellis Sees Healthy 2006 in Chicago
Grubb & Ellis expect a healthy year in Chicago's commercial and industrial markets. Positive absorption is expected in the suburban office market, though the city will see office construction in an environment of negative absorption. The industrial market is expected to see absorption over 20 million square feet, compared to 15.8 million in 2005 with the fastest growth in the south suburbs.
«Like 2005,» he said, «this year's going to be a Goldilocks year, not too hot, not too cold. There will be a cooling in the housing market and perhaps a slowdown in economic growth toward the second half of the year, but not enough to upset what will be a good year for real estate. Interest rates will remain surprisingly low, and payroll jobs will be created. In most places, absorption will be up and rents firm.»
Chicago Primed for a Healthy 2006, Grubb & Ellis Contends
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