SIOR Chicago Chapter Welcomes Panel of Industrial Development Experts to Speaker Series Luncheon
At back: Bill Lussow, SIOR.
From left to right: Robin Stolberg, Caitlin Sullivan, Michael Clewlow and Joe Macchione
On June 19, 2024 the Chicago Chapter of The Society of Industrial and Office Realtors (SIOR) hosted its Speaker Series Luncheon at The Glen Club in Glenview, IL. Bill Lussow, SIOR, Treasurer of SIOR Chicago Chapter and principal of Bespoke Commercial Real Estate, moderated a discussion about current trends and future predictions for the Chicago Industrial landscape as well as the market’s adaptability and the importance of strategic approaches to navigating economic challenges.
The panel included Robin Stolberg, managing director of acquisitions at Clear Height Properties; Caitlin Sullivan, senior vice president and market officer at Link Logistics; Michael Clewlow, vice president of acquisitions at Venture One Real Estate; and Joe Macchione, vice president at Brennan Investment Group.
Key takeaways include:
- Despite challenging economic conditions, the fundamentals of the Chicago industrial market remain robust.
- Transaction volume is a crucial metric for the region, with panelists noting an increase in smaller transactions despite a year-over-year decline in overall volume.
- Older and smaller properties are performing better compared to new constructions, which currently have a higher vacancy rate.
- Volatility in capital markets has posed challenges, but also opportunities for investors adopting contrarian strategies.
- Flexible, short-term leasebacks are a successful strategy for acquisitions, catering to businesses undergoing generational changes.
- Retaining occupancy is becoming a priority over driving rental rates for larger institutions.
- Chicago’s substantial industrial inventory is supported by various factors, including demographic shifts and the rise of omni-channel retail.
- Technology and ESG initiatives are influencing industrial real estate operations, driven largely by tenant demands.
More than 65 SIOR members and guests attended the luncheon.
About SIOR Chicago Chapter
The Chicago Chapter of the Society of Industrial and Office REALTORS ® (SIOR) boasts 165 elite commercial and industrial practitioners in the Chicago metropolitan area real estate market. Real estate professionals who have earned the SIOR designation are recognized by corporate real estate executives, commercial real estate brokers and agents, lenders, and other real estate professionals as the most experienced, capable and ethical practitioners in any market. The global SIOR organization holds more than 2,800 members in 480 cities in 20 countries. A professional affiliate of the National Association of REALTORS®, SIOR maintains a commitment to business and industry by providing outstanding professional services, publications, and educational programs. For more information, visit our website or follow us on LinkedIn or Instagram.
