The East-West corridor’s Class A availability rate fell by a full percentage point (pp) to 22.7 percent in the fourth quarter, according to Savills Studley’s Chicago Suburbs office sector Q4 2014 report. Kevin McLennan, senior managing director at Savills Studley, says that is pretty consistent for the corridor.
“The East-West corridor is never going to outshine the region, or any one of the submarkets, from a positive or negative perspective,” McLennan said. “Historically you’ll find that it remains steady. I think one of the reasons historically you’ll see that is because it’s a really big submarket.”
“It’s the biggest from a rentable area perspective,” McLennan added. “It’s the biggest submarket of all the suburbs. So it has the most square footage to lease, the most Class A, and Class B type buildings.”
Due to the corridor’s huge size, McLennon noted that typically the corridor will see a lot of activity, but there will be vacancies that offset the positive absorption... The East-West Corridor: Cautiously optimistic that 2015 will be a good year
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National Office Sector Report (Q4 2014)