T
rammell Crow Company has broken ground on a massive speculative warehouse project in the Chicago suburbs. The 788,000-square-foot facility is being built at the Plainfield Business Center, located about 40 miles southwest of downtown Chicago. Completion is expected next fall. CBRE's Matt Mulvihill and Phil DeBoer are leading marketing and leasing efforts for the property.

    The Chicago industrial market is experiencing a surge in construction, with over 65 million square feet under development in the third quarter. However, speculative warehouse deliveries have slowed, with only 27 million square feet delivered in the same period. Despite this, net absorption remained positive, albeit lower than previous quarters, indicating tenants are being more selective amid economic uncertainty.

    Chicago's core industrial submarkets have managed to maintain stable vacancy rates of 4.88 percent, despite regional challenges. The Far Southwest suburbs remain highly attractive due to their access to major transit routes and e-commerce demand. Trammell Crow's project is strategically positioned near interstates 55 and 80 on a 50-acre site within the Plainfield Business Center, which will eventually span over 8 million square feet when fully built out.