Welcome To Our Website!

Welcome to the website of Bruce Granger and Associates of Grubb & Ellis. Our focus is to provide profesional real estate services to our clients. We serve both the Chicago area and Midwest region. The objective of each of our three team members is to provide quality information so that informed real estate decisions can be made. We look forward to working with you!

A Message for September.

The Chicagoland industrial market has not been able to steer clear of the economic challenges impacting commercial real estate. As a result, the vacancy rate increased by 60 basis points this quarter to 9.4 percent. Company consolidations, facility closures and completion of speculative new products are all contributing factors to current consitions of the industrial market. Companies are streamlining their operations by consolidating locations into larger, more sufficient facilities.

As was predicted in the first quarter, net absorption dropped and with 1.2 million occupied this quarter the total year-to-date net absorption is now 6 million square feet. Future demand for smaller warehouse space less than 400,000 square feet is anticipated to increase due to higher fuek and transportaion costs. Industrial companies will most likely continue to streamline operations with multiple location consolidations into one strategic location close to the end-user.

For the second half of 2008, the Chicago industrial market is expected to remain active, but at a slower pace. With an election year ahead and ecomonic challenges on the rise, the Chicagoland industrial market is expected to further feel the impact of these current consitions throughout 2008.
Key Factors to continue to watch for the balance of 2008:

*Consumer Confidence

*Increased fuel / energy costs influencing manufacturing

*Fuel / energy costs possibly pushing distribution to be more regionalized.

*Increasing construction costs on speculative industrial development

*Growing interest in "environmentally friendly" buildings (i.e. LEED's qualified / certified)