Chicago Warehouse Vacancy Rates over 2% Lower Than National Average

/

Empty warehouses are becoming even more rare.

Real-estate brokerage CBRE Inc. reports that the availability rate for industrial property – which means warehouses and distribution centers – fell to 9.4% nationwide in the fourth quarter of 2015.  This news follows a 23 consecutive quarters trend of falling availability.  This almost 6 year run is the longest stretch of falling vacancies since CBRE started tracking it in 1989. 

The limited availability is a result of growth in demand as the economy recovers, along with a halt in new facilities being built.  

Locally, Chicago warehouse vacancy rates stayed fairly steady at 7.3%, over two percent lower than the national average. While 7.3% is a very slight increase on the quarter below (.03%) it is still drastically lower than the post-crash peak of 12.2% in early 2010, with no reason to believe it will begin to climb significantly.  

As expected with a shortage of space, rents continue to rise causing 3PL rates to also rise, making it tricky to build inventory.  If you are looking for available Chicago warehousing space, please contact Nexus today.  

Nexus Hires New General Manager

/

Dear Nexus Customers:

more

Nexus is pleased to announce that Marty Hart has accepted the position of General Manager at Nexus, effective October 11, 2016. 

Marty comes to Nexus with a robust logistics background and has earned several certificates in leadership, LEAN processes and procedures, as well as a degree in Business Management and Supervision. Most recently Marty held the title of Distribution Center Operations Manager with Boise, Inc.  In the 28 years he served Boise, he was responsible for overseeing warehouse operations and for collaborating with staff, vendors and customers to meet and exceed goals.  Perhaps most impressively, Marty improved service, exceeding 96% on-time delivery through his daily relationship management with carriers. Marty brings experience and a proven track record of success to the role of General Manager, which will be invaluable in meeting and improving Nexus’ operational goals and objectives.

Marty will be responsible for overseeing all Nexus facilities, as well as developing and pursuing strategic initiatives to support all transportation and warehousing operations.  Marty will provide dedicated management of safety, customer relations and leading teams in projects geared toward the goal of continuous improvement.

We are confident that Marty will be an excellent match for this position and a strong asset to Team Nexus. Marty will spend significant amounts of time at all three Nexus locations, however his office will be located at 6220 W. 73rd St, Bedford Park, IL (BP 16).

Marty is looking forward to using his unique skillset to enhance Nexus’s quality of service and establish long term partnerships with customers, vendors, and staff,  building upon the foundation of service excellence that has been a trademark at Nexus for 36 years.

Please join Nexus in welcoming him to the organization.

Read More