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Midwest Speculative Construction Report

David Hoebbel • 12/15/2022
Speculative construction is by its very definition, a risk. Many developers wonder: if we build it, will tenants come?


Speculative construction is by its very definition, a risk. Many developers wonder: if we build it, will tenants come? In the last six years, major Midwest markets saw heightened demand for bulk warehouse space. In turn, 259 million square feet (msf) of speculative product was delivered, with nearly 86.8% occupancy as of Q3 2022. The Midwest Speculative Construction Report analyzes speculative construction in Chicago, Cincinnati, Columbus, Indianapolis, Kansas City, Louisville and St. Louis. Specifically, each market takes a deep dive into: 

  • Speculative bulk occupancy
  • Number of buildings completed
  • Square feet delivered 
  • Average building size
  • Number of developers involved
  • Number of current tenants 


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