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Healthy Economy Means Warehouse Space in Chicago is Harder to Find

A sure sign that the economy is healthy and thriving is the amount of available commercial or industrial real estate on the market. Amenity-rich, easily accessible and affordable Warehouse space in Chicago is getting tougher to find in this market. Several pieces of recent data have shown us that the amount of available space and that the time it takes to sell that space are both down. Also, that the industrial real estate market is enjoying a five-year win streak. These factors are making it difficult for companies searching for suitable warehouse space in the Chicago area.

Online retailers and shipping firms have increased the need for conveniently located warehouse space. Now that our economy is stabilizing Americans are buying more furniture, large appliances and other goods than they have in a decade. More companies are finding that they need a warehouse or industrial space to serve their customers successfully. And they need this space to be accessible to major expressways, railways, and airports. This means there are more tenants searching for available space in all of the same areas. But the right space is not easy to find. According to a recent article in Crain’s Chicago Business, “after dropping for seven quarters in a row, the vacancy rate is now at its lowest level since third-quarter 2001”.

Another statistic that shows how tough it is for warehouse tenants currently is that the industrial real estate market is on a five-year winning streak. A study published this week states “nearly 4.3 million square feet of industrial space was absorbed during the first quarter of 2015 in the Chicago market”. (Source) And 83% of that square footage sold was warehouse and distribution space. While this is good news for real estate professionals and building owners, it’s bad news for companies looking for a new lease.

Owners of warehouse space are finding that it’s taking fewer days to move their property. A recent CoStar report stated that properties in the first month of 2015 “sat on the market for an average of 390 days…down from an average of 417 days in January of 2013.” It’s more important than ever to make sure that you do your research and homework before starting out down the road of searching for warehouse space. With fewer suitable options, you must ensure that you can find a location that will make things easier on your business operations. With such a strong market, you may also see higher prices for spaces that do come available or fewer amenities and perks for tenants.

A Solution to your Warehouse Space Problem on the North Side

The Bradley Business Center is your answer to the problem of finding spectacular warehouse space in this busy market. Located on the North Side of Chicago, our spaces offer proximity to O’Hare airport and the Kennedy Expressway. Our agent will work with you to discuss lease options that will best suit your budget and growth potential. We offer amenities such as a fitness center, technology solutions to help with operations and ample parking for you and your customers. Please contact us to learn more and to find out how you can get situated in your new location at the Bradley Business Center while our amazing warehouse space is still available. We look forward to helping you in this busy market!

Creating a Productive Office Space – Using Innovation to Encourage Success

Creating a productive office space that highlights innovation is essential to increasing the happiness of your employees and reducing your bottom line. Designing an office in today’s market that increases productivity takes much more than just picking out ergonomic furniture. A successful business must also consider that they are creating a workplace, not just an office, for their valuable employees. No decision on an office space should be made without first considering your staff’s needs. This human approach to planning will help you recruit and retain talent, and can positively impact your profits.

Develop Your Company’s Workplace Strategy

A workplace strategy must be developed before you set out to find your next location. Workplace strategy is defined as “the dynamic alignment of an organization’s work patterns with the work environment to enable peak performance and reduced cost,” according to the General Services Administration (GSA). With the rise of mobile workforces, flexible workplace strategies are required to accommodate employees. Today’s employees expect offices that include high-tech features with a collaborative spirit. Businesses are embracing a project-based style of work, which demands employee interaction and communication to be successful. Today’s employees that work inside office buildings seek spaces with an abundance of natural light, as it can be conducive to productivity and creativity in their work. This is just one example of how a well-crafted workplace strategy will lead to a much more productive office space.

Innovative Workplace Benefits

The benefits of an innovative workplace will very much outway any costs to expand to a new location. Companies that embrace innovation in their office plan find that they can leverage human capital investments, enhance their portfolio value and support their company’s mission objectives. When you incorporate new innovations, like improved lighting and HVAC systems, into your office space plan you leverage your operating costs. You may experience a significant drop in absenteeism, for example, by upgrading the office space, which means more time that your employees spend producing for the business.

Design with Your Ideal Employee in Mind

With the job market stronger than it has been in many years, companies are now competeing once again for the best and brightest talent. The look and feel of your office space can absolutely impact a candidate’s decision. Offices have to be more than just cubicle walls and breakrooms to encourage productivity and increase retention. According to a recent article from inc.com, “what it all comes down to is that a workplace is a part of the human experience, and a nicer office can help you have happier, more productive workers”. If your space offers amenities and services that will help your employees work smarter and live better you are more likely to experience a lower turnover rate. If you are about to start the planning process for a new or renovated office space, your first mission should be to get feedback on what your team does and doesn’t like about their current space. Don’t be afraid of the suggestions that you receive – they will ultimately lead to helping you cultivate more ideal employees. If you are willing to consider what your staff needs to succeed, you may also be able to save on future upgrade costs.

Location, Location, Location

Not every office space will be the suitable to your new, more innovative strategies. Choosing a building that understands how to support a productive environment. The Bradley Business Center offers single story flex and corporate office space that will encourage and enhance your productivity efforts. We just completed installing windows that stretch from 18″ off the ground to the ceiling, throughout all of our office spaces. Our spaces are full of the natural light your staff will be seeking. We aim help you increase productivity with these kinds of building improvements.

The Bradley Business Center can also help you meet your company’s financial goals, as a cost-effective, innovative office space solution. We offer superior amenities, modern technologies and features that are important for maintaining a positive company culture – all located on the north side of Chicago. Commuting to and from the Bradley Center is easy, as we are close to public transportation and the Kennedy expressway. Contact our leasing agent today and take the first step towards a better, more productive office space at the Bradley Business Center.