Jll Chicago Industrial - Real Time

Rick Steger, head of JLL’s industrial project and development services group, marks his first return to the podcast since Episode 3. In this installment, we discuss the state of the industrial construction market during COVID-19—including safety features clients are requesting in buildouts, and opportunities in e-commerce, manufacturing and medical/biotech. We also examine how a few trends have evolved since Rick discussed them back in 2017.   2:50: Before COVID-19 hit, U.S. construction was projected to be flat in 2020. 4:17: Project times have lengthened due to government shutdowns, productivity declines, labor shortages and delayed equipment/material deliveries during COVID-19. 7:26: Construction hit its bottom April 22, when 60% of U.S. projects were put on hold or canceled, but began bouncing back by May 20, with many projects back up and running early to mid-June. 11:48: The construction industry is predicted to be down 10-15% overall in 2020 vs. 2019 – not bad considering how much it’s grown over the