Cawley CEO, Zach Pruitt, shared his optimism for the year ahead. With people returning to the office and the industrial market booming with low vacancies, we’re looking forward to the positive momentum ahead. Watch the video here.
Transcript:
Outlook for 2025
So, what’s the outlook for 2025? I think it really starts with 2024 where we ended as a company, but also the market as a whole.
Market Recovery
I think if you on a macro level, if you look across the country statistically markets are improving from where they were from you know the the heart of the pandemic and kind of coming out of it. You look at where they were in 2023 compared to where we ended in 2024, and things are on the rebound; they’re on the recovery. You know we’re seeing people back in the office. There’s employees coming back in office buildings they’re starting to get built back up. Leases are getting done, you know people are moving in the office sector so that’s great to see.
Chicago and Industrial Trends
Here in Chicago specifically, we’re seeing a lot of companies that are office focused moving to the neighborhoods which is great. We’re seeing a lot of velocity in the neighborhoods. In the industrial market, it hasn’t been hotter. I mean it’s single digit vacancies across the country and in so many markets right now. As we look into 2025, it’s nothing positive I think consistently across the board with any of our offices. With any of our teams teams everyone’s extremely optimistic what’s to come, there’s a lot of things going on. We ended 2024 extremely strong to go into 2025. A lot of activity is pushing and and continuing to go company’s moving. We see new development going on in all sectors right now, industrial more than more than others. But extremely optimistic of what the the year ahead of us has to bring.