Rising office vacancy rates are a reality as are dropping rents as office buildings compete for fewer and fewer customers. Local and state taxes connected to these buildings and workers will take a hit with the reduction in office values and loss of workers to Work From Home and Artificial Intelligence. While it is too […]
The urban Downtown office market is facing a crisis which is only going to get worse. The Downtown office vacancy rates from Cushman and Wakefield’s 2023 analysis as outlined in the chart below in the major urban markets throughout the Great Lakes illustrate substantial struggles with the current Downtown office markets. This data is of […]
State governments and economic development organizations are jumping into the business of supporting the development of industrial parks. Communities and companies seeking to develop an industrial park need to identify potential sources and uses of funding for the development of the public sector industrial park that include the programs outlined above, support the creation of […]
Determining a site has market potential to be an industrial park is not the end of the effort to create a higher and better use for the land. To retain and attract manufacturing, research and development and logistics companies and centers, the sites need to have a Public-Private-Partnership to ensure the site is properly zoned, […]
Rising interest rates have slowed to a crawl the development of private sector speculative industrial space. This presents an opportunity for communities to use an “old” tool to create public sector industrial parks to capture the manufacturing product that remains strong throughout the United States. Industrial developers across the Country, and in particular Midwest markets […]
It was the best of times… it was the worst of times… to quote Charles Dickens speaking of life during the French Revolution has an interesting application tied to the impact of the 2024 U.S. election on corporate site location projects. While the U.S. is not experiencing the Reign of Terror it just feels like […]
Most really good parties result in an equally strong hangover. 2024 will likely be a hangover and not a party year. The federal government, in response first to COVID-19 and then based upon a political turnover to the Democrats in Washington, ran the money printing press 24 hours a day. The Congress with the support […]
The Montrose Group 2024 corporate site location trends illustrate the growing impact of a slowing U.S. economy. Based upon the Montrose Group’s negotiation of over 300 corporate site location projects, annually the firm releases a top 10 corporate site location trends. The corporate site location process decides where a company is located, and this process […]
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