With shipping and freight insurance costs rising significantly, US manufacturers are pivoting to be more local. This has the potential to profoundly impact all types of CRE in markets all over the country.
According to Newmark’s National Industrial Market Conditions and Trends Report, there will be continued resilience but on a muted scale for industrial assets in 2024. Unpredictability in the global supply chain will drive long-term demand for industrial space due to the need for diversified sourcing and ports of entry,
A desire to bring manufacturing closer to the consumer, recent federal funding initiatives, as well as access to a skilled workforce and reliable power among other advantages have converged to spur growth in construction of U.S. manufacturing facilities.
In Seven Supply Chain Predictions for 2024, the logistics development powerhouse makes some appropriately large-scale forecasts. And how did Prologis’s forecasts for 2023 fare? A bit mixed, but more right than wrong.
Florida Gov. Ron DeSantis has unveiled his transportation budget for the coming fiscal year. The budget includes $25 million for truck parking. Dubbed Focus on Florida’s Future budget proposal for fiscal year 2024-2025, the plan includes $15.6 billion for transportation to target critical congestion relief and safety projects. The governor’s administration says the proposal allows the Florida