Good News for Warehouse Tenants! New York’s Industrial Vacancy Rate Surpasses 9% for First Time in a Decade

Industrial availability has come full circle in New York (state), with the active industrial pipeline pushing the availability rate above 9%, a figure that has not been observed since 2014. This is actually healthy for the market and is slightly north of historic “equilibrium”. The availability rate has increased for eight consecutive quarters, fueled by…

Cities With Higher Living Costs See Weaker Office Demand

The longer the post-pandemic turmoil in office demand continues, the more clues emerge about what separates the wheat from the chaff for this property type. The relative cost of living in an office building’s metropolitan area appears to be a significant factor. Since 2020, several secular variables have become associated with office performance. These include…

Site Selection ‐ Look Beyond the Unemployment Rate

Employment data is always at the top of corporate site selection evaluations. Corporate leaders need to understand the level of talent and specifics regarding various types of positions and overlaps from competing companies and industries. One of the most misunderstood and misleading data points is the unemployment rate. By definition, the unemployment rate represents the…

Remote Work Varies Significantly Market to Market

Interesting data on office utilization from Yardi Matrix and the Census Bureau. We can see that office utilization rates are not static or universal. They vary significantly from market to market. The Census Bureau’s American Community Survey (ACS) provides detail about the percentage of the working population that primarily works from home. According to the…

2023 U.S. MSAs – Call Center Saturation

We are frequently asked by corporate leaders in various industries, “Where should we locate our next facility?” Call center saturation can greatly impact the performance and profitability of a corporation due to employee attrition, wage increases, and labor quality decline. There are constant revisions to our site selection lists based on certain markets getting saturated…

2024 State Business Tax Climate Index

A state’s tax climate is a critical component in the site selection process. Below is the Tax Foundation’s State Business Tax Climate Index, which scores and ranks all states based on each major component of a state’s overall tax burden – corporate, individual income, sales, property, and unemployment insurance taxes. While each component is separately…

2023 Top 20 States for Manufacturing

While criteria for location decisions are unique to a specific project’s needs, the “bedrock” factors tend to be on everyone’s lists. Talent attraction & retention, labor costs, efficiency in shipping goods/products, business environment, infrastructure, real estate costs and availability and economic incentives are the cornerstones of these corporate decisions. While no one state will score…