Over 1,800 companies re-shored production in 2021, setting a new record for re-shoring activity, notes The Reshoring Initiative. These companies are looking for logistics facilities, warehouses and distribution sites.
While coworking provides similar solutions to flex space, there are some key differences. Flex space challenges the idea of traditional commercial offices, which typically require signing long-term leases.
After the frenzy of the previous market, this moment feels like an opportunity to collectively raise our heads, reevaluate the terrain and regain the offensive in terms of pursuing business objectives.
The new space is a reduction from the roughly 800,000 square feet that KPMG currently leases across three towers in Midtown. The firm plans to leave those buildings.
Lower consumer spending and inflation will test the resiliency of the industrial sector, reports The New York Times. Brookfield, Intel sign a multi-billion agreement to finance the building of chip factories, according to The Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
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