The Pause Continues

After a cumulative negative 600k SF of net absorption over the first two quarters, we experienced a negative 600k SF of net absorption in the third quarter alone. Put simply, we continue to have more companies moving out of space that moving into space. After a few years of around 3 million SF of annual net absorption, we're going to have troubles getting back to zero this year. As a result, our vacancy rate has now crept up to 4.2%, about half a point higher than the beginning of the year, but still very low compared to a balanced system (10%). We now have 18 folks doing Industrial Real Estate at Capacity. That is a lot of people ACTIVELY engaged in what is happening in the Greater Portland

Reshoring Success

In 2018, the number of companies reporting new reshoring and foreign direct investment (FDI) was at the highest level in history, up 38% from 2017. The combined reshoring and related FDI announcements totaled over 145,000 jobs, the second highest annual rate in history. Including upward revisions of 36,000 jobs in prior years, the total number of manufacturing jobs brought to the United States from offshore is over 757,000 since the manufacturing employment low of 2010. Allowing for a two-year lag from announcement to hire, the cumulative announcements since 2010 have driven 31% of the total increase in U.S. manufacturing jobs during that period and 3.3% of the total end-of-2018 manufacturin

You Are How You Meet

There is actually a website based on the old joke about the meeting that should have been an email. There is even a coffee mug. How many of us have been in such a gathering? How often might be the better question. The average organization probably meets too much for its own good. Most organizations meet too often, meet for the wrong reasons and may even meet for meeting's sake: board meetings, ELT meetings, division meetings, department meetings, sales meetings, marketing meetings, supervisory meetings, finance meetings, special meetings and the occasional meeting about meetings. Meetings are expensive. Time spent at conference tables--whether measured in internal cost or billable rates--may