Cautious Optimism on Industrial
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|The industrial manufacturing index has shown positive increases for the past 10 months, leaving new Cushman & Wakefield industrial head Jim Dieter âcautiously optimisticâ about the sector. The 35-year vet tells us that as customers require more product on store shelves, inventories are being replenished—now companies who've reduced their real estate footprints need to expand again. His forecast? A predictable uptick in demand will lead to positive absorption throughout '11. And this is good news for the economy as well—manufacturing creates jobs, grows companies, and enhances the railroad and shipping industries. The only factor that might temper demand is if job indicators don't coincide with actual employment.|
|Some seaports, in particular, have a bright future with the expansion of the Panama Canal, above. Many are already dredging to accommodate newer ships, Jim says. And railroads are now investing heavily in infrastructure. One challenge we face is solving the traffic congestion around seaports—Asian cities, like Shanghai, have trucks going in and out of seaports at the speed limit, while trucks around US seaports crawl at a snail's pace. Those are two words Jim's not familiar with. The Chicago-based exec has been in his position only three months and already visited NYC, NJ, Philly, Baltimore, Orlando, Toronto, and Dallas (next stops: Atlanta and Los Angeles) to meet with C&W's local offices and clients.|