About 15 years ago, Bill Wright, with CBRE first saw the trend of manufacturers and distributors across the state begin to co-locate final assembly or distribution facilities in the Des Moines metro to take advantage of the workforce, the confluence of I-80 and I-35 and the other amenities the golden circle offers. Today, companies take advantage of TIF (Tax Increment Financing) dollars and tax abatements offered by municipalities to incentivize them to move into their cities.
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With only 6% availability, new construction may be in order. The construction industry is finally rebounding from the supply chain issues brought about by Covid. The absorption rate created by a decrease in new construction makes it critical you reach out to a savvy realtor and engage with an owner’s rep as you contemplate your next site.
Because of the vacancy rates created by the remote work trend, many organizations are upgrading their space to take advantage of improved amenities such as coffee kiosks, childcare, on-site gyms, and state-0f-the-art conference spaces.
To contact Bill, email him at bill.wright2@cbre.com or give him a call at 515-221-6672.