Commercial Property News - October 2008 - (Page 10)

MARKET INTELLIGENCE INDUSTRIAL exports, fueled by the weak dollar, are now aiding those sectors. Among those U.S. industries in which exports account for at least one-fifth of total output, production has jumped at least 17 percent during the past two-and-a-half years, Huether estimated. Global demand is also encouraging expansion in the United States, even in some industries that have been struggling for years, if not decades. No nuclear plants have risen in the United States for decades, but a joint venture of The Shaw Group Inc. and Westinghouse Electric Corp. in August disclosed plans to build a Lake Charles, La., plant that will fabricate components for new and existing nuclear reactors.The partners expect the facility to find customers both at home and abroad. Construction of new pulpand-paper mills in the country also has long been stagnant.Yet this summer, Pratt Industries Inc. announced that it will build a recycled containerboard plant in Shreveport, La. Consultants and developers will also have to serve a new breed of manufacturers, those producing innovative, sophisticated products related to energy and technology. U.S. manufacturers—both new and traditional—that are seeking site-selection help face a challenge in narrowing down locations from a variety of attractive options, including states and locales that dangle tax breaks and other incentives. The business-friendly, right-towork Southeast is certainly maintaining its reputation as a favored destination. This year, a quartet of foreign automakers announced that they will build massive facilities south of the Mason-Dixon line.Chattanooga, Tenn., landed a $1 billion Volkswagen AG assembly plant in July, beating out more than 20 other cities.Also in the pipeline are Toyota Motor Corp.’s $1.3 billion plant in Tupelo, Miss.; Kia Motors Corp.’s $1.2 billion location in West Point, Ga.; and BMW Group’s planned $750 million manufacturing plant in Spartanburg, S.C. Though the South remains popular, new facilities are popping up all over the map. This fall, Church & Dwight Co. plans to kick off construction of a $150 million, 1.1 million-square-foot laundry detergent plant and distribution hub in York County, Pa. In the June announcement, CEO James Craigie cited proximity to major interstates and to Philadelphia as clinchers. “Access,” though, no longer means simple proximity to the highway. New distribution strategies are guiding location decisions for many. Dr Pepper Snapple Group Inc. expects to complete in 2010 a $120 million, 850,000square-foot manufacturing and distribution hub for the Western region at Global Access, an 8,500acre project that will combine logistics, intermodal and airport facilities on the former site of George Air Force Base in Victorville, Calif. —Reach industrial editor Paul Rosta at paul.rosta@nielsen.com. For the best in office and industrial brokerage, look first for an SIOR professional. You simply get more. more experience. Incoming members must: • have 5 years of experience in commercial real estate • meet significant gross income thresholds • have recommendations from 2 other SIOR members • complete stringent educational requirements • adhere to the industry’s most stringent Code of Ethics There is no question about it. more coverage. • • • more than 3,000 members of SIOR active in 525 markets in 20 countries last year cooperative transactions among SIOR members exceeded $1 billion To locate an SIOR near you or to simply learn more, call 202-449-8200 or visit our website. SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® sior.com The world’s leading commercial real estate professionals. 10 Commercial Property News • October 2008 • www.cpnonline.com http://www.sior.com http://www.sior.com http://www.cpnonline.com

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CPN - October 2008 Contents Starting Line Industrial Data/Analysis Conferences Chicago Market Profile Finance International Title Insurance Brokerage Corporate Report

Commercial Property News - October 2008

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