Industrial Intensification

This week I read the Best Practices for the Intensive Use of Industrial Land Discussion Paper written for the Vancouver Industrial Market.  The paper discusses the challenges faced as populations grow and land is scarce for industrial development, developers and communities must become more creative to better utilize industrial sites and make them more efficient.  While Salt Lake and Utah still have plenty of commercial and industrial real estate available for the near term these ideas and practices are affecting many markets across the world and with our growth rates it isn’t too soon to begin planning ahead.

The paper touts the benefits of this intensification explaining that it provides “the opportunity to accommodate increased economic and employment activity on a limited land base, more efficient use of lands and resources, reducing impact on the environment, using transportation infrastructure more efficiently, extending the lifespan of available industrial lands, and reducing the pressure to convert agricultural and rural lands to industrial uses.”Take a moment to peruse the discussion paper here and explore the world of evolving industrial buildings.

HAPPY THANKSGIVING EVERYBODY!

As your friends and family gather around for Thanksgiving dinner, think of all the wonderful time you have spent together. Count your blessings, as you have the gift of love and companionship. Share happy thoughts, optimistic plans, and dreams with your family.

The tradition of Thanksgiving dinner teaches us to appreciate the finer things in life. If you want this tradition to continue, you must invest positive energy into the Thanksgiving dinner, and make it a joyous affair. Let your enthusiasm and energy revitalize everyone. Prepare a great Thanksgiving toast and inspire others with your positive words. Make this your best Thanksgiving dinner.

Here are some Thanksgiving Quotes to help you make this a memorable Thanksgiving:

• Henry Clay
  "Courtesies of a small and trivial character are the ones, which strike deepest in the grateful and appreciating heart."
• Johann Wolfgang von Goethe
  "If we meet someone who owes us thanks, we right away remember that. But how often do we meet someone to whom we owe thanks without remembering that?"
• W. T. Purkiser
  "Not what we say about our blessings, but how we use them, is the true measure of our thanksgiving."
• Charles Spurgeon
  "Before you go out into the world, wash your face in the clear crystal of praise. Bury each yesterday in the fine linen and spices of thankfulness."

Congratulations on 20 Years Michael!

We gathered for lunch today with the IPG team and a few friends to celebrate Michael’s 20th year in the business. There were great toasts and some fantastic roasts shared about Michael and everyone acknowledged the lasting impact Michael has had on their individual lives and the Utah Commercial Real Estate marketplace. Congratulations, Michael! 

Salt Lake City – 69 Square Feet of Warehouse per Person

Salt Lake has long been known for its nickname as the “Crossroads of the West.” This title was true in the days of wagon trails and remains true in the transportation needs of today.  In studying the “Path of Goods Movement” Dr. Glenn Mueller of the University of Denver has analyzed the warehouse demand throughout cities across the U.S. to identify the best locations for warehouse distribution centers. The national average of warehouse square feet per person is now 54, increasing up from 37 back in 1981. The study determines that those cities with an average above 50 square feet per person are located on the Path of Goods Movement and are national warehouse markets.  At 69 square feet per person, Salt Lake City continues to be located on the major pathway for goods as both truck and train travel through on their way to other markets.  Dr. Mueller concludes that “National warehouse markets are more stable as they have grown faster and have had consistently higher occupancies than local warehouse markets – as they are on the Path of Goods Movement and thus a good place to focus real estate investments. “   Link to the full paper

Holy Boatload Batman!

Michael visited the port of Long Beach this past week. He learned that the Union crane operators earn $250,000 per year for working 3 days a week.

With over 6,000,000 containers per year, I wonder how much that works out to per container?