U.S. manufacturing resurgence faces headwinds

While nearshoring and reshoring activities have increased from both businesses and governments, the sector is facing significant headwinds in achieving meaningful impact, according to Cushman & Wakefield

“Disruptions to supply chains across the world have been the norm over the past three years, bringing the impacts of globalization and the importance of well-functioning supply chains into sharper focus,” said David Smith, head of Americas insights. “Not just an operational or financial headache for businesses to contend with, the disruptions grew so deep that consumers also felt them acutely.”

With the revived effort to begin reshoring and nearshoring manufacturing to the United States, the composition of real estate will need to change. Manufacturing vacancy now makes up 10.3 percent of the country’s total available space. With only 80 million square feet of space under construction, of which half will be owner-occupied and 25 percent is non-owner-occup