U.S. Factory Construction Spending Has Doubled Since Last Year

June 9, 2023 / no comments

Construction spending for new factories in the U.S. has more than doubled over the past year, new data from the Census Bureau shows.
Construction spending for factories reached $190B in April, far above the $90B reached in June 2022, Business Insider first reported. Manufacturing accounted for roughly 13% of nongovernment construction.
Roughly 200,000 manufacturing jobs have been added in the U.S. over the past two years, with 13 million workers employed in the industry today, Insider reported, citing figures from the Bureau of Labor Statistics jobs report from May. 
The boom in manufacturing construction comes as billions of dollars in federal government spending start to…

As LA Embraces Mixed-Use Development, Opportunities For Life Sciences Companies Abound

June 9, 2023 / no comments

While Los Angeles may not be the first city that comes to mind when people think of life sciences powerhouses, that may soon change. A March 2023 Cushman & Wakefield report found that life sciences employment in the region has risen by 13.4% over the last decade.
Patrick Schubert, a partner at architecture firm Ennead Architects, said it is time the LA commercial real estate industry takes notice of the burgeoning life sciences market and the growing demand for lab space in the area.
“While life sciences represent a small percentage of the commercial real estate in LA, there’s an increasing demand for…