In an era marked by unprecedented disruptions and rapid technological advancements, J.C. Renshaw, head of supply chain consulting – North America, Savills North America, presented key challenges, emerging trends, and his predictions for what lies ahead at the I.CON East conference this week in Jersey City, New Jersey.
“Labor availability trumps labor costs as a top concern in the Eastern Pennsylvania and New Jersey markets,” said David Hickey, global managing director at Hickey Associates. He led experts in a dynamic discussion at I.CON East this week in Jersey City, New Jersey. They drilled down on the region’s data and provided strategies to navigate the tight talent market.
Fortifying the supply chain is essential to secure the long-term viability of a business and its surrounding community. Disruptions over the past few years like the COVID-19 pandemic, natural disasters, and cyberattacks have underscored the vulnerability of supply chains and the need for robust strategies to mitigate risks.
“[Artificial Intelligence] won’t replace real estate people. AI will replace real estate people who don’t have AI,” said Itay Ron, senior president of Northeast markets at Faropoint at the I.CON East conference this week in Jersey City, New Jersey. “Right now, we are reaching an inflection point where you can easily use data for commercial real estate,” Ron continued, discussing the state of artificial intelligence technology and how commercial real estate professionals can utilize AI in their investments.
“Volatility and uncertainty” describe the current state of the markets, according to Tom Griggs, managing director and head of industrial & logistics for the East at Hines, with the past 12-18 months presenting a difficult environment. Griggs led an expert panel discussion on the outlook for the industrial real estate capital markets at NAIOP’s I.CON East.
“We’ve been modeling for the U.S. to enter recession this quarter for the last year now,” began Dana M. Peterson, chief economic and center leader for economy, strategy and finance at The Conference Board, to a sold-out audience in a keynote at NAIOP’s I.CON East this week in Jersey City, New Jersey. She explained what a recession would look like, emerging economic trends, and their implications for industrial real estate.
