The economy’s underlying fundamentals remain solid, underpinned by a robust job market. An average of 202,000 new jobs were created every month in 2018—more than the monthly averages in both 2016 and 2017. Stimulus from the Tax Cuts and Jobs Act of 2017 will keep demand for office space growing at a strong pace. Office-using job growth in Q1 2018 was stronger than the 2017 average. Industrial output rose 3.2%—the largest 6-month growth rate for any period since 2010. Retail sales for March recorded an increase at auto dealers, furniture and home stores, and electronic and appliance sellers.
Read Cushman & Wakefield’s analysis of 2018 first quarter commercial real estate results by clicking on the links below.
Modern Cities is reporting Hogan Street, downtown, could soon be getting new, protected bike lanes. This measure would help keep the roads and sidewalks safer for all. It would also allow neighborhoods like Brooklyn and Springfield to connect to downtown safety for bicyclists. Would you ride your bike into downtown? How do you think this will impact our downtown?
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Florida Ranks Third for Highest CRE Spending In the U.S.
In a recent NAIOP Economic Impacts of Commercial Real Estate study, George Mason University measures each state’s contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.
- Commercial real estate development and operation of existing buildings generated the following economic benefits:
- Supported 7.6 million American jobs in 2017 (a measure of both new and existing jobs).
- Contributed $935.1 billion to U.S. GDP.
- Generated $286.4 billion in salaries and wages.
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