The outlook for the commercial real estate industry remains strong despite growing concerns over sluggish job creation and higher taxes, according to a new survey of commercial real estate professionals who attended a leadership conference hosted by NAIOP, the Commercial Real Estate Development Association.
The poll was conducted during NAIOP’s 2015 Chapter Leadership and Legislative Retreat and surveyed over 100 commercial real estate insiders.
Nearly half of respondents indicated that sluggish job growth was a major concern and nine out of 10 indicated that higher capital gains taxes would have some impact on investment and growth, with many saying the impacts could be “severe.”
President Obama’s FY 2016 budget proposal includes a proposal to raise the top tax rate to 28% on capital gains and qualifying dividends for couples with income over $500,000.
Despite concerns over sluggish job creation and higher taxes, 52% projected strong growth in 2015, while 43% saw the industry as remaining stable.
“Our members are optimistic, but sluggish job creation and the looming threat of higher taxes are their main worries right now. Given our industry’s contribution to a durable economic recovery and generating good-paying jobs, we hope Congress and the president will hear this and weigh the serious consequences of a tax hike at this time,” said Thomas J. Bisacquino, president and CEO of NAIOP.
When asked the question “what keeps you up at night?” 27% of respondents indicated that gridlock in Washington was a major concern. “We need strong and consistent policies from Washington that encourage investments in development projects so more Americans can share in our economic recovery,” said Bisacquino.
Related Stories
| Aug 11, 2010
ASHRAE introduces building energy label prototype
Most of us know the fuel efficiency of our cars, but what about our buildings? ASHRAE is working to change that, moving one step closer today to introducing its building energy labeling program with release of a prototype label at its 2009 Annual Conference in Louisville, Ky.
| Aug 11, 2010
RMJM unveils design details for $1B green development in Turkey
International architecture company RMJM today announced details of the $1 billion Varyap Meridian development it is designing in Istanbul’s new residential and business district, which will be one of the "greenest" projects in Turkey. The luxury 372,000-square-meter development on a site totalling 107,000 square meters will be located in the Atasehir district of Istanbul, which the Turkish government intends to transform into the country’s new financial district and business center.
| Aug 11, 2010
10 tips for mitigating influenza in buildings
Adopting simple, common-sense measures and proper maintenance protocols can help mitigate the spread of influenza in buildings. In addition, there are system upgrades that can be performed to further mitigate risks. Trane Commercial Systems offers 10 tips to consider during the cold and flu season.
| Aug 11, 2010
Gilbane's Fox Network Center earns National Excellence in Construction Award
Gilbane Building Company’s work on Fox Network Center in Houston, Texas, has earned the company an Eagle Award in the Commercial - $25-million - $100-million category of ABC’s Excellence in Construction Awards. Gilbane’s representatives received the award during the 19th annual Excellence in Construction Awards celebration.
| Aug 11, 2010
Leggat McCall/Commodore Builders/O’Hagan “15 Days” earns LEED Platinum
The ambitious “15 Days” project that teamed up Leggat McCall Properties, Commodore Builders and Audrey O’Hagan Architects, LLC last September has just been certified LEED-platinum by the U.S. Green Building Council (USGBC) – the first and only commercial interior work in Boston to earn that distinction.
| Aug 11, 2010
Perkins Eastman designing next gen trading floor for NYSE EURONEXT
The New York office of international design and architecture firm Perkins Eastman has been commissioned by NYSE Euronext to design the “next generation trading floor” through extensive renovations to the floor’s Main Room, replacing traditional broker booths with modern trading desks, new screens and workspaces, and a new network while creating a unified trading environment.
| Aug 11, 2010
Installation work begins on Minnesota's largest green roof
Installation of the 2.5 acre green roof vegetation on the City-owned Target Center begins today. Over the course of two days a 165 ton crane will hoist five truckloads of plant material, which includes 900 rolls of pre-grown vegetated mats of sedum and native plants for installation on top of the arena's main roof.
| Aug 11, 2010
AECOM, Arup, Gensler most active in commercial building design, according to BD+C's Giants 300 report
A ranking of the Top 100 Commercial Design Firms based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Girl Scouts of San Jacinto Council Program Place Project
Houston, Texas
The Girl Scouts of San Jacinto Council Program Place is the headquarters for the largest Girl Scout Council in the U.S., with 63,000 scouts. The building houses the council’s administrative offices, a Girl Scout museum, and activity space. When an adjacent two-story office building became available, the council jumped at the chance to expand its museum and program space.
