WASHINGTON, D.C. – March 7, 2014 – (RealEstateRama) — Job growth is the number one concern for the commercial real estate industry, says 74 percent of NAIOP leaders from across North America who attended NAIOP’s 2014 Chapter Leadership and Legislative Retreat in Washington, D.C. On the legislative front, the federal debt (38 percent) and federal tax policies (33 percent) caused the most worry, showing that uncertainty in Washington, D.C., is most certainly holding back the full recovery of the industry.
An overwhelming majority (72 percent) feel lack of job growth and insecurity in Washington’s policies and politics is limiting tenant demand and harming industry growth. Infrastructure funding, construction costs and technology’s impact on future development also were top concerns with leaders.
Using a baseball analogy, NAIOP asked attendees to identify what “inning” the industry is in from a national, not regional, perspective. More than half (52 percent) believe the industry is in the fourth or fifth inning; 23 percent say it’s in the sixth or seventh inning; 18 percent see the industry in the first through third innings; and a mere 7 percent think the industry is in the eighth or ninth inning.
More than 200 NAIOP chapter leaders participated in the live-voting session during the Retreat’s opening session.
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About NAIOP: NAIOP, the Commercial Real Estate Development Association, is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP comprises 15,000 members in North America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit www.naiop.org.