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
Office Buildings | Apr 7, 2021
Thyssenkrupp’s new HQ will include the tallest elevator test tower in the Western Hemisphere
The facility began construction in August of 2019.
Office Buildings | Apr 5, 2021
FXCollaborative selected to create new lobby, amenity space for 3 Times Square
FXCollaborative designed the original building in 2001.
Office Buildings | Apr 5, 2021
Innovation One completes at University Research Park in Madison, Wis.
Valerio Dewalt Train designed the project.
Office Buildings | Mar 30, 2021
WELL Institute certifies a gigantic office complex with its highest health and safety rating
Poland’s Olivia Business Center one of the first to install ion air purification devices.
Office Buildings | Mar 26, 2021
Finding success for downtown office space after COVID-19
Using the right planning tools can spur new uses for Class B and C commercial real estate.
Office Buildings | Mar 24, 2021
JEA Headquarters tops out in Jacksonville
The building has recently topped out.
Energy Efficiency | Mar 23, 2021
ASHRAE’s new headquarters walks the talk about net-zero energy
The conversion of a 1970s’-era building demonstrates how older structures can be made more efficient and sustainable.
Office Buildings | Mar 22, 2021
Make-A-Wish Foundation of Southern Florida unveils design for new chapter HQ
Arquitectonica is designing the project.
Office Buildings | Mar 16, 2021
Perkins&Will unveils design of its New York Studio
The studio supports hybrid work models with agile layouts and integrated broadcast technologies.
Laboratories | Mar 10, 2021
8 tips for converting office space to life sciences labs
Creating a successful life sciences facility within the shell of a former office building can be much like that old “square peg round hole” paradigm. Two experts offer important advice.
