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
| Oct 18, 2013
Researchers discover tension-fusing properties of metal
When a group of MIT researchers recently discovered that stress can cause metal alloy to fuse rather than break apart, they assumed it must be a mistake. It wasn't. The surprising finding could lead to self-healing materials that repair early damage before it has a chance to spread.
| Oct 18, 2013
Sustainability expert: Smart building technology can have quick payback
Smart building technology investments typically pay for themselves within one or two years by delivering energy savings and maintenance efficiencies.
| Oct 14, 2013
How to leverage workplaces to attract and retain top talent
Just about every conversation I have related to employee attraction and retention tends to turn into an HR sounding discussion about office protocols, incentives, and perks. But as a workplace strategist, I need to help my clients make more tangible links between their physical workplace and how it can be leveraged to attract and retain top talent. Here are some ideas.
| Oct 10, 2013
Carnegie Mellon study looks at impact of dashboards on energy consumption
A recent study by Carnegie Mellon took a look at the impact of providing feedback in an energy dashboard form to workers and studying how it impacted overall energy consumption.
| Oct 9, 2013
SOM gets second crack at iconic modernist structure in New York
More than 50 years after SOM completed the Manufacturers Hanover Trust building, the firm is asked to restore and modernize the space.
| Oct 7, 2013
Nation's first glass curtain wall exterior restored in San Francisco
The Hallidie Building's glass-and-steel skin is generally recognized as the forerunner of today’s curtain wall facilities.
| Oct 7, 2013
10 award-winning metal building projects
The FDNY Fireboat Firehouse in New York and the Cirrus Logic Building in Austin, Texas, are among nine projects named winners of the 2013 Chairman’s Award by the Metal Construction Association for outstanding design and construction.
| Oct 2, 2013
Corporate HQ in 10 months made possible with BIM coordination
An integrated Building Team uses BIM/VDC to convert a 1940s-era industrial building into a flashy new headquarters for Hillshire Brands in a matter of months.
| Oct 1, 2013
13 structural steel buildings that dazzle
The Barclays Center arena in Brooklyn and the NASCAR Hall of Fame in Charlotte, N.C., are among projects named 2013 IDEAS2 winners by the American Institute of Steel Construction.
| Sep 24, 2013
8 grand green roofs (and walls)
A dramatic interior green wall at Drexel University and a massive, 4.4-acre vegetated roof at the Kauffman Performing Arts Center in Kansas City are among the projects honored in the 2013 Green Roof and Wall Awards of Excellence.
