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 | Feb 13, 2020
CareerBuilder’s Chicago HQ undergoes renovation
Perkins and Will designed the project.
Office Buildings | Feb 11, 2020
Want your organization to be more creative? Embrace these 4 workplace strategies
Creativity is the secret sauce in the success of every business.
Office Buildings | Feb 11, 2020
Forget Class A: The opportunity is with Class B and C office properties
There’s money to be made in rehabbing Class B and Class C office buildings, according to a new ULI report.
Office Buildings | Feb 3, 2020
Balancing the work-life balance
For companies experiencing rapid growth, work-life balance can be a challenge to maintain, yet it remains a vital aspect of a healthy work environment.
Sponsored | HVAC | Feb 3, 2020
Reliable Building Systems Increase Net Operating Income by Retaining Tenants
Tenants increasingly expect a well-crafted property that feels unique, authentic, and comfortable—with technologically advanced systems and spaces that optimize performance and encourage collaboration and engagement. The following guidance will help owners and property managers keep tenants happy.
Office Buildings | Jan 29, 2020
Zaha Hadid Architects to build OPPO’s new Shenzhen HQ
ZHA sees your two connected towers and raises you another two.
Wood | Jan 24, 2020
105,000-sf vertical mass timber expansion will cap D.C.’s 80 M Street
Hickok Cole is designing the project.
Office Buildings | Jan 22, 2020
Headspace expands Santa Monica corporate HQ
Montalba Architects designed the project.
Office Buildings | Jan 19, 2020
Internet platform connects its employees with mile-long staircase in new HQ
Color also plays a big role in the interior design of this 19-story building.
Office Buildings | Jan 16, 2020
Jaguar Land Rover’s Advanced Product Creation Centre has the largest timber roof in Europe
Bennetts Associates designed the project.
