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
Industry Research | Feb 15, 2017
Putting workers first should be every employer’s priority
The latest Sodexo report on workplace trends explores 10 factors that are impacting the global work environment.
Office Buildings | Feb 8, 2017
London office building employs transitional forms to mediate between the varied heights of surrounding buildings
Friars Bridge Court will provide a transition between the unvarying height of the buildings to the south and the more varied heights of the northern buildings.
Office Buildings | Feb 7, 2017
SOM-designed HQ will provide new riverfront space for C.H. Robinson
Over 1,000 employees will work in the HQ building when completed.
Office Buildings | Feb 6, 2017
The see-through office: Why interior glass is all the rage in workplace design
The hottest material in workplace design—interior glass—opens offices to light and collaboration. But what about privacy and acoustics?
Office Buildings | Feb 3, 2017
Zurich defies center-core office archetype with stacked, cantilevered HQ
The top bar is 500 feet long, spans 180 feet between the bottom two bars, and cantilevers out 60 feet to the east.
Office Buildings | Feb 2, 2017
3 tips for designing workplaces that support culture, brand, and community
An authentic culture cannot be forced, but can be encouraged and supported.
Office Buildings | Dec 14, 2016
The importance of 'Place' in the workplace
More, and more, companies are emphasizing the importance of creating a meaningful sense of place in the office environment for all of their employees, writes Gensler's Kevin Rosenstein.
High-rise Construction | Dec 13, 2016
The tallest building in Manhattan’s Meatpacking district tops out
The office, designed by CetraRuddy, will be completed in 2017.
| Dec 6, 2016
Workplace pilots: Test. Learn. Build
Differentiated from mock-ups or beta sites, workplace pilots are small scale built work environments, where an organization’s employees permanently reside and work on a daily basis.
Office Buildings | Dec 6, 2016
eBay’s San Jose headquarters has a new interactive hub and welcome center named Main Street
The campus’s new ‘front door’ is designed to immerse visitors and employees into the company’s global commerce.
