Development and construction of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. This annual study, published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.
The NAIOP Research Foundation commissioned this report to provide the real estate development community with insight into current and future trends in building and logistics technologies and their implications for industrial real estate. Steve Weikal and James Robert Scott, researchers at the MIT Real Estate Innovation Lab, interviewed professionals specializing in industrial building design and automated systems to identify emerging trends that will be of interest to industrial developers, building owners and tenants.
A new office space demand forecast published by the NAIOP Research Foundation projects a period of negative absorption through late 2020 and early 2021, but total net absorption from Q2 2021 to Q3 2022 will exceed negative absorption from the recession, resulting in overall gains.