Tom Bisacquino, NAIOP Bisacquino calls it “positive news both for the industry and the nation.”

HERNDON, VA—Continuing the general theme of a Building Owners and Management Association International report issued last month—namely, that office building operations add hundreds of billions of dollars to US GDP annually—the NAIOP Research Foundation has drawn a similar conclusion about development and construction of commercial real estate. In the case of the NAIOP report, however, the dollar amount is even larger: a contribution of $450 billion in 2015, nearly twice as large as the $235 billion BOMA International reported for office ops.