Compared to April, commercial real estate developers in May sawlesser impacts from the COVID-19 pandemic, although theimprovements are slight and developers have come to believe theirbusiness interruptions will last longer than first thought.
Those findings were part of a survey from May 18 to 20 completedby 461 developers for the Commercial Real Estate DevelopmentAssociation, which uses the acronym NAIOP, which stands for thegroup's former name, National Association for Industrialand Office Parks.
Even though 62% of respondents still say they're seeingpermitting or entitlement delays and 57% are still experiencinglower leasing activities, both of these metrics represent animprovement from the NAIOP survey conducted in April. There's beena sharp decline developers saying they see delays or shortages inconstruction supplies: 31% said this in April, and only 19%experienced it in May.
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Angela Morris
Angela Morris is ALM Media's Texas litigation reporter. She covers lawsuits in all levels of Texas state and federal courts. Based in Austin, Morris earned journalism and government degrees from the University of Texas at Austin in 2006, and since then, has worked primarily as a reporter and writer, but also has skills in videography, photography and podcasts. Follow her on Twitter at @AMorrisReports.
