Research

Commercial construction totaled $23.8 billion between 2013 and 2017, yielding a total of more than 73 million new square feet of space. The last three years showed the strongest growth, with each year topping $5 billion and 16 million square feet of new commercial construction.

The designation made during the conference of mayors' 86th annual meeting in Boston stems from Tampa's first place finish in its 39th annual City Livability Awards Program. The city of Broken Arrow, OK, earned the top spot in the small cities category.

Amid widespread optimism about the strength of US commercial real estate, a recent Akerman report identified top trends among executives, and said that taxes and technology are major elements that will define the CRE trajectory for the next three years.

Urban sprawl has become a notable strain on residents, infrastructure, and local budgets, but many cities still have a lot of available land in their CBDs.

One of the more significant trends in the office market is tenants across all industries expanding their geographic boundaries, JLL says.

The report calls for the city to explore a second convention/exhibition center in an outer borough to compliment the existing Javits Center. The new facility would offer larger expo space and have a focus on exhibits and trade shows with large local attendance.