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Although economic activity has been strong, and unemployment low, investors will tread carefully in the midst of the potential effects of the evolving trade tensions.
Commercial construction may have reported a decrease in the DFW area, but there is only continued growth in the multifamily sector, specifically in the larger sized projects.
San Francisco office space continues to dwindle, and the area may face a shortage of available office space between now and 2022 when the next major office project will be completed.
With the unemployment rate at 4%, many companies are taking a cold hard look at just what employees, especially the decision-driving Millennials, want in office spaces.
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 report notes that while several new large public works projects have came on line this year, the residential housing sector in the borough has accounted for more than 50% of the construction starts in the first nine months of this year.
Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for the first three quarters of 2017 also outpaced the full-year totals from 2010 through 2014 and is on track to surpass the $4.6 billion in construction starts initiated in 2015.
With a pair of Facebook data centers in Virginia representing the largest projects to enter planning during the month, October's increase nearly wiped out the previous four months' erosion, according to Dodge data.