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WASHINGTON, DC-Adding to the chilling effect of government uncertainty on development that a newly published NAIOP Research Foundation report cited, Congress and the Obama administration have continued their showdown—or standoff—on the partial federal government shutdown into a second week. This will be followed by a likely battle over raising the debt ceiling. Neither event is making an immediate mark on CRE, but NAIOP president and CEO Thomas Bisacquino tells GlobeSt.com that the overhang in terms of business confidence will be with us for awhile.

“A government shutdown doesn’t immediately impact commercial real estate, because CRE is such a long-term play,” says Bisacquino. “If we’re partners in a development project and the project is moving forward, it doesn’t immediately put ice on our confidence.

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