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Texas second nationally in CRE developmentTexas second nationally in CRE developmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=163142017-04-11T05:00:00Z2017-04-11T19:00:00Z

​​DALLAS – Commercial property construction expenditures topped $18.5 billion in Texas last year, second only to New York. 

A new report from the NAIOP Rese​arch Foundation found that commercial development supported 310,99​4 jobs here in 2016.

Nationally, the commercial development and construction industry contributed $861 billion to the U.S. gross domestic product and supported 6.25 million jobs.

New York State had $24.8 billion in direct commercial real estate spending.

The annual study adds up hard and soft costs for a variety of real estate projects, including office buildings, warehouses, industrial plants, and retail and entertainment building.

Texas was first nationally in retail and entertainment spending, with $4.1 billion in construction last year. It ranked second in office development ($8.4 billion) and warehouse construction ($3 billion).​

Dallas Morning News
Texas
Office
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