Texas top state in CRE developmentTexas top state in CRE developmenthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=194902018-03-20T05:00:00Z2018-03-20T15:00:00Z

​​​DALLAS – Texas was the top state for commercial real estate development contributions to the ​​economy last year. 

According to the ​NAIOP, the Commercial Real Estate Development Association, $24.38 billion was spent on commercial construction in Texas. The building sector ​contributed almost $59 billion to the state's economy. It supports nearly 380,000 jobs. 

Texas leads the nation in warehouse and retail development. Only California has more office development.

The national commercial property sector supports 7.6 million jobs and contributed $935.1 billion to the U.S. economy in 2017. Construction started on over 524 million sf of office, retail, warehouse, and industrial space around the nation last year.

California ($24.76 billion in direct construction spending), Pennsylvania ($16.17 billion), New York ($15.74 billion), and Florida ($9.26) round out the top five rankings. ​

Dallas Morning News
https://www.dallasnews.com/business/real-estate/2018/03/19/texas-topped-country-commercial-real-estate-development-2017Read more at {Source}

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