The Dallas Morning News

Texas 2nd in outlay on commercial real estate

- Steve Brown

For the second year in a row, Texas was behind only New York in total commercial real estate spending in 2016.

Commercial property constructi­on expenditur­es topped $18.5 billion in the Lone Star State last year. And developmen­t supported 310,994 Texas jobs, according to a report by the NAIOP Research Foundation, a commercial real estate study organizati­on.

New York state had $24.8 billion in direct commercial real estate spending last year. California was third, with $14.3 billion. 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 in the country in retail and entertainm­ent spending, with $4.1 billion in constructi­on last year. It ranked second for office developmen­t ($8.4 billion) and warehouse constructi­on ($3 billion).

Newspapers in English

Newspapers from United States