Only Texas scored higher in the recent NAIOP survey. When it comes to commercial real estate development, Arizona is the second highest ranking state in the U.S. for overall contributions of real estate to state GDP of $91.3 billion, $41.2 billion in direct spending, $37 billion in personal earnings, and 661,000 jobs supported in 2022.
Nationally, the impact of new commercial real estate development in the U.S. continues to grow.
The combined economic contributions of new commercial building development and the operations of existing commercial buildings in 2022 resulted in direct expenditures of $826.9 billion and the following impacts on the U.S. economy:
• Generated $831.8 billion in personal earnings.
• Supported 15.1 million jobs.
NAIOP’s Mark Selvetelli says commercial real estate will continue to be an economic leader, “The data in the report are strong economic indicators of commercial real estate development investment, job growth, and subsequential contributions to the U.S. economy.”
The post Arizona Ranks #2 in NAIOP State Rankings for CRE Development appeared first on Connect CRE.
Only Texas scored higher in the recent NAIOP survey. When it comes to commercial real estate development, Arizona is the second highest ranking state in the U.S. for overall contributions of real estate to state GDP of $91.3 billion, $41.2 billion in direct spending, $37 billion in personal earnings, and 661,000 jobs supported in 2022. …
The post Arizona Ranks #2 in NAIOP State Rankings for CRE Development appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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