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NAIOP: Texas Topped Nation in CRE Development During 2017

Texas ended up being the top state for CRE development contributions to the economy. According to a recently released study from NAIOP, Texas commercial real estate development boasted more than $24 billion in direct construction spending, which contributed almost $59 billion to the state’s economy. In addition, the sector supports close to 380,000 jobs in the state.

The report noted that Texas also led the country in warehouse and retail development, though was beat out in the office sector by California.

Nationally, the commercial property sector supported 7.6 million jobs, contributing $935.1 billion to the U.S. economy in 2017. Construction began on more than 524 million square feet of office, retail, warehouse and industrial space.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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