Economic Impacts of Commercial Real Estate, 2016 Edition

By: Stephen S. Fuller, Ph.D.

Release Date: July 2016

Development and construction of new commercial real estate – office, industrial, warehouse and retail – continues to be a powerful contributor to the U.S. and individual state economies, supporting approximately 3.2 million American jobs and contributing $450 billion to U.S. GDP in 2015, according to a new report released by the NAIOP Research Foundation.

Read the press release.

Highlights from the “Economic Impacts of Commercial Real Estate, 2016 Edition” include:

  • Commercial real estate development supported 3.2 million American jobs in 2015 (a measure of both new and existing jobs).
  • Commercial real estate development contributed $450 billion to U.S. GDP.
  • There were 429.4 million square feet of commercial real estate space built in 2015, with capacity to house 1.1 million new workers.