AZBEX
Office, shopping center, warehouse and hotel construction will increase 11% in 2016, up from the 4% gain estimated for 2015, with office development resuming its historical role as the leader in the commercial building upturn, according to the newly released 2016 Dodge Construction Outlook.
Multifamily construction dollar volume, meanwhile, is forecast to increase 7% on a 5% increase in built units to 480,000 – somewhat slower than the gains in 2015, but still growth – with the ongoing development wave extended by low vacancies, rising rents and the demand for apartments from millennials, according to the report released by Dodge Data & Analytics.
