CRE expected to perform well in 2022
Despite the fact that interest rates are projected to increase significantly this year, commercial real estate is expected to perform well and even strengthen in industrial and multi-family sectors, according to the National Association of Realtors. Meanwhile, single-tenant stores, neighborhood centers and strip centers are expected to drive growth in the retail market, GlobeSt reports.
Mack-Cali rebrands as Veris Residential, focuses on apartments
Shifting its focus to apartments, Mack-Cali Realty is rebranding as Veris Residential, which Chair Tammy Jones calls “an important milestone following the transformative steps the company has taken since the reconstitution of the board of directors.” The Real Deal
Pittsburgh International Airport breaks ground on $1.4B new tech-forward terminal
Pittsburgh’s airport of the future is officially under way. Officials broke ground on a new 700,000 square-foot terminal project, marking Pittsburgh International Airport as the first terminal in the country to be built from the ground up in a post- pandemic world Built with a focus on public health and technology, the new facility will […]
Expansion planned for Nashville Zoo in Tennessee
Work on a new “African Safari” exhibit at Nashville Zoo in Tennessee is to begin this fall. The 40-acre expansion project will include a walking path, a 12-minute boat ride, a restaurant and lodge, glamping tents and backstage tours. WKRN-TV
Have a Safe and Enjoyable Labor Day
From our Commercial Construction & Renovation family to yours, here’s to a great Labor Day. May the rest of the year be safe, successful and rewarding.
Construction industry adds adds 11,000 jobs in July
The construction industry added 11,000 jobs between June and July but nonresidential construction employment remains far below pre-pandemic levels, according to an analysis by the Associated General Contractors of America of recently released government data. Association officials said nonresidential construction has been affected by declining demand for projects, particularly for public infrastructure work, and urged […]