About 65 percent of American adults now own a smartphone, according to Pew Research, and the cloud technology that services them has joined demand from the financial, technology, social media and health care sectors to drive up demand for data centers nationwide.
With less than 10 months to go until the $5.2 billion Panama Canal expansion opens in April 2016, U.S. ports are implementing almost $30 billion in dredging and infrastructure improvements to handle Post-Panamax ships. Secondary market ports are poised to gain more market share.
U.S. hotel industry metrics continued on a strong streak in the second quarter of the year, with increases in both occupancy levels and average daily rates (ADRs), as well as revenue per available room (RevPar) growth that hit double digits in some markets.
At a time when most office markets are seeing significant rent increases due to high demand from office space users, Houston’s office market has experienced its first negative absorption quarter in five years.
Preliminary reports for the second quarter show that office rents are experiencing strong, steady increases in most U.S. markets due to a lack of new construction and renewed hiring in the professional services sector.
Strong consumer spending and the rise in housing construction activity are currently the prime factors for the incredible rebound of the U.S. industrial real estate sector, and experts say as home buying continues to increase, so will demand for warehouse space.
Strong demand for office space is pushing up rents at class-A buildings in all the major U.S. cities, and times have become more challenging for tenants, though they still hold the power in many parts of the country.