Office Construction & Redesign Surge Continues Across the Nation

ATLANTA, GA

Construction Market Data Group (CMDG) describes the commercial construction market as a cyclical business. In 1985, for instance, the total square footage of completed office buildings was nearly six times what it is today; from 1992 to 1996 it was relatively flat. But, the future of office building construction, according to the group's market research, looks good. Figures indicate that the commercial market is "still in the positive part of its current cycle," and should remain so through the year 2002. CMDG stresses the existence of several regional office markets. Central Business Districts-- downtown areas across the nation where low interest loans and matching funds are available for renovation of buildings, streetscapes, urban plazas and landscape continue to dramatically improve the commercial market, and should continue to do so over the next few years Overall, CMDG projects an office growth rate of 3.2 through 2001, and the next "big boom" should begin in 2005.