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Article: The best and worst of times for the construction industry.(Industry Overview)
- Article from:
- Real Estate Weekly
- Article date:
- October 23, 2002
- Author:
CopyrightCOPYRIGHT 2002 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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These are the best of times and the worst of times for the construction industry as the economic downward spiral and stock market volatility continue unabated. For construction companies focused solely on corporate interior construction projects, this is undoubtedly a difficult period.
Declines in direct leasing, coupled with the vast amount of fully built sublease opportunities, have been the impetus behind a lack of corporate interior renovation projects. Firms would rather lease prebuilt office space than take on the added expense of a direct lease with new renovations.
In contrast, construction firms with experience in healthcare and education ...