Growth in the domestic energy industry is driving heated demand for prime real estate, predominantly in a handful of cities where the oil and gas industry is booming. That growth is expected to create more than 3.5 million American jobs by 2035, including 700,000 in the next two years alone.
While energy production is the direct growth driver, much of the commercial real estate demand is coming from affiliated industries and thus driving growth in office, retail, industrial and multifamily demand.
New research from Jones Lang LaSalle (JLL) indicates that the majority of commercial real estate opportunities resulting from this job growth will be concentrated in Dallas, Denver, Houston, Philadelphia and Pittsburgh.
Read more...A Shale Game: Energy Industry Triggers Demand for Prime Real Estate - CoStar Group
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