{"id":1004141312,"date":"2016-04-07T01:27:01","date_gmt":"2016-04-07T09:27:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141312"},"modified":"2022-12-02T20:02:10","modified_gmt":"2022-12-03T04:02:10","slug":"inaugural-naiop-sentiment-index-12-good-months-ahead","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inaugural-naiop-sentiment-index-12-good-months-ahead\/","title":{"rendered":"Inaugural NAIOP Sentiment Index: 12 Good Months Ahead"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Thomas<\/a>

Thomas Bisacquino, NAIOP<\/p><\/div>\n

Washington<\/strong>\u2014NAIOP<\/a>, the commercial real estate development association,\u00a0just released its very first Sentiment Index, which focuses on what the next 12 months will bring, and the news is good. The spring 2016 Index figure of 0.60 indicates that commercial real estate players expect positive market conditions to persist\u2014and possibly even improve between now and March 2017.<\/p>\n

Past performance does not play much of a role in the Sentiment Index; it\u2019s all about the future as anticipated by industry developers, owners and investors. And in a nutshell, Thomas Bisacquino, NAIOP president & CEO, told Commercial Property Executive<\/a>, the survey respondents\u2019 outlook is \u201cconfident, yet cautious.\u201d<\/p>\n

Among the big takeaways form the survey is the prediction of a rise in the cost of construction materials and labor; but on the positive side,\u00a0the\u00a0increases are smaller than those anticipated in NAIOP\u2019s beta test survey in September 2015. With -5 signifying much higher prices and 0 indicating unchanged pricing, the score for construction materials went from -2.10 in September to -1.55 in March, marking a 0.55-point improvement. The score for construction labor improved as well, going from -2.13 to -1.80.<\/p>\n

Additionally, per the Sentiment Index, decreases pertaining to debt, equity and employment are forecasted; however, there\u2019s no sense of panic among the respondents. They still anticipate continued access to capital, and expect equity to be reasonably available. As for jobs, survey participants envisage adding more\u00a0jobs, albeit at a slower rate.<\/p>\n

Another key finding involves face rents, effective rents and occupancy rates\u2014all of which will go on the upswing. The only change is the rate of increase. Face rents scored 1.45, compared to 1.75 in September\u2019s beta survey. The pace of growth in effective rents will also slow down. And occupancy rates will increase at a steady rate, although a supply\/demand equilibrium is on the horizon.<\/p>\n

Again relatively good news all around, and the respondents\u2019 forecast\u2014sunny with a chance of clouds, at some point\u2014is what NAIOP had anticipated. \u201cWe expected their sentiment to be positive\u2014this is an industry of entrepreneurs and risk takers. The industry is robust today, and its strength will propel it for the next year,\u201d Bisacquino said. \u201cTheir outlook is realistic, yet tempered with the knowledge that a slowdown is unavoidable.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The organization’s very first Sentiment Index brings good news for commercial real estate in 2016.<\/p>\n","protected":false},"author":969,"featured_media":1004141314,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,21783,23891,21742],"tags":[],"class_list":["post-1004141312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-investment","category-national","category-latest"],"acf":[],"yoast_head":"\nInaugural NAIOP Sentiment Index: 12 Good Months Ahead - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inaugural-naiop-sentiment-index-12-good-months-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inaugural NAIOP Sentiment Index: 12 Good Months Ahead\" \/>\n<meta property=\"og:description\" content=\"The organization's very first Sentiment Index brings good news for commercial real estate in 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inaugural-naiop-sentiment-index-12-good-months-ahead\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-07T09:27:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T04:02:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/Thomas-Bisacquino-NAIOP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"476\" \/>\n\t<meta property=\"og:image:height\" content=\"487\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Inaugural NAIOP Sentiment Index: 12 Good Months Ahead\",\"datePublished\":\"2016-04-07T09:27:01+00:00\",\"dateModified\":\"2022-12-03T04:02:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/\"},\"wordCount\":396,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/04\\\/Thomas-Bisacquino-NAIOP.jpg\",\"articleSection\":[\"Development\",\"Featured\",\"Finance\",\"Investment\",\"National\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inaugural-naiop-sentiment-index-12-good-months-ahead\\\/\",\"name\":\"Inaugural NAIOP Sentiment Index: 12 Good Months Ahead - 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