Electrical Wholesaling has released a ranking of the busiest commercial construction markets in the United States. As conducted by Dodge Data & Analytics, the Kansas City bi-state area falls at number 14 for the busiest market in the first six months of 2018.
However, the ranking also includes a more notable metric: the percent of change in the commercial construction market between 2017 and 2018. According to the electrical publication, Kansas City’s commercial construction market has grown 52 percent from 2017 to 2018. The only city to rank higher than KC is Boston.
It is no secret that Kansas City’s commercial real estate market has been growing leaps and bounds. This month, Ingram’s hosted a commercial real estate assembly. Co-chaired by Dan Jensen of Kessinger/Hunter & Co. and Zach Hubbard of Block Real Estate Services, the two were joined by an impressive lineup of commercial real estate experts.
While the commercial real estate market has been booming for a while, the panel of industry experts all agreed that the cycle has not yet run its course. In the report, Joe Orscheln of CBRE is quoted saying. “I think we’re really right around the eighth inning,” he said, likening the growth of the commercial real estate sector to a baseball game. “They’re saying we probably have 24 to 30 months of run time. I’m hoping the e-commerce trend will get the industrial guys in Kansas City through the downturn,” whenever it comes.
For a full assembly report and to read more on projections for the commercial real estate market, visit this story.