Scott Fish is managing partner of UP Development, a Tennessee-based developer focused on retail projects throughout the southeastern United States. With over 17 years of experience as a developer, Scott Fish guides his company in constructing retail centers on time and within budget.
According to experts, while the stock market will continue to be a roller coaster and foreign markets are even more unstable, real estate is projected to be one of the bright spots for 2016. For example, the real estate communications firm Taylor Johnson has predicted that 2016 will be a busy year for retail leasing and development activity.
Taylor Johnson expects the following trends in 2016:
-demand for off-price retailers like Nordstrom Rack and TJ Max,
-levitation to less-expensive Class B properties,
-newer, larger fitness centers,
-focus on environmentally friendly building improvements,
-increased foreign investment in the U.S. real estate market, and
-additional overhead and physical presence expansion for traditional online retailers
Contractors are gearing up for a busy year. From 2014 to 2015, the construction industry grew by 10 percent. Many developers are projecting similar or even higher growth for 2016. Regardless of an unsteady stock market and concerns over foreign affairs, the construction industry appears to have a high ceiling for continued growth through 2016.