Industries Commercial Real Estate

Contracts for commercial construction way up in NOVA

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Citybizlist in Washington, D.C. reported Wednesday that contracts for future commercial construction in the Washington-Arlington-Alexandria metropolitan statistical area (MSA) reached nearly $390 million in July 2012,  a 22 percent increase over July 2011.

The data was based on a market report from McGraw-Hill Construction. The growth in construction for the greater D.C. area follows a trend for the first two quarters of 2012. During that time, contracts were up to nearly $2.38 billion, a 10 percent increase over the first two quarters of 2011, which totaled about $2.15 billion.

McGraw Hill defines commercial construction as commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other non-residential buildings.

The area measured included Washington-Arlington-Alexandria, consisting of Arlington, Calvert, Charles, Clarke, District of Columbia, Fairfax, Fauquier, Frederick, Jefferson, Loudoun, Montgomery, Prince Georges, Prince William, Spotsylvania, Stafford and Warren in Maryland, District of Columbia and Virginia.

 

 


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