Commercial real estate investment tops $24 billion

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Construction, operation and maintenance of commercial real estate properties accounted for more than 10 percent of Colorado’s total economic output during 2007.

Independent researchers commissioned by the Colorado chapter of the National Association of Industrial and Office Properties or NAIOP-Colorado, found that the state’s commercial real estate sector generated $24.3 billion in direct and indirect output in 2006, down slightly from previous years due to a downturn in construction.

One surprise statistic emerging from the study was that almost 70 percent of Colorado’s commercial real estate jobs, taxes and revenues come from maintaining, and operating existing office buildings, hotels and resorts.