AGC's Data DIGest: November 12 – 18, 2013
Budget cuts hit federal, supplier demand for space; suburban, medical offices pick up
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Federal budget cuts are affecting demand for space by both the government and its suppliers. On Thursday, Lockheed Martin announced it “plans to close its operations in Newtown, Pa.; Akron, Ohio; Goodyear, Ariz.; and Horizon City, Texas; and four buildings on its Sunnyvale, Calif., campus….Since 2008, Lockheed Martin has…removed 1.5 million square feet of facility space….The facility closures announced today will further reduce the Corporation’s operational footprint by nearly 2.5 million square feet of facility space.” Also on Thursday, the Washington Business Journal reported, “In the past year, the federal government has shed roughly 831,800 square feet of space in an effort to downsize and move into more efficient buildings, according to Jones Lang LaSalle’s annual Federal Perspective report.” [node:read-more:link]