#United States #Washington #commercial real estate #Economic Impact #BOMA International

The Economic Impact of America's Commercial Buildings

A recently published report by the Building Owners and Managers Association (BOMA) International has shed light on the substantial economic influence of the U.S. commercial real estate sector. Titled the 2026 Market Study: The Economic Impact of U.S. Commercial Real Estate, this research highlights that the operations of office, retail, and industrial buildings across 79 markets contribute an astounding $609.9 billion to the U.S. economy annually, supporting 3.9 million jobs.

Key Findings of the Study

The report unearthed several significant findings regarding commercial building operations:
1. Annual Expenditures: Approximately $274.9 billion in building operating expenditures feeds back into the national economic system, contributing nearly $344.4 billion to the country’s GDP.
2. Personal Earnings: Building operations lead to $219.4 billion in personal earnings, showcasing the direct benefits to individuals employed in these sectors.
3. Economic Multiplier Effect: The study reveals that for every single dollar spent on building operations, the wider economy sees a return of $2.22 in total economic output when considering direct, indirect, and induced economic activities.

The Role of Commercial Buildings

Kjersten Jaeb, Chair and Chief Elected Officer of BOMA International, emphasized the critical role of commercial buildings as economic engines within local communities. “Each building relies on a vast network of professionals to operate safely and efficiently, which underscores the immense significance of this ecosystem for the U.S. economy,” he stated.

A Shifting Real Estate Landscape

A notable trend highlighted in the study is the booming development of data centers. This category of construction is dramatically influencing overall office construction figures, with data centers accounting for nearly 46% (approximately $41.2 billion) of the $90 billion in private office construction nationally in 2025, compared to less than 5% a decade ago. Furthermore, traditional office construction, excluding data centers, consisted of around $48.4 billion in 2025.

Industrial construction rates are also historically high, with warehouse and manufacturing construction reaching about $274.2 billion in 2025. This represented a slight decline of 7.9% from the previous year, yet it remained over twice the levels seen in 2020, indicating robust growth.

Retail construction saw a rise to $47.1 billion in the same year, and early 2026 showed increasing activity. Additionally, the life sciences real estate segment is stabilizing following years of rapid growth, indicating a dynamic landscape in the U.S. commercial real estate market.

A National Economic Influence

The impact of commercial building operations extends far beyond the largest metropolitan areas. The BOMA’s 79 markets span 38 states, demonstrating that building operations bolster local economies of varying sizes across the nation. As per Mary Lue Peck, President and COO of BOMA International, the economic effects of commercial real estate transactions are not merely a transient phenomenon. Ongoing investments into the operation, maintenance, and enhancement of these buildings are continually generating economic activity that sustains jobs, businesses, and wages throughout the country, creating lasting influence.

Study Details and Conclusion

Conducted by the Business Research Division at the University of Colorado Boulder, the BOMA 2026 Market Study aims to grasp the financial impacts of office, retail, and industrial properties across 79 markets with additional insights into life sciences properties in select locations. Full details and state-specific analyses can be accessed at BOMA’s official website.

In conclusion, this study underscores the essential role that commercial buildings play in the economy, supporting millions of jobs and generating significant economic activity. As the sector adapts to new trends such as data centers, it remains a vital component of America’s economic framework.