Commercial building is expected to make a 7% gain over 2015, according to Dodge Data & Analytics’ 2016 Construction Outlook. The Menlo Group and other experts from different construction sectors have great expectations for strong growth this year. Our hopes, while high, do face some challenges among the highlights that are trending for 2016.
Here are some of the expected trends in the commercial building industry this year:
- Popularity of Offsite Construction Methods
Offsite (or prefabricated) construction cuts down on construction time, waste and sometimes costs. This is also helpful in light of the following point about skilled labor.
- Skilled Worker Shortage Continues
A large majority of the labor that left or were laid off during the recession never returned. Commercial building construction companies struggle to find capable workers of every skill level.
- Construction Companies to Pick Projects Selectively
For the above reason, companies are being more cautious than in years past. Construction companies are not going to commit to more expansion than budgets can handle.
- BIM will Be a Must
Building Information Technology has been growing in popularity over the years. Industry experts say that BIM offers many business benefits regardless of the amount of implementation. BIM is recognized for improving consistency, accuracy, and efficiency in project document production. In turn, this makes for better collaboration and coordination among all who are involved in construction of a commercial building.
- Growth in Green Building
Green building has been around for a while. However, public demand is driving its growth in all markets. Larger construction companies are seeking LEED certification even when it’s not mandated.
- Laser Scanning Technology is on the Rise
3-D laser scanners have the ability to create a digital reproduction of the proportions and locations of objects in a space. As a result, the information gathered can be transformed into a point cloud image. This will allow contractors to show clients exactly where issues are in a particular part of a building.
While there are a few challenges that may present themselves in 2016, our team at Menlo Commercial Real Estate is optimistic about the possibilities available in the commercial building industry. If you’ve any questions about commercial building properties, our agents are here to answer them and help you make decisions that will benefit your business.