Commercial Real Estate Operations Generate Over $609 Billion in U.S. Economic Output
BOMA International’s 2026 Market Study estimates that commercial real estate operations generated nearly $610 billion of economic output in the United States from operating expenditures totaling $274.9 billion in 2025. The study covers office, retail, and industrial properties across major U.S. markets, representing approximately 35.4 billion square feet. These operations supported around 3.85 million direct and indirect jobs and contributed significantly to GDP and personal earnings. The economic impact is amplified through multipliers: each dollar spent on building operations generates $2.22 in total output, with higher multipliers for GDP (2.33) and labor income (2.02). Major metropolitan areas like New York, Los Angeles, Boston, Washington D.C., and Chicago accounted for the largest shares of this economic activity. The report also highlights a shift toward data center construction within office categories, which now accounts for nearly 46% of such projects in 2025. Traditional office construction has declined while warehouse and manufacturing sectors have seen significant growth.
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Topics: BOMA International building operations commercial real estate economic impact