Tag: Surge
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DOGE Reforms Trigger Surge in Federal Construction Contract Terminations
The Department of Government Efficiency (DOGE) has launched sweeping reforms aimed at eliminating waste, streamlining procurement and reallocating federal funds away from underperforming or redundant programs. While DOGE’s mission focuses on government operations, government contractors – including in the construction industry – are feeling the ripple effects of the department’s actions. One of the most…
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Office Conversions Surge Amid Rising Vacancy Rates
Key Takeaways: The national office vacancy rate was 19.4% in May, up 160 basis points year-over-year, with occupancy unlikely to rise in near future The average U.S. office listing rate was $33.15 per square foot in May, increasing 4.8% year-over-year Office construction pipeline continued to shrink, with 41.5 million square feet of office space currently under construction Los Angeles…
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‘Unwelcome surge’ of project abandonments hits construction
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Project stress picked back up in March as rising uncertainty led more developers to abandon projects, according to the latest data from Cincinnati-based ConstructConnect. The Project Stress Index, a measure of construction projects that have been paused,…
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PCL ramps up manufacturing group for onshoring surge
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: PCL Construction has created a new collective that will help the company build large manufacturing projects across North America, in response to growing American and Canadian investments in reshoring production, according to a Jan. 27…
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Construction of Healthcare Facilities Expected to Surge in 2025 and 2026
As the demand for modernized and expanded infrastructure surges, one sector stands out with unprecedented momentum: healthcare facilities. Healthcare facilities are critical components of the nation’s infrastructure and from what can be seen in planning documents, it appears that almost every state and/or region in America is evaluating some type of healthcare-related upgrade. The obvious…