WASHINGTON, DC—Construction cranes all but disappeared from the landscape during the depths of the downturn. In the summer of 2014, they're seemingly everywhere to be found, in a positive response to an economic recovery that's gradually gaining strength. Yet is this ramping up a prelude to overbuilding, as it has been in more than one previous cycle?

At present, the fundamentals generally support the ongoing construction activity, with the possible exception of one sector. That's among the key takeaways of a new Cassidy Turley report on the state of commercial real estate development across the US.

The report notes that while the current recovery is the slowest on record in the post-World War II era, there's an upside to this gradual pace. “The fact that there has been no major rebound in growth — no snapback, no surge — lowers the probability that the US economy faces the imminent threat of overheating, often the cause of the next recession.”