Middle Market Digest: This Week in the South and Mountain Regions

Cushman & Wakefield released a study on how shifts in immigration policy could impact commercial real estate and corporate occupancy, specifically. Known as the RAISE Act, the proposed legislation would impose the following changes and limits: A reduction in total legal immigration during the coming decade. A change in how immigrants are prioritized and granted access to the US. A hard limit on the number of refugees allowed to enter the country each year (50,000). Further, since 2000 the number of foreign-born workers employed in the US has increased by 42%, with management/professional occupations representing the fastest-growing category during that time (+75%). An estimated 3.5 million foreign-born residents work in the management and business field, a main driver of office demand. “Certain industries such as ours are likely to be disproportionately impacted by these proposed changes,” noted Cushman & Wakefield’s Revathi Greenwood, Americas head of research. “Legal, foreign-born workers fill 31% of buildings/grounds maintenance jobs and a quarter of construction positions. Limiting their access into the US would exacerbate the shortage of workers these sectors already face.”—Lisa Brown

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