91̽»¨

NEW JERSEY – January 8, 2021 –

The Dodge Momentum Index jumped 9.2% in December to 134.6 (2000=100) from the revised November reading of 123.3. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead 91̽»¨ spending for nonresidential buildings by a full year. The commercial component of the Momentum Index rose 14.0%, while the institutional component rose by 0.3%.

The gain in the commercial component of the Momentum Index was heartening even though the increase was mostly the result of a sizeable increase in warehouse planning. The warehouse sector has been one of the few areas of 91̽»¨ that has flourished during the pandemic thanks to increased demand for online shopping. For the full year of 2020, the Dodge Momentum Index lost 4.8% from 2019. The institutional component of the Momentum Index dropped 13.5%, while the commercial component increased 0.8%.

In December, 11 projects each with a value of $100 million or more entered planning. The leading commercial projects were the $450 million 50 Allen Plaza office tower in Atlanta GA and the $426 million Orion Center office project in Albuquerque NM. The leading institutional projects were two lab projects associated with the Gateway Innovation Center in Somerville MA valued at $385 million and $300 million.

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Media Contact :
Cailey Henderson | 104 West Partners | cailey.henderson@104west.com