R.I. ranks No. 48 for commercial real estate development spending

ACCORDING TO A REPORT by the Commercial Real Estate Development Association Research Foundation released Oct. 7, Rhode Island's commercial real estate development spending in 2012 ranked No. 48 in the country, with total expenditures of $71.8 million. Massachusetts ranked at No. 7 overall, with direct spending of $1.8 billion in 2012. Active projects in the Ocean State include the Arcade, whose conversion into micro-loft apartments and retail space has been estimated to cost $7 million.  / PBN FILE PHOTO/TRACY JENKINS
ACCORDING TO A REPORT by the Commercial Real Estate Development Association Research Foundation released Oct. 7, Rhode Island's commercial real estate development spending in 2012 ranked No. 48 in the country, with total expenditures of $71.8 million. Massachusetts ranked at No. 7 overall, with direct spending of $1.8 billion in 2012. Active projects in the Ocean State include the Arcade, whose conversion into micro-loft apartments and retail space has been estimated to cost $7 million. / PBN FILE PHOTO/TRACY JENKINS
PROVIDENCE – Direct spending on commercial real estate development in Rhode Island in 2012 ranked among the lowest in the country, according to a report by the Commercial Real Estate Development Association Research Foundation released Oct. 7. Rhode Island’s total expenditures of $71.8 million landed the Ocean State at No. 48 in the report’s ranking…
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