Mike VanGessel
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President and CEO,
Rockford Construction
Company Inc.
From my perspective, we have been in a hyper-competitive construction market for a couple of years, and 2012 could be a year to settle into an improved market.
This has been caused by a major lack of capital for all markets. Now some capital seems to be loosening up as real estate has been purchased at great value allowing for good equity positions in several sectors.
Many sectors have taken advantage of absorbing and reproducing real estate. Industrial and manufacturing have had a growing need and have been a leader in reducing vacant square footage.
Education and its related uses, such as housing and fitness, certainly will have continued and growing needs, but (the sector) needs improved commitment from the state to prioritize financing.
Health care has demographics to its advantage, but public policy resolution is needed to truly allow the vision needed for reinvestment to take off once again.
Quality retail will be growing, but capital will still be challenging. Working and living in urban environments is no longer a trend and is desired by many generations. Housing, office, retail are all exciting sectors to be in.