• U.S. job creation slowed in the second quarter of the year, and the paltry growth is keeping down the office sector of the construction industry, the National Association of Realtors said in a quarterly look at commercial real estate.
• The inability of smaller businesses to get loans to buy or lease space is an overall drag on construction because those businesses cannot fuel demand, Lawrence Yun, the organization's chief economist, says.
• Two brighter spots in the report are industrial and warehouse space that is responding to increasing imports and exports and multifamily housing, where rents continue to rise because of strong demand.

From the release:

Positive underlying fundamentals continue to support all of the major commercial real estate sectors, but a slowdown in job creation and ongoing tight loan availability has tempered growth in some areas, according to the National Association of Realtors® quarterly commercial real estate forecast. ...