In Iowa, the stability of the commercial real estate market gets indirect and direct economic boosts from the Iowa caucuses every four years, this is especially so in years where both parties are vying for a nomination. Years where this happens, as it is happening now, tend to encourage more candidates jockeying for position.
When the presidential candidates and the media travel through the state, there is an increase of short-term rentals of offices provide a direct boost for commercial real estate sector as well as increased hotel bookings. Because of this activity, and the long duration of the Iowa caucus season, investors are rewarded with larger income opportunities.
“We definitely get some income from the Iowa caucuses; there are no vacant spaces in our cities, and three presidential candidates are here every week,” says 2016 Iowa CCIM Chapter President Christopher Bogenrief, CCIM, president at United Commercial in Sioux City, Iowa.
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