In the current Covid-19 pandemic situation where work-from-home has become a new normal, the \u201cUrban-Suburban\u201d offices located at a walkable distance from housing and retail are doing better than the purely urban or purely suburban offices.
\nThis trend of urban-suburban offices is not new, but the rise in remote-work due to Covid-19 pandemic situation is making it grow. Employees who are not working from home may prefer office space situated closer to their residences rather than face long commutes into urban downtown locations.<\/p>\n
The temptation of higher commercial rents in the major urban markets like San Francisco and New York City has attracted large institutional investors there. But due to accelerating trend of remote work, middle-density, urban-suburban offices have begun garnering more attention, especially in the industries requiring more options for separating from their single urban destinations. Finance and tech are the examples of such industries.<\/p>\n
Due to lower population densities, suburbs nearby the cities with recently developed downtowns can do well in attracting younger, family-oriented millennials. Best examples of transformed suburbs having additional density and amenities are downtown Chandler near Phoenix , Cherry Creek near Denver, Carmel near Indianapolis and St. Louis Park near Minneapolis.<\/p>\n
In the long run this advantage which urban-suburban offices have at present may not be there, but a less competitive shadow inventory is provided by the discrepancy in the sublease inventory.
\nDue to thriving suburban cores, the old suburban corporate campuses may struggle.
\nFor the long term it might be a wise decision to wait and enter such markets. People\u2019s location preference, previously established mixed-use areas and the new norms of office use prove this to a large extent.<\/p>\n","protected":false},"excerpt":{"rendered":"
In the current Covid-19 pandemic situation where work-from-home has become a new normal, the \u201cUrban-Suburban\u201d offices located at a walkable distance from housing and retail are doing better than the purely urban or purely suburban offices. This trend of urban-suburban offices is not new, but the rise in remote-work due to Covid-19 pandemic situation is […]<\/p>\n","protected":false},"author":1,"featured_media":374,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[128],"tags":[],"class_list":["post-338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"acf":[],"yoast_head":"\n