Has CRE Momentum Shifted to the Suburbs?
Has CRE Momentum Shifted to the Suburbs?
Was the Suburban Migration Purely a Pandemic Trend?
Migration from urban core underway before pandemic
Driven by aging millennials forming families
Fueled demand for single-family homes
Population Shift Already Being Felt
Suburban CRE has largely outperformed
Demographics to sustain trend
Companies adapting to tight labor market, jobs following employees to suburbs
Considerations for CRE Investors
Long-term trends will persist beyond health crisis; sustaining demand for many suburban properties
Urban revival underway, but gradual
Return-to-office plans could change with economy and job market
*As of 2022
Sources: Marcus & Millichap Research Services, U.S. Census Bureau, National Association of Realtors
