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Investors Shine Light on Suburban Markets

NEW YORK CITY-A new report reveals investors are increasingly turning an eye to the suburbs where there are less land constraints and the permitting process is easier.

By Melissa Kress | Updated on September 08, 2006

(To read more on the debt and equity markets, click here.)

NEW YORK CITY-Although investors have traditionally looked toward downtowns across the country for their next deal, researchers with CB Richard Ellis were surprised to see their attention has turned to the suburbs.

According to CBRE’s 2006 Office Insight, a semi-annual report powered by Torto Wheaton Research, the mid-year report figures put approximately 63% of office inventory in the US in suburban markets, compared with 57% of office in downtown markets in Canada. Ward Caswell, CBRE’s US director of research, explains investors in the US like the suburbs because it is easier to build; there are less land constraints; and the permitting process is easier. In addition, companies like to build closer to where there employees live, a decades-old trend. “Toronto continues to be a downtown-centric marketplace because people there prefer a downtown environment, while Americans prefer the suburbs,” he tells GlobeSt.com.

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