MIAMI—Aging Millennials will move back to the suburbs, reversing the previous tide of urban living and working. So says David Rabin, managing director of Private Real Estate at CenterSquare Investment Management.

“This is an interesting shift in suburban demographics that will increase demand for suburban multifamily, which will outperform the high-end urban multifamily market, where rents have peaked due to excess supply and affordability challenges,” Rabin tells GlobeSt.com. “Well-located and properly amenitized suburban office will be another beneficiary as Millennials seek an urbanesque environment in the suburbs.”

Rabin also predicts shifting perceptions in big box industrial. As was the case with the enthusiasm that surrounded urban multifamily, he expects the appeal of big box industrial investment will begin to soften in late 2018. (Here's how lenders are targeting multifamily sector gaps.)