Reports of the demise of major cities' in the wake of COVID-19—and a resulting surge in suburban office—are greatly exaggerated.
Activity in the national office market remains robust in Downtown areas, and such locations still are preferred by many corporations, according to new research from Newmark Knight Frank.
In fact, suburban office markets are lagging behind downtown areas in popularity. During the second quarter, the national office market's negative absorption in suburban and exurban submarkets came in at 60.2% while Central Business Districts only suffered a 39.8% loss of occupancy.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
