Another vote cast in favor of cities:
This may be the worst time in the past 25 years to own an office building in Northern Virginia...
Consider: More than one-third of all the office space along Interstate 395 is empty. Thirteen entire buildings sit completely empty along Route 28. In Rosslyn, the biggest building in the region hasn’t found a single taker...
...there is a surplus of buildings in car-centric locations so disliked by millennials that some wouldn’t be caught dead taking jobs there. Five years after the recession, the paradigm has shifted so swiftly that some of the aging suburban office parks may have to just be torn down.
“It is becoming apparent that some older buildings may never lease again,” said Nate Edwards, director of research at the real estate services firm Cassidy Turley.
I think it's also the case that decreasing demand for employees helps to push that slackening demand for office space. The Great Recession takes another victim!
ReplyDeleteMaybe if you have to work 3 jobs you don't have time to drive out the suburbs to sleep.
ReplyDeleteLet's tear up some expressways while we're at it, and cancel unnecessary road expansions--all.
ReplyDelete