Tenants may decide "Central Business District office space is not safe," Mercury Partners LLC managing director John R. Nikolich tells GlobeSt.com, and may opt for properties in the suburbs.
High vacancy rates and a glut of sublease space already make suburban properties financially attractive. But after Sept. 11, safety of employees is top priority.
"We expect businesses to start shying away from high-visibility trophy properties and look for more discreet locations, as they redefine how to take care of their most important assets, the people who work for them," says Equis Corp. President Michael Silver.
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