IRVINE, CA—The older members of the Millennialgeneration are beginning to have families, which is shifting theirpriorities. This is a wakeup call for the commercial real estateindustry, David Senden, a principal with KTGYGroup Inc., tells GlobeSt.com exclusively.

Millennials are having children,” says Senden.“The leading edge of this generation is in their mid-30s. Theircareers are in full swing, and babies are here. No longer is thelatest coffee shop or nightclub on their mind; rather, now it's allabout schools, parks and having the space to raise a family.”

For most, the inner city is not the place to be, Senden says.“It's not because they don't want to; it's because it's just toohard. Even though they may enjoy a short commute, have anestablished group of friends and really like their neighborhood,nobody is designing child-friendly places in the downtowncore—amenities are designed for the pre-child days. It's a loungeand a pool party, when what this group of Millennials really needis a crafts room and a splash park. It is a bar, when they reallywant yogurt. Developers say people with kids don'twant to live downtown—I think they are making it a self-fulfillingprophecy.”

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.