It wasn't long ago when big city office skyscrapers anddowntown apartment towers offering the proverbial live-work-playlifestyle were the gem in real estate but now they are taking aback seat.
Residents increasingly are opting for secondary and tertiarymarkets over metropolises with companies and investors followingsuit. Smaller areas are boasting population growth and big companyrelocations, and they are taking a bigger bite out of allcommercial real estate deals, according to a Marcus & Millichapreport.
A market like Florida's Jacksonville is tertiary, Orlando issecondary and West Palm Beach primary. Texas' Austin is secondaryand San Antonio is tertiary, while Houston and the Dallas-FortWorth area are primary. Charlotte, Las Vegas, Nashville and Phoenixare secondary, while Salt Lake City is tertiary and theSeattle-Tacoma area primary.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
