X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The pandemic is shaking up commercial real estate unlike any economic cycle we have ever experienced before, and the final shakeout is far from over. While the debate rages on about the nature of future office work – the work-from-home vs. get-back-in-the office model – the other emerging trend, the combination of an urban exodus with a surge in the suburbs, is clearly on, according to Jay Olshonsky, CCIM, FRICS, SIOR, President & CEO of NAI Global.

Olshonsky cited a portion of a recent presentation by CoStar Managing Director Robert Calhoun, CFA, at NAI Global’s (virtual) annual convention, in which Calhoun stated that data supports the notion that people are leaving cities in favor of the suburbs or secondary/tertiary locations, based on apartment rents. Rents are falling in urban areas and CBDs while rents are rising in the ‘burbs. CoStar owns apartments.com and based on the volatility in daily asking rents Calhoun is seeing, especially at the highest end of the market, he thinks the economy is heading for a K-shaped recovery.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

More from this author

 

GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.