Big Cities See Big 'Donut Effect' Hollowing Out CBDs

However, there is a scaled down effect in mid-sized cities and next to nothing in small ones.

Since the start of the pandemic, there has been a lot of analysis about what populations and real estate have done in and around cities. For example, suburban office product has outperformed that in central business districts and the pattern held true for the first quarter of 2023. Suburban restaurants outperformed CBD locations because of low office utilization.

Not everything is quite so clearcut. There have been indications that suburban living has started to lose its appeal, particularly for single professionals.

Erik Sherman

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