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Photo of Scott Homa “There has been a seismic shift in workforce preferences to urban areas,” says JLL’s Scott Homa.

WASHINGTON, DC—There are a couple of clear correlations between submarket office fundamentals and transit accessibility. One is that vacancies tend to be lower—by an average of 370 basis points—and asking rents higher in these neighborhoods, and another is that new construction is concentrated in areas where mass transit is either available or is slated for delivery.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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