All Hub, No Spokes: The Death of the Suburban Office

As the pandemic waned and in-person work resumed, there was widespread speculation about which office strategies would gain traction. Reports surfaced that cities with longer average commute times were seeing lower office attendance rates. Here`s an excerpt from the Wall Street Journal in May 2022: "The New York metropolitan area had the longest average commute...

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RSK: I think this all depends on the size of the metro area and varying degrees. Logistics still plays a major role and if there are suburban centers near the office parks, the office market will still be viable and a shorter commute is desirable. If they are isolated office parks and no urban services i.e. shopping, day care and retail, they will have more of a vacancy problem.