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- Preferred Office Locations: Comparing Location Preferences and Performance of Office Space in CBDs, Suburban Vibrant Centers and Suburban Areas
Preferred Office Locations: Comparing Location Preferences and Performance of Office Space in CBDs, Suburban Vibrant Centers and Suburban Areas
Release Date: November 2014
Where do today’s office tenants want to be located? This comprehensive study, which combines expert opinion and accurate property-level data, provides reliable information about emerging location preferences across major U.S. office markets and the comparative performance of office space in CBDs, suburban vibrant centers — defined as amenity-rich, mixed-use, “live, work, play” locations — and typical single-use suburban areas.
Overall, office tenants show no strong preference for either downtown or suburban locations. Yet the study reveals a clear preference for suburban vibrant centers over typical single-use suburban office environments, and demonstrates that office properties in suburban vibrant centers are outperforming those in typical single-use suburban office areas on almost all metrics.
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Executive Summary (1-7)
Full Report without Appendixes (8-44)
Appendix A: Research on Location Preferences
Appendix B: Survey Questionnaire
Appendix C: Selected CoStar Market Areas
Appendix D: Research Methods for the Performance Analysis
Appendix E: Central Business District and Suburban Area Definitions
Appendix F: Second- and Third-Tier Office Market Comparisons
Appendix G: Suburban Vibrant Centers and Their Comparables
Appendix H: Vibrant Center Contacts
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