Real Estate

Central business district ‘exodus’ may last two years

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The coronavirus pandemic is pushing businesses and dwellers out of city centers and downtowns into the outskirts in the short term, but demand can be expected to return to big cities, according to the head of the largest commercial real estate broker in the country.

Hessam Nadji, president and CEO of Marcus & Millichap, on Tuesday told CNBC that it will be a test for suburban areas to accommodate exponential demand. Suburban areas outside of major cities are in high demand, as people migrate from dense urban areas in response to the Covid-19 outbreak. 

“I think the next 18 to 24 months are going to show a lot of exodus out of central business districts, as you can expect,” Nadji said in…



Source cnbc.com

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