Aging Millennials Drive Suburban Commercial Real Estate Demand

Was the Suburban Migration Purely a Pandemic Trend?

•Migration from urban core underway before pandemic

•Driven by aging millennials forming families

•Fueled demand for single-family homes

Population Shift Already Being Felt

•Suburban CRE has largely outperformed

•Demographics to sustain trend

•Companies adapting to tight labor market, jobs following employees to suburbs

Considerations for CRE Investors

•Long-term trends will persist beyond health crisis; sustaining demand for many suburban properties

•Urban revival underway, but gradual

•Return-to-office plans could change with economy and job market