The COVID-19 pandemic is unexpected and still rapidly developing globally which will impact the U.S economy and commercial real estate investments. The duration, scale and severity of the outbreak are still unknown. This report represents the views of Clarion Partners as of March 2020 and does not address any impact or potential impact of the pandemic.
Much of live-work-play occurs beyond the central business districts (CBDs) and downtowns of the biggest U.S. cities. Over 75% of those residing in the most populous metros live in the suburbs or exurbs.1 Most of the largest office and housing markets nationwide are, in fact, predominately suburban. In recent years, the boom in the urban fringes and suburbs that lie just outside of major U.S. cities has accelerated, in large part, because such places are generally an easy commute away from thriving cities or corporate outposts.2
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