Urban 24-hour cities across the U.S. with global trade and cultural
connectivity such as New York City, Los Angeles, and Miami continue to
lead the nation in population and job growth - two key drivers for
healthy office leasing activity.
While the appeal of suburbia is by no means disappearing, urban
population growth has steadily continued to outpace that of suburbs
nationally during the past five years, according to U.S. Census data.
This is attributable to the increasing number of people across
generational groups - from millennials to baby boomers - choosing to
live in dense urban cities, opting for the live-work-play lifestyle, and
inevitably affecting office leasing in these markets.