The suburban office park is making a comeback

Andie Corban and Kai Ryssdal Dec 2, 2019
HTML EMBED:
COPY
A suburban neighborhood north of San Diego, California. David McNew/Getty Images

The suburban office park is making a comeback

Andie Corban and Kai Ryssdal Dec 2, 2019
A suburban neighborhood north of San Diego, California. David McNew/Getty Images
HTML EMBED:
COPY

Large, secluded office parks used to be the ideal American workplace. But over the last decade, younger workers have come to favor urban environments over the suburbs. In response, many suburban office parks are adding amenities like coffee shops and fitness facilities to attract workers.

“Marketplace” host Kai Ryssdal spoke with Amanda Abrams, who wrote about the trend for the New York Times.

“It’s a super tight labor market,” Abrams said. “So real estate can make a real difference. It doesn’t necessarily have to be downtown to have a lot of the things that people are looking for.”

The upgrades appear to be working. According to CBRE data, the suburban office vacancy rate in the United States is at its lowest level since 2001.

Click the audio player above to hear the interview.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.  

Need some Econ 101?

Our new Marketplace Crash Course is here to help. Sign-up for free, learn at your own pace.