Look Into the Future

There are nine metros that are gaining market share over drivable suburban locations and all rank high for future walkability growth, according to the GWU and LOCUS Foot Traffic Ahead report. Sure, Boston, New York, DC, San Francisco, and Seattle are on the list. But watch for Miami, Atlanta, Detroit, and Denver. The report says that except for Detroit, these cities have 25% or more rent premiums for walkable urban office space on a per SF basis versus their drivable suburban competition. This real estate cycle, in particular, transformed metro Miami and Atlanta—which have sprawled faster than most other metros for decades.

For one, the 84k SF Gateway Center Doral broke ground recently at 2000 NW 87th Ave in Doral, a submarket of Miami. High Street Retail USA co-founder Sharon Dresser, who's marketing the property for developer DBH Properties, says that the timing is right for the retail and boutique office development. About 12,000 residential units have been approved in the area, and Doral's way short on retail and restaurant space as part of its walkable neighborhood design. (Or rollerblade-able if that person in the rendering is to be believed.)

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Inside The Nationwide Jockeying For Opportunity Zones 2.0

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Data Center Spills 5,000 Gallons Of Fuel Into New Jersey River

Hines And Rialto Close Office Credit Fund At $1.1B

Chipotle Adding Hundreds Of New Locations Worldwide

'Beyond A Routine Wobble': 10-Year Treasury Clears 5% Ahead Of Key Fed Meeting

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Airbnb Launches $250M Fund To Invest In Affordable Housing

Brookfield Buys Minority Stake In Hyperscale Data Center Developer AREP

Judge Dismisses Suit Alleging Alexandria Misled Investors Over Portfolio Strength

How Companies Can Eliminate Shadow AI And Gain Value From Artificial Intelligence Tools