As the place where millions of people work remains flexible — a consequence of advanced technology accelerated by a global pandemic — there’s a sizable shift in the nature of work, its location and employment implications. Commercial real estate firm Graceada Partners identifies this trend, defines it, and explains the sweeping impact it will have on real estate, employers and cities in its new “Rise of the Outpost Economy” report.

Published at GlobeSt

Downtown high rises will decline in value by 10 to 15% as companies drive increased demand for office space in more dispersed secondary markets, according to a new report by Graceada Partners.

The big city flight continues—as millenials and generation Z work remotely. Young professionals prefer to live in smaller cities and buy their own homes.

Major metros with a booming economy, large talent pool and attractive cultural life used to dictate the pace of new trends and lifestyle choices across the U.S. The pandemic, however, has swept away the benefits of gateway cities and prompted residents to move to secondary markets, giving way to a more dispersed economy and employment base, or the “outpost economy” according to a report by Graceada Partners.