Why Office Campuses Have Become Outdated
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Muoio: “The office story is very market driven; there are some very strong and some weak markets.”
IRVINE, CA—Many older office campuses were each created to serve the needs of a single large company. With firms reducing their footprints, many campuses will only survive if redeveloped, Auction.com’s chief economist Peter Muoio tells GlobeSt.com. The firm recently released a report that showed the office recovery is still sluggish. We spoke exclusively with Muoio about the reasons for the slow recovery of this sector and about national office trends.
GlobeSt.com: How much has the fact that companies are trying to reduce their office footprints led to the sector’s sluggish recovery?…
