30% of U.S. office buildings, valued at $1.1T, are obsolete

[C.]

Originally Posted by Crawford

I think it's far more likely that those 80's-era sprawl office parks are finished. They were already obsolete pre-pandemic. Now you need a nice, central, amenity-filled office environment. Some highway-adjacent 1980-era lowrise structure doesn't cut it.

My wife's firm, which was mostly in shitty sprawl office buildings, is ending its leases in these buildings and consolidating in higher end, more central buildings.

Exactly! And these shitty office parks are prime candidate to be redeveloped into a better street grid with much needed housing/mixed-use spaces.