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Study: Northeast rates low on corporate relocation list.

Nearly 80 percent of companies surveyed across the nation have plans to expand or relocate, but the northern fares poorly in those relocation plans. Suburban office space will be in greatest demand, far exceeding the projected demand for central business district office space.

This is according to a joint study conducted by the professionals services firm of Ernst & Young's National Real Estate Advisory Services and the International Association of Corporate Real Estate Executives (NACORE).

In general, the study indicates that the recession appears to have magnified the importance of operating cost issues for companies -- even at the expense of much-touted quality of life issues. For instance, housing affordability no longer seems to be the burning issue it once was. Other findings of the study were: *Of northern metropolitan areas, only Washington DC's northern Virginia suburbs were named by the nation's corporate real estate executives as a top site for locating office facilities. However, Ernst & Young specialists can offer ideas for company incentives to encourage business to relocate or remain in the New York area. *Study participants expressed confidence in New York's ability to overcome current economic challenges. *The fact that three of the top five growth locations were in a region connected Interstate 85 (Raleigh-Durham and Charlotte, North Carolina south to North Atlanta) indicates that a "mega growth" corridor is forming in the Southeast.
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Title Annotation:suburban office space in greatest demand
Publication:Real Estate Weekly
Date:Jun 17, 1992
Words:224
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