Reimagining Cities-Disrupting the Urban Doom Loop

TOTAL VALUE COMPOSITION BY GEOGRAPHY (CITY SIZE)

GATEWAYS

We also note that WalkUPs’ share of overall city value has diminished over time. Across all cities, these WalkUPs were 33% of all city value in 2017, but the recent decline has whittled their value down to the current 26.7%. secondary cities have more of their share in Downtowns than they do in other WalkUP types, holding 55% of their WalkUP value in just their Downtowns. This is partly because smaller cities tend to have fewer WalkUPs overall, and thus rely more on a single core Downtown than larger cities, which have larger Downtowns and more Downtown Adjacent and Urban Commercial areas. When zooming in to the WalkUPs themselves, we notice that moderate

100%

75%

64.4% 64.6% 68.7% 70.7%

50%

25%

0%

2017

2019 2021

2023

LARGE SECONDARIES

100%

75%

69.8% 69.2% 71.3% 72.7%

50%

25%

TOTAL VALUE COMPOSITION IN WALKUPS BY YEAR

0%

2017

2019 2021

2023

100%

7.7% 7.6% 8.3% 8.7%

MODERATE SECONDARIES

28.7% 28.7% 28.5% 29.2%

75%

100%

50%

28.6% 29.0% 29.4% 30.2%

75%

87.9% 87.4% 89.7% 90.7%

50%

25%

35.0% 34.6% 33.9% 31.9%

25%

0%

0%

2017 2019 2021

2023

2017

2019 2021

2023

Downtown

Source: Places Platform, LLC and Cushman & Wakefield Research estimates based on data from CoStar, CoreLogic, Cushman & Wakefield, U.S. General Services Administration, U.S. Department of Education IPEDS, U.S. Census Bureau, Property Shark, NCREIF and MSCI Real Capital Analytics

Downtown

Downtown Adjacent

Downtown Adjacent

Urban Commercial

Urban Commercial

Urban University

Urban University

Source: Places Platform, LLC and Cushman & Wakefield Research estimates based on data from CoStar, CoreLogic, Cushman & Wakefield, U.S. General Services Administration, U.S. Department of Education IPEDS, U.S. Census Bureau, Property Shark, NCREIF and MSCI Real Capital Analytics

Rest of City

38 Cushman & Wakefield