This is certainly the conventional wisdom for what’s to come over the next couple of years. Today I saw an article on Reuters that sealed it for me.  Pictured above is Sam Zell (not exactly a household name) who’s Equity Office Properties was sold to a huge private equity firm just before the beginning of the mortgage meltdown.  Zell said the following:

“This is not a time to own commodity (office buildings) in the suburbs,” said Zell, speaking at the DLA Piper Global Real Estate Summit in Chicago. “If there’s going to be a diminution of demand for office space, it’s going to be out there.”

He went on to say that he thought the only the nicest downtown office buildings will fare okay.  Something to certainly keep an eye on if you’re planning to move your company within the next year.