- January 1, 2014: Vol. 26, Number 1

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The CBD rides again: 20 years ago this magazine eulogized the moribund central business district, but it has since come back to life

by Steve Bergsman

1   “It was twenty years ago today… The brief line that begins The Beatles’ titular song from the album Sgt. Pepper’s Lonely Hearts Club Band is a good place to start a story on central business district revival because it was approximately 20 years ago that The Institutional Real Estate Letter published a front-page story titled, “The Death of CBD: Can Office Properties Survive?” But it is a good line for another reason. “Sgt. Pepper’s Lonely Hearts Club Band” is a baby boomer classic. And we all know what the baby boomers did. They moved to the suburbs. Skip forward a lifetime and the people in the workforce today are the children of baby boomers, known as “millennials,” and we all know what they are doing: reversing direction, eschewing suburbs and moving back into CBDs. “Now, the question I get the most is, ‘are the suburbs dead?&rsqu

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