Eighty percent of all the commercial office space that exists today was built in the 1980s. Much of that stuff is between 25-30 years of age now,” said James Hughes, dean of the Bloustein School of Planning and Public Policy at Rutgers University.
“What we’re seeing is both cyclical and structural. The cyclical aspect … that was the result of the recession,” said Carl Van Horn, director of the Heldrich Center for Workforce Development at Rutgers University.