Hunch - Is Suburban Office An Undervalued Asset Class?

[Scott Trench]

I posted this in another thread too, but I wanted to get some help from the community on this one. I am starting with a hunch at the highest possible level: 

- Urban office has been decimated and has a huge pile of vacancies. The pain is real and likely to linger. 

- No one is building office of any sort right now, and net new supply will be low for some time. 

- Prices reflect this pain in office

- Many high income earning millennials are, finally, moving to the suburbs. They do not want to work from home every day, but also do not want to make the long commute to the office.

Thus, it seems to me that there is good reason to believe that small office spaces, including for small local/regional firms, services firms, and co-working spaces near large suburbs will see a steady increase in demand with little net new supply for the next several years. 

Is this hypothesis worth exploring? Can anyone help me get started or point me in the right direction to research something like this?