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1. • 24.8%

     • Post-pandemic, the U.S. office market recovery remains sluggish amidst higher economic uncertainty and slowing office-using employment growth. Office availability now stands at 24.8%, up another 20 basis points from last quarter with available sublease space of 173.7 million square feet (msf), the first quarterly decrease in two years.
     www.savills.us/research_articles/256536/357047-0

     Savills USA | State of the U.S. Office Market - Q4 2023

2. People also ask

   How much office space is being sold in the US?

   • Amid distressed demand for office space, transactions have maintained a steady pace in markets like Manhattan ($2.7 billion in office sales), Washington, D.C. ($2 billion), the Bay Area ($1.8 billion) and Dallas-Fort Worth ($1.1 billion).

   U.S. Office Rents Report September 2024 | CommercialEdge

   www.commercialedge.com/blog/national-office-report/

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   Which city has the highest vacancy rate in office space?

   • Seattle followed closely with 26.2% vacant office space, up 390 basis points compared to the previous year, while the Bay Area recorded a 25.3% vacancy rate, rising by 540 basis points year-over-year. In contrast, Los Angeles was the tightest office market in the West and the third nationally, with 16.3% available office space as of September.

   U.S. Office Rents Report September 2024 | CommercialEdge

   www.commercialedge.com/blog/national-office-report/

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   What is the availability rate for office space in 2024?

   • At the midway point of 2024, the overall availability rate for U.S. office space sits at 23.7%—comprised of a 20% direct availability rate and 3.7% sublet availability rate. The total figure remains nearly unchanged from Q1 2024 but marks a year-over-year increase of 40 basis points (bps).

   U.S. office market report - Avison Young

   www.avisonyoung.us/documents/d/us/q2-2024-us-office-report

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   How many square feet is available office space?

   • Direct available office space across the U.S. has reached a new peak of 1,013 msf—or over 1 billion square feet. This value has grown every quarter since Q4 2022. Sublet available office space across the U.S. has declined from last quarter, now at 186.4 msf.

   U.S. office market report - Avison Young

   www.avisonyoung.us/documents/d/us/q2-2024-us-office-report

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   How has office space changed since Q1 2020?

   • None of the U.S. office markets have seen a decrease in overall availability rate compared to Q1 2020. Direct available office space across the U.S. has reached a new peak of 1,013 msf—or over 1 billion square feet. This value has grown every quarter since Q4 2022.

   U.S. office market report - Avison Young

   www.avisonyoung.us/documents/d/us/q2-2024-us-office-report

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   Is the US office market at a critical juncture?

   • The U.S. office market is at a critical juncture. Following close to two years of pandemic-driven correction, signs of stabilization are emerging. In this report, we examine the national context and outlook before assessing current economic and real estate trends in 50 leading U.S. office markets along with their outlook for 2022.

   Top 50 US Office Markets | Colliers

   www.colliers.com/en/research/2022-q1-top-50-us-office-markets

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3. www.statista.com › office-real-estate-in-the-usOffice real estate in the United States - statistics & facts

   www.statista.com › office-real-estate-in-the-us

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   Jun 27, 2024 · Absorption of office space in the United States in the 4th quarter 2023, by market (in 1,000 square feet)

   • Office Real Estate in Canada

     Overview 7 Premium Statistic Asking rent per sf of Class A...

4. www.avisonyoung.us › d › usU.S. office market report - United States

   www.avisonyoung.us › d › us

   U.S. office market report. At the midway point of 2024, the overall availability rate for U.S. office space sits at 23.7%—comprised of a 20% direct availability rate and 3.7% sublet availability rate. The total figure remains nearly unchanged from Q1 2024 but marks a year-over-year increase of 40 basis points (bps).

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6. www.brookfield.com › news-insights › insightsThe Misunderstood U.S. Office Market - Brookfield

   www.brookfield.com › news-insights › insights

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   Feb 14, 2024 · High vacancy rates in the U.S. office market are misunderstood—while demand has partially diminished, the growing issue is with excess supply of dated, functionally obsolete office buildings and an undersupply of the highest quality offices.

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7. www.cbre.com › insights › figuresU.S. Office Market Recovery Continues - CBRE

   www.cbre.com › insights › figures

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   6 days ago · The prime office vacancy rate fell by 20 basis points quarter-over-quarter to 15.5%. Twenty-four of the 57 markets tracked by CBRE recorded positive net absorption in Q3. Manhattan led all markets with 3.4 million sq. ft. Average asking rent increased by 0.7% year-over-year, while average taking rent was unchanged.

8. www.us.jll.com › office-market-statistics-trendsU.S. Office Market Dynamics, Q3 2024 - JLL

   www.us.jll.com › office-market-statistics-trends

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   Oct 8, 2024 · The U.S. office market reached an important milestone in Q3—with the concurrent acceleration in leasing activity and slowdown of new supply, availability levels have begun to decline for the first time in over five years.

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9. www.colliers.com › en › researchTop 50 US Office Markets - Colliers

   www.colliers.com › en › research

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   Apr 5, 2022 · Following close to two years of pandemic-driven correction, signs of stabilization are emerging. In this report, we examine the national context and outlook before assessing current economic and real estate trends in 50 leading U.S. office markets along with their outlook for 2022.

10. www.commercialedge.com › blog › national-office-reportU.S. Office Rents Report October 2024 | CommercialEdge

    www.commercialedge.com › blog › national-office-report

    • Cached

    Oct 17, 2024 · Under-construction office space totaled 68.5 million square feet nationwide, of which only 9.3 million square feet broke ground this year. Office sales totaled $23.8 billion through September, with assets trading at an average of $171 per square foot.