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1. • 24.4%

     • Post-pandemic, the U.S. office market recovery remains sluggish amidst economic uncertainty and slower return to office. Office availability now stands at 24.4%, up 40 basis points from last quarter with available sublease space of 176.2 million square feet (msf) now at an all-time high.
     www.savills.us/research_articles/256536/350934-0

     Savills USA | State of the U.S. Office Market - Q2 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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   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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   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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   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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   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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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 rate of downtown and suburban office real estate in the United States from 2016 to 1st half 2023 (in million 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.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.

7. 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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8. 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.

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

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

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   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.

10. 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 · Key Takeaways. Demand recovery continues. Leasing activity maintained strong momentum from Q2, growing 0.4% quarter-over-quarter (QoQ) to 50.4 million s.f. Leasing over the past six months reflects 86% of pre-pandemic activity levels. Availability begins to decline.