Office
National Office Sales Volume at $25 Billion Through the First Three Quarters of 2023
The average sale price per square foot fell 21% Y-o-Y, with properties trading at an average of $198 per square foot through Q3 2023.Â
Office Vacancy Rates Continue to Rise Despite Return-to-Office MandatesÂ
The U.S. office vacancy rate reached 17.5% at the end of August, rising 260 basis points over year-ago figures.
Loans on Nearly 1 in 5 Class B Offices to Mature Soon. Where Are the Hotspots? Â
Loans on 18.1% of Class B assets — encompassing 594.2 million square feet — will reach maturity by the end of 2026.
Life Science Sector Cools but Still Represents Nearly One Third of Under-Construction Office Space
As office construction continues to cool, a quarter of under-construction office space is now concentrated in just 6 life-science-heavy markets.
Adaptive Reuse is Trending Upward: Despite Recent Slowdown in Office Conversions, 120,000 Apartments Underway
Last year, the number of office conversions experienced a 15% slowdown, resulting in just 3,390 apartments.
U.S. Office Sales Total $14.8B Halfway Through 2023Â
From January to June of this year, office properties have been trading at an average price of $199 per square foot.
Exposure to Remote Work Puts Uneven Strain on Tech Markets
Remote work is yet another challenge disproportionately impacting tech markets, pushing up office vacancy rates.
With Distress on the Rise, How Worried Should We Be?
Rising interest rates have pushed loan coupons higher, lenders are cutting back to varying degrees and property fundamentals are weakening.
Tech Sector Woes Continue to Put Pressure on Major Office MarketsÂ
In a challenging economic environment, tech companies continue to trim their office footprint, pushing up vacancy rates.
Q1 Records Only $6.5 Billion in Office Sales as Decreasing Demand Brings 66% Year-over-Year Drop
With so many headwinds impacting the sector, office landlords are faced with tough decisions as the future of offices remains unclear.
