Office

Weak Demand, Still-Rising Vacancies Predict Downward Trend in Office Valuations   

By Evelyn Jozsa | February 20, 2024

The 2024 office market outlook suggests an increase in these discounted sales, driven by high rates and reduced demand.

U.S. Office Market Closes 2023 With $34 Billion in Sales, 60% Below the Volume Recorded in 2022

By Evelyn Jozsa | January 23, 2024

The U.S. office market has logged $33.8 billion in office sales for 2023, at a yearly average of $196 per square foot.

Office Utilization Plateaus at 50% to 60% of Pre-Pandemic Levels

By Evelyn Jozsa | December 19, 2023

Demand for office space is down, expenses are up and values have dropped, while maturing loans continue to pressure the sector.

Office Projects Face Delays, Cancelations as Uncertainties Linger

By Evelyn Jozsa | November 17, 2023

About 31 million square feet of new office space began construction in 2023, nearly half of the starts from the last two years.

CEdge Market Bulletin Nov23

Office Mortgage Maturities Signal Coming Distress

By Paul Fiorilla | November 9, 2023

The volume of loan maturities is concerning as weaker demand, rising costs and lower property values squeeze office owners while banks and investors reduce exposure to offices.

National Office Sales Volume at $25 Billion Through the First Three Quarters of 2023

By Evelyn Jozsa | October 19, 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. 

Office Report September 2023

Office Vacancy Rates Continue to Rise Despite Return-to-Office Mandates 

By Evelyn Jozsa | September 18, 2023

The U.S. office vacancy rate reached 17.5% at the end of August, rising 260 basis points over year-ago figures.

Class B Office Loans

Loans on Nearly 1 in 5 Class B Offices to Mature Soon. Where Are the Hotspots?  

By Evelyn Jozsa | September 7, 2023

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

By Eliza Theiss | August 23, 2023

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

By Evelyn Jozsa | July 25, 2023

Last year, the number of office conversions experienced a 15% slowdown, resulting in just 3,390 apartments.

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