US Office Outlook – Q2 2023

US Office Market Statistics, Trends & Outlook

July 24, 2023
  • Jacob Rowden

While office markets remain subdued by the lingering impact of remote work and a reversal of over a decade of historically low interest rates, signs have emerged that the U.S. office market is beginning to turn a corner and is tentatively on the cusp of a recovery. Tenants remain defensive, and continue to downsize office portfolios through large volumes of sublease space being added to the market, but improved leasing momentum across most markets led to the first quarterly increase in gross leasing activity in four quarters.

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