Real Estate exclusive details Office space is now being razed or converted faster than it’s being built — for the first time in 25 years By Emily Davis Published June 5, 2025, 2:49 p.m. ET ...

CBRE found that across the largest 58 U.S. markets, 23.3 million square feet of space is slated for demolition or conversion to other uses by the end of this year. In comparison, developers are ...

Some agencies downsized their office space during the covid pandemic, as many employees moved to remote or hybrid work. Others had already granted telework arrangements to large numbers of workers ...

The General Services Administration is offering to help federal agencies find office space for their staffers by connecting employees in need of a workspace with departments that have extra room ...

The average asking rent for office space in downtown, known as the central business district or CBD, was $25.60 per square foot in the first quarter of 2025, according to data from Newmark.

Mattel signed a multiyear contract to lease the office space at 831 S. Douglas St. Mattel is planning to move its studio operations to a recently renovated 60,000-square-foot building by 2025.

Just 101,727 sq.ft. of office space was completed last year, primarily BestSelf Behavior Health’s new Main Street headquarters. In 2023, 385,000 sq.ft. of space was constructed.

Most future space cuts will likely come from federal properties around Washington, D.C., which accounted for nearly 60% of the reductions since 2012, according to Colliers.

As Sutherland has seen, costs continue to rise. "Demand is high, supply is low, and prices go up," Tasman said. Class A office space is going to cost $30-$40 a square foot to build right now, he ...