High office vacancy rates persist in major U.S. cities. San Francisco tops office vacancies at 34.2%, followed by Seattle at 30%.

The latest office vacancy rates for Q4 2024, as reported by Cushman & Wakefield, show a mixed picture across major U.S. cities. Here’s a quick rundown of the key highlights:

• Atlanta: 25.2%
• Austin: 29.8%
• Chicago: 25.1%
• Cincinnati: 26.1%
• Dallas: 26.2%
• Denver: 25%
• Houston: 25.5%
• Los Angeles CBD: 31.8%
• Minneapolis/St. Paul: 29.3%
• Oklahoma City: 26.5%
• Phoenix: 28.5%
• San Francisco: 34.2%
• Seattle: 30%

These figures reflect the ongoing challenges in the office market, with several cities experiencing high vacancy rates. The trend suggests that companies are still adjusting to the new normal of hybrid work and remote work arrangements, leading to reduced demand for traditional office space.

Sources:

https://x.com/FCNightingale/status/1881406635207499845

Source link