How 3 Texas Cities Came To Lead The Nation In Empty Offices — And Why There May Be Further To Fall

Vestiges of the pandemic continue to grip the office market, and four years later, hopes are fading for a return to normal. In a state where higher-than-average vacancy rates are accepted as the cost of doing business — and build, build, build is the norm — a Texas-sized threat now looms over three of its largest metros.

The Lone Star State’s economy was one of the first to reopen after the onset of the pandemic, and its leaders were quick to trumpet a big comeback a year later. Office occupancy rates rose swiftly, and the state continued its streak of piling up corporate relocations.

But the self-proclaimed leader of the return-to-work movement is now staring down some of the emptiest office buildings in the country. Houston, Dallas and Austin are the first-, second- and third-most-vacant office markets among the nation’s largest 50 metros, according to Moody’s Analytics...
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RSK: Milwaukee has the 5th highest Office Vacancy Rate, but I believe that is changing.