Use of trophy properties is back near pre-pandemic levels on peak days, report shows
Owners of trophy office towers in big U.S. cities may have reason to feel like it’s 2019, the pre-pandemic time when workers pushed through crowded lobbies and elevators to log in for the day.
Class A+ buildings in major markets are exceeding 90% of pre-pandemic use on peak days, according to a midyear report from building security firm Kastle Systems. That use reaches 94% on Tuesdays, the top day for in-person work.
The report offers hope for landlords throughout the country that have struggled to overcome historically low demand for corporate space as remote and hybrid work habits have persisted more than five years since the onset of COVID-19.
It also highlights wide gaps between top-tier properties in the largest cities and the broader U.S. office market...
Class A+ buildings in major markets are exceeding 90% of pre-pandemic use on peak days, according to a midyear report from building security firm Kastle Systems. That use reaches 94% on Tuesdays, the top day for in-person work.
The report offers hope for landlords throughout the country that have struggled to overcome historically low demand for corporate space as remote and hybrid work habits have persisted more than five years since the onset of COVID-19.
It also highlights wide gaps between top-tier properties in the largest cities and the broader U.S. office market...
...more
RSK: This trend is national. Top tier office space is leasing up. It may make sense to build or remodel buildings in the near future as rents are driven up...
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- - Volume: 25 - WEEK: 24 Date: 6/10/2025 7:49:06 AM -