High vacancy rates have driven building owners to repurpose space, which should help the U.S. office market’s recovery. But high costs and incompatible structural designs remain challenges, CBRE says.
Office conversions are becoming more popular across the U.S. as building owners work to repurpose vacant space amid record-high vacancies and cities seek to address housing shortages, Yardi said in its June 2025 National Office Report on Wednesday.
The average national vacancy rate remained high in May at 19.4%, down 30 basis points from April but up 160 basis points year over year, according to Yardi Matrix data...
The average national vacancy rate remained high in May at 19.4%, down 30 basis points from April but up 160 basis points year over year, according to Yardi Matrix data...
RSK: Office conversions and demolitions have helped to lower office vacancy rates....but the cost of conversions remains high.
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- - Volume: 25 - WEEK: 27 Date: 7/1/2025 12:54:59 PM -