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This is an office sector market report published by CBRE on March 31, 2026, presenting Q1 2026 figures for the Vancouver commercial real estate market.
Pittsburgh's office market in Q1 2026 experienced a marginal increase in overall vacancy to 17.4% amid year-to-date net absorption losses of 251,400 square feet, with asking rents at $25.77 per square foot across all property classes. Despite elevated vacancy, Class A space in the Central Business District remains in high demand with limited supply, enabling landlords to maintain pricing power and achieve 6.3% rent growth since the 2024 bottom, while expansion activity by tenants suggests some correction of earlier aggressive downsizing decisions.
This is a market report on the Montreal office sector published by JLL on March 31, 2026, covering Q1 2026 conditions. The report addresses office market dynamics in Montreal, Quebec, Canada.
The Avison Young Metro Vancouver office market report for Q1 2026 tracks market fundamentals including a vacancy rate of 11.8% (down from 12.4% in Q4 2025), 8.0 million square feet available, $55.11 average gross asking rent per square foot, and 321,000 square feet of absorption in the quarter. Small and mid-sized tenants are driving leasing momentum particularly in the 3,000 to 8,000 square foot range, tenant requirements are becoming more function-focused, and elevated inducements remain central to leasing negotiations as the market gradually rebalances.
This is a market report published by JLL in March 2026 covering office sector dynamics in Toronto, Ontario for the first quarter of 2026.
This is a market report on the Pittsburgh office sector published by Colliers in Q1 2026, covering office market conditions in Pittsburgh, Pennsylvania with reference to broader geographic contexts including Philadelphia and national markets.
This is a market report published by JLL on March 31, 2026, covering office sector dynamics in Vancouver, British Columbia during the first quarter of 2026.
Pittsburgh's office market showed early signs of stabilization in 2025, with positive net absorption in the third and fourth quarters helping to reduce overall vacancy to 24.4% by year-end, while Class A rents remained flat at approximately $29.59/SF and Class B edged modestly upward to $22.57/SF. The local economy outperformed national trends with Pittsburgh's unemployment at 3.9% versus 4.4% nationally as of September 2025, job growth led by Education and Healthcare at 3.8% and Financial activities at 2.3%, though the market experienced zero speculative office construction in 2025 due to persistent high vacancy and rising construction costs.
This is a data and figures report published by CBRE on December 31, 2025, presenting office sector metrics for Oklahoma City in the second half of 2025.
Oklahoma City's office market in Q4 2025 showed a 29.6% overall vacancy rate with negative year-to-date net absorption of 305,000 square feet and an asking rent of $19.18 per square foot, supported by strong economic fundamentals including 2.9% unemployment, 18% metro population growth since 2010, and diversification beyond energy into aerospace, technology, and manufacturing sectors. The market outlook indicates a shift toward smaller, high-quality spaces concentrated in North and Northwest submarkets, with tenant improvement allowances nearly doubling to $75–$100 per square foot for shell space and adaptive reuse projects converting office buildings to residential uses expected to help reduce vacancy pressures.
New Jersey's office market recorded its third consecutive quarter of positive net absorption in Q4 2025, with 758,000 square feet of year-to-date gains and an overall vacancy rate of 21.9% (16.4% using the median vacancy rate metric), while asking rents remained flat year-over-year at $32.33 per square foot. Northern New Jersey drove momentum with 1.6 million square feet of annual net occupancy gains and a declining vacancy rate, though Central New Jersey faced headwinds from major tenant departures including Sanofi's 467,149-square-foot sublease listing and MetLife's 400,000-square-foot exit in Bridgewater.
This is a market report published by Colliers on December 31, 2025, covering the office sector in Toronto, Ontario, Canada for the fourth quarter of 2025.
Northern New Jersey's office market recorded 1.9 million square feet of leasing activity in the first quarter of 2026, slightly below the two-year quarterly average of 2.1 million square feet, while the overall availability rate decreased 20 basis points to 22.7% driven by 240,846 square feet of positive net absorption. Key findings include sublease availability declining to 5.9 million square feet—the lowest level in six years—Class A office leasing accounting for more than 72.3% of overall activity, and overall asking rents averaging $32.12 per square foot with a 0.38% year-over-year increase, with Class A pricing at $35.29 per square foot representing a 9.3% premium.
Northern Virginia's office market recorded new leasing of 530,000 square feet in Q1 2026, down from 1.1 million square feet in Q1 2025, with overall vacancy rising to 24.0% and asking rents reaching $35.81 per square foot on a full-service basis. Class A assets captured 85% of new leasing and 95% of renewals, with Fairfax leading regional activity at 348,000 square feet of new leasing, while net absorption remained slightly negative at negative 27,000 square feet for the quarter.
This is a quarterly data report published by CBRE on March 31, 2026, presenting office sector figures for New Jersey in the first quarter of 2026, with coverage spanning northern New Jersey and national markets.
The Kansas City office market recorded 171,000 square feet of year-to-date net absorption in Q1 2026, with an overall vacancy rate of 18.7% and asking rent of $23.19 per square foot across all property classes. The market showed strong performance driven by large tenant move-ins at Crown Center and expected major occupancy of approximately 425,000 square feet at Aspiria later in 2026, though speculative development remains limited despite continued flight-to-quality trends favoring top-tier space.
The Richmond Office Market Overview for 1Q26 analyzes the Richmond metropolitan area's office sector, finding that the market experienced 89,000 SF of negative net absorption during the first quarter, ending with a 12.8% vacancy rate while rents increased 2.9% year-over-year to $23.52/SF. Major transactions included the sale of the Cox Road Portfolio (300,364 SF) and the Stony Point Portfolio (357,251 SF), while the region's economy remained strong with a 3.6% unemployment rate significantly below the national 4.4% average and office-using employment at 188,100 employees, 4.4% above pre-pandemic levels.
Richmond's office market in Q1 2026 showed overall vacancy declining to 11.5% (down 90 basis points year-over-year) with year-to-date net absorption of 119.7K square feet and asking rent at $23.35 per square foot, supported by sustained regional job growth including major expansions from Solstice Advanced Materials ($220 million) and Eaton ($50 million) that added over 300 jobs collectively. CBD Class A lease rates jumped 18.1% year-over-year as vacancy in that segment dropped 320 basis points, while speculative construction remained limited at 93,000 square feet of medical office underway, with redevelopment activity heating up including the Midtown 64 former Genworth campus project bringing over 200,000 square feet of modern office space online.
The St. Louis office market experienced a significant slowdown in the first quarter of 2026, with negative net absorption of 545,870 square feet and vacancy rising 140 basis points year-over-year to 15.0%, as tenants reassessed space needs amid hybrid work adoption and macroeconomic uncertainty. Average asking rental rates declined to $22.17 per square foot and are projected to remain flat throughout 2026, with limited new construction activity and only 231,870 square feet currently under development as landlords contend with liquidity constraints.
The 1Q26 Kansas City office market report by Newmark covers employment trends, leasing fundamentals, and transaction activity, finding that the region's unemployment rate stood at 3.9% in December 2025 (50 basis points below the national average) while nonfarm payroll employment remained flat at -0.3%, with construction and education-health sectors leading job growth while business and professional services posted the largest losses. The report documents strong leasing momentum with 463,336 SF of net absorption in the quarter and 1.1 MSF over the past four quarters marking the seventh consecutive quarter of positive absorption, vacancy declining to 15.2% (down 130 basis points year-over-year), and average asking rents at $22.87/SF projected to grow 2.50% to 3.25% by year-end 2026.
This is an office sector market report published by CBRE on March 31, 2026, presenting first-quarter 2026 figures and data for Baltimore, Maryland.
This is a market report published by Colliers in March 2026 covering the office sector in Richmond, Virginia.
This is a first quarter 2026 office sector data report published by CBRE covering Richmond, Virginia and national markets.
Cushman & Wakefield's Q1 2026 New Jersey office market report documents overall vacancy at 21.8% (50 basis points below year-ago levels), asking rents at $32.43 per square foot, and 371,986 square feet of negative absorption during the quarter, with Class A properties commanding an 11.5% premium and accounting for 59.7% of leasing volume. The state's labor market remained stable at 4.6 million jobs with education and health services posting 3.5% year-over-year growth, while Northern New Jersey vacancy declined 140 basis points year-over-year to 21.3% and Central New Jersey vacancy rose 80 basis points year-over-year to 22.5%, with demand concentrated in well-located, transit-accessible high-quality office buildings reflecting an ongoing flight-to-quality trend.
This is a market report published by JLL in March 2026 covering office sector dynamics in the St. Louis market during the first quarter of 2026.
This is a Q1 2026 office sector data report for St. Louis published by CBRE on March 31, 2026. The report presents figures and market data for the St. Louis office market within a national context.
Cushman & Wakefield's Q1 2026 MarketBeat report on St. Louis office markets finds that overall vacancy closed at 18.2% with 27,130 square feet of positive net absorption, while average asking rents declined to $21.90 per square foot year-over-year. Class A properties drove leasing activity, accounting for nearly 70 percent of the market's 526,232 square feet in new leasing during the quarter, with West County and Clayton submarkets recording the strongest demand despite continued pressure on rents across all property classes.
This is a data figures report published by CBRE on December 31, 2025, covering the office sector in New Jersey and related markets including Northern New Jersey, Philadelphia, New York, and national comparisons for the fourth quarter of 2025.
This is a market report published by Colliers in Q1 2026 covering the office sector in Cleveland, Ohio and national markets.
This is a first-quarter 2026 office market report for the Detroit metropolitan area published by Colliers. The report covers the office sector in the Detroit, Michigan market.
This is a data report published by CBRE on March 31, 2026, presenting office sector figures for Columbus, Ohio for the first quarter of 2026.
This is a data report published by CBRE on March 31, 2026 presenting office sector figures for Indianapolis in the first quarter of 2026. The report covers office market metrics for Indianapolis, Indiana and includes national context.
Cushman & Wakefield's Cincinnati Office MarketBeat for Q1 2026 reports that Greater Cincinnati's overall office vacancy rate stood at 25.6% with negative net absorption of 13 square feet, while the overall asking rent across all classes was $20.81 per square foot, representing a slight year-over-year increase. Key transactions included Taft Law's relocation and Paycor's occupancy of a newly constructed 44,000-square-foot headquarters, with leasing activity at 196,000 square feet down 34% year-over-year.
This is a quarterly data and figures report on the Kansas City office market published by CBRE in the first quarter of 2026.
This is a quarterly data and figures report published by CBRE on March 31, 2026, covering the office sector in Cleveland, Ohio with reference to national markets.
Las Vegas's office market recorded a 12.4% total vacancy rate in first quarter 2026 (down 30 basis points from year-end 2025), with modest net absorption of 206,410 square feet, while office-using employment totaled 238,000 jobs in December 2025, up 7.8% from pre-pandemic levels but down 2.2% year-over-year. The market faces headwinds from a sluggish housing sector, declining tourism, geopolitical tensions, and an empty construction pipeline with no new professional office projects delivered since 2024, though limited supply and steady renewal activity are expected to eventually drive moderate rent increases as Class A space continues to lease quickly while older inventory struggles.
This is a commercial real estate market report published by Colliers in March 2026 covering the office sector in Columbus, Ohio. The report represents first-quarter 2026 analysis and is part of broader national market coverage.
This is a data and figures report published by CBRE on March 31, 2026, presenting office sector figures for Cincinnati in the first quarter of 2026.
The Cushman & Wakefield MarketBeat report on Columbus office markets for Q1 2026 shows that overall office vacancy decreased to 23.1% year-over-year, with positive net absorption of 31,000 square feet and asking rents rising 4.2% to $22.45 per square foot across all property classes. Greater Columbus ranked in the top 10 of U.S. metropolitan areas for economic development projects with 83 total projects underway, while the regional unemployment rate stood at 4.2% as of Q4 2025.
The U.S. office market is showing a selective recovery with shrinking inventory and declining availability, but demand remains concentrated in highest-quality assets and strongest locations. Trophy and class A buildings command an average rent premium of approximately 50% over class B space, while leasing activity remains 21% below pre-COVID averages nationally, though some markets like Manhattan and San Francisco have returned to or exceeded pre-pandemic leasing levels.
Cushman & Wakefield's Q1 2026 Cleveland office market report indicates overall vacancy remained flat at 10.9% with net absorption of negative 481,804 square feet, reflecting continued tenant downsizing despite solid leasing activity, while asking rents declined slightly to $19.42 per square foot overall with Class A rents rising to $21.73 per square foot. Transaction activity in Q1 included 98 sales totaling 2.77 million square feet led by the 640,736-square-foot auction of 6300 Wilson Mills Road, and 197 leases totaling 638,599 square feet with 61 percent of deals under 2,000 square feet, concentrated among smaller tenants.
The Detroit office market in Q1 2026 recorded a 19.2% overall vacancy rate and positive net absorption of 328,000 square feet for a second consecutive quarter, with asking rents averaging $20.24 per square foot across all property classes. The Detroit Central Business District submarket saw the highest rent growth at 43.2% year-over-year to $35.80 per square foot, driven primarily by completion of the Class A Hudson's Detroit building where General Motors opened a 200,000-square-foot headquarters.
This is a quarterly data report on the Detroit office market published by CBRE in March 2026 covering Q1 2026 figures.
The document analyzes Detroit's office market in the first quarter of 2026, reporting a 21.5% vacancy rate with only 6,656 square feet of net absorption and leasing activity of 757,000 square feet across 173 deals, both falling significantly below the 25-year quarterly averages of 1.67 million square feet and 327 transactions. Key economic findings include Detroit MSA unemployment rising to 5.3% in January 2026 from 4.7% the previous month with year-over-year payroll employment declining 0.2%, while office-using employment fell from 539.4 thousand in September 2025 to 520.5 thousand in January, and average asking rent increased to $21.24 per square foot with 2.14% year-over-year growth.
Cushman & Wakefield's Q1 2026 Indianapolis office market report documents that overall net absorption reached 92,000 square feet with a 20.8% vacancy rate and asking rents of $21.83 per square foot, driven primarily by strong Class A tenant demand concentrated in suburban submarkets particularly Keystone. The construction pipeline remains at a five-year low with only 70,000 square feet under construction, while investor sales dominated transaction activity at 87.3% of the 400,000 square feet in office sales during the quarter.
This is a quarterly data and figures report published by CBRE on March 31, 2026, covering the office sector in the Salt Lake City-Provo market for the first quarter of 2026.
This is a first-quarter 2026 office market data report published by CBRE covering Las Vegas, Nevada, and related geographic areas.
The Minneapolis office market in Q1 2026 experienced a vacancy rate of 27.5%, declining 50 basis points year-over-year, with negative net absorption of 235,930 square feet driven primarily by Huntington Bank's 423,000-square-foot move-out, while asking rents held at $29.97 per square foot and leasing activity totaled 662,392 square feet with Class A assets capturing 63.7% of volume. Investment sales remained limited with selective repricing evident in downtown assets trading at nominal prices, though stabilized suburban properties like One Corporate Center II sold for $13.4 million, and the local unemployment rate stood at 3.8% in Q4 2025.
In Q1 2026, the Las Vegas office market recorded 12.5% overall vacancy, $2.35 asking rent per square foot, and 299,000 square feet of year-to-date net absorption, with the unemployment rate at 5.5% and 1.2 million jobs in the metro area. Class A vacancy declined 200 basis points quarter-over-quarter to 19.4% as tenants pursued suburban amenity-rich properties, Class B tightened to 11.2%, and limited future pipeline supply is expected to gradually constrain availability and support a more landlord-favorable environment.
This is a first-quarter 2026 office market data report for Minneapolis published by CBRE on March 31, 2026.
This is a market report on the Utah County office sector published by Colliers in the first quarter of 2026. The report covers office market conditions in the Utah County area within the Salt Lake City region.
The Portland office market in Q2 2026 showed stabilizing vacancy at 15.3% with positive year-to-date net absorption of 173,519 SF, though quarterly net absorption remained negative at -29,025 SF, while average asking rents declined 2.4% year-over-year to $29.16 PSF. The regional unemployment rate stood at 4.7% as of May 2026, and the market is expected to remain tenant-favorable in the near term with limited new construction in the pipeline.
This is a market report published by Colliers in March 2026 covering the office sector in Minneapolis, Minnesota.
Palm Beach County's office market recorded a 13.5% overall vacancy rate at the end of Q1 2026, down 50 basis points quarter-over-quarter, with Downtown West Palm Beach vacancy falling 340 basis points annually to 12.7% driven by occupancies at One Flagler. Net absorption reached 128,000 square feet year-to-date despite new leasing activity declining 20% year-over-year, while overall average asking rents rose 6.3% year-over-year to $54.20 per square foot with Class A rents reaching $64.78 per square foot, the fifth highest in the nation.
This Cushman & Wakefield report analyzes Salt Lake City's office market in Q1 2026, finding an overall vacancy rate of 23.0% (down 120 basis points year-over-year), 199,100 square feet of net absorption, and average asking rents of $26.39 per square foot across all property classes. Key findings include strong demand for Class A space (52% of 729,000 square feet in new leasing activity), no new office deliveries recorded, and significant supply constraints driven by ongoing adaptive reuse conversions that have removed approximately 957,000 square feet from inventory since Q4 2022.
This is a market report published by JLL in December 2025 covering office sector dynamics in the Minneapolis-St. Paul metropolitan area for the fourth quarter of 2025. The report examines conditions and trends specific to the Minneapolis office market during that period.
Portland's office market in Q4 2025 experienced elevated vacancy at 24.3% and negative net absorption of 1.6 million square feet year-to-date, driven by tenant downsizing and limited backfill, while asking rents held steady at $33.57 per square foot as landlords used increased concessions and tenant improvement allowances to compete amid declining employment and reduced hiring. Class A properties with modern amenities and sustainability features commanded stronger pricing, while older commodity office space faced greater competitive pressure, with leasing activity concentrated in newer buildings and suburban submarkets rather than the CBD and central core.
The Minneapolis-St. Paul office market recorded 4.8 million square feet in total leasing volume during 2025, representing over 4% growth compared to 2024, though remaining below pre-COVID levels. Q4 2025 showed total availability at 22.3% with negative net absorption of 1.5%, largely driven by Ameriprise Financial's full vacancy of the Ameriprise Financial Center, while the development pipeline remained conservative with no new office projects breaking ground that quarter.
Minneapolis-St. Paul's multitenant office vacancy rose to 24.7% in the fourth quarter, driven by mid-size tenant space reductions, though Boston Scientific's completion of a 400,000-SF Maple Grove campus partially offset losses. Market strength remains concentrated in select nodes like Edina and the West End, where well-capitalized landlords continue to leverage generous concessions to attract tenants amid below-average leasing activity.
Portland's office market experienced weakening fundamentals in the second quarter of 2025, with unemployment rising to 4.5%, office vacancy reaching a record high of 24.3%, and net absorption declining by 311,820 square feet despite modest job gains in education, health services, and information sectors. Average asking rents dipped slightly to $31.30/SF while leasing activity remained subdued, with tenants increasingly favoring affordable suburban submarkets over the downtown core, and no new office construction projects underway amid challenging market conditions.