Office space available for rent hits new record high
April 11, 2023 | Emily Peck | Axios Markets
Office space available for lease in the U.S. is at a record high, according to data from CoStar.
Why it matters: Remote work is already crushing the office market, and the data is a sign that the distress is going to get worse — vacancies, already at historic highs, will likely go higher.
Details: Looking at office availability is different from looking at office vacancy rates. Availability doesn’t just look at empty offices. It includes occupied office space where the tenant notified the landlord they won’t be renewing.
