The office sector continues to experience major shifts, with vacancy rates reaching a record 20.1% in Q3 2024—the highest jump since early 2021. This reflects the ongoing uncertainty in how companies balance remote and in-person work.
However, the impact of remote work isn’t as one-sided as many assume. 70% of Americans still prefer working fully or mostly in person, and this trend is even more pronounced among younger professionals aged 18-34, whose early careers were shaped by the pandemic. The demand for office space isn’t gone—it’s just evolving.
The key for investors? Cost basis. The office market is being repriced, and those who acquire properties at the right cost basis can reposition them for long-term success. The old model was about maximizing square footage; today, it’s about lean, efficient space that meets new workplace expectations.
For office owners, the question is whether to hold, sell, or reposition their assets for new uses. If you’re looking for a user to buy your office or want to assess where the opportunities are, let’s talk. The market is shifting—those who adjust will come out ahead.