More Office Space Removed Than Built in U.S. for First Time Since 2000
Allwork
JUNE 3, 2025
Construction and financing costs remain elevated, and tariffs are adding pressure on larger projects. million square feet in 2018 to 25 million in 2024, according to CBRE. Whelan said downtown areas are shifting toward mixed-use development, as cities aim to bring more retail, restaurants, and housing to their cores.
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