{"id":45493,"date":"2025-09-23T08:32:16","date_gmt":"2025-09-23T05:32:16","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=45493"},"modified":"2025-10-21T08:34:53","modified_gmt":"2025-10-21T05:34:53","slug":"national-office-report-september-2025","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/national-office-report-september-2025\/","title":{"rendered":"Top-Quality Assets Continue to Drive Leasing Activity, While Few Markets See Construction Starts"},"content":{"rendered":"<p><span style=\"color: #0bbfeb;\"><strong>Key Takeaways:<\/strong><\/span><\/p>\n<ul>\n<li>The\u00a0<strong>national office\u00a0<em>vacancy rate<\/em>\u00a0was close to 18.7% in August,<\/strong>\u00a0following a modest decrease of 80 basis points year-over-year.<\/li>\n<li>The\u00a0<strong>national office\u00a0<em>listing rate<\/em>\u00a0averaged $32.63 per square foot<\/strong>\u00a0in August, which marked a 0.4% slip from the previous year.<\/li>\n<li>The office supply pipeline remained modest at the start of September with a little more than\u00a0<strong>40 million square feet of office space currently under construction<\/strong>.<\/li>\n<li><strong>Manhattan, N.Y., topped the list for YTD sales through August\u00a0<\/strong>in terms of dollar volume (nearly $5 billion), followed by the Bay Area ($3.4 billion) and Washington, D.C. ($3.1 billion)<\/li>\n<li><strong>Seattle; Austin, Texas; and San Francisco had the highest vacancy rates in August,<\/strong>\u00a0each above 25%.<\/li>\n<li><strong>Office asking rates in Manhattan, N.Y.,<\/strong>\u00a0<strong>and San Francisco<\/strong> were roughly double the national average, while Midwestern markets remained among the most affordable.<\/li>\n<li>The <strong>Boston office pipeline was the most active <\/strong>with nearly 5.6 million square feet of new office space under construction.<\/li>\n<\/ul>\n<h3><span style=\"color: #0bbfeb;\">Trends &amp; Industry News<\/span><\/h3>\n<h2>Office Sector Continues Reckoning with Low Occupancy<\/h2>\n<p>According to a recent Flex Index report, two-thirds of U.S. firms continue to offer attendance flexibility, largely in some form of hybrid work. As these options seem to have become an expectation in much of the corporate world, many offices are occupied far below capacity, more than five years since the start of COVID.<\/p>\n<p>But, while office utilization might not return to pre-pandemic levels, that does not bode the same across the entirety of the U.S. office sector. For instance, New York City is seeing the most leasing activity and highest demand of the last five years, while vacancy rates remain near record highs in most other large markets. High-quality properties offering a wealth of valued amenities in desirable locations continue to have an easier time stimulating higher occupancy.<\/p>\n<blockquote><p>\u201c<em>As physical occupancy rates remain stubbornly low in the 50-55% range, the uptick in activity and leasing demand that New York City has seen recently has failed to gain a foothold across most of the country.<\/em>\u201d<\/p>\n<p><strong>Peter Kolaczynski, Director, Yardi Research<\/strong><\/p><\/blockquote>\n<h3><span style=\"color: #0bbfeb;\">Listing Rates &amp; Vacancy<\/span><\/h3>\n<h2>Flight-to-Quality Continues to Drive Leasing to Class A Stock<\/h2>\n<p>The national average full-service equivalent listing rate for office space was $32.63 per square foot in August, which followed a slight correction of -0.4% year-over-year (Y-o-Y). Meanwhile, the national vacancy rate dipped 80 basis points (bps) compared to the previous year to reach 18.7% last month.<\/p>\n<p>For instance, in markets like Seattle; Austin, Texas; and San Francisco, where the supply pipeline could barely keep up with demand <a href=\"https:\/\/www.commercialcafe.com\/blog\/top-u-s-cities-add-682-million-square-feet-of-office-space-in-10-years\/\" target=\"_blank\" rel=\"noopener\">during the previous decade<\/a>, we\u2019re now seeing vacancy rates well above 20%. While tempting to chock it all up to remote and hybrid work, several transformational shifts ended up affecting the absorption of new stock in recent years.<\/p>\n<p>First, construction in the late 2010s was booming to stay ahead of the needs of a rapidly expanding tech sector. Then, after 2020, a relatively abrupt shift in tech sector priorities resulted in mass layoffs and investments being more concentrated in data centers for generative AI development than in hiring workers.<\/p>\n<p>Because few office markets are seeing new development and highly amenitized properties continue to do well with flight-to-quality tenants, the office sector will likely continue to reform toward keeping up with what tenants value most in order to draw higher occupancy overall.<\/p>\n<div id=\"datawrapper-vis-AcbNt\" style=\"min-height: 865px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/AcbNt\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-AcbNt\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/AcbNt\/full.png\" alt=\"Top Listings by Metro Area: August 2025 (Table)\" \/><\/noscript><\/div>\n<h3><span style=\"color: #0bbfeb;\">Transactions<\/span><\/h3>\n<h2>Office Prices Tick Up Y-o-Y, Dallas Sees Boost in Price\/Sq.Ft. Y-o-Y<\/h2>\n<p>Year-to-date office sales in August reached nearly $33 billion. Office properties changed hands for an average of $190 per square foot, which marked a slight increase in price compared to the same time last year, but still remained well below the nearly $280 peaks seen in 2019 office sales.<\/p>\n<p>Notably, Dallas saw the average sale price of office space increase to $240 in 2025 from $107 per square foot in 2024. Here, well-positioned office properties have attracted investor interest and drawn prices up in sales that made a splash in the market. One such example is <a href=\"https:\/\/www.commercialcafe.com\/blog\/the-link-at-uptown-dallas-office-tower-has-new-owner\/\" target=\"_blank\" rel=\"noopener\">the sale of The Link at Uptown<\/a>, which was acquired by Cousins Properties earlier this summer in one of the largest Dallas office sales in recent years.<\/p>\n<p>The property was completed in 2021 and incorporates more than 290,000 square feet of premium rentable office space across 25 stories. Designed to serve as a link between Uptown, Victory Park, and Downtown Dallas (as well as rich in highly desirable amenities), The Link\u2019s sale underscored investor conviction in best-in-class office assets. Reportedly more than 90% leased at the time of sale, the property commanded a sale price of $218 million.<\/p>\n<div id=\"datawrapper-vis-oTwF9\" style=\"min-height: 685px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/oTwF9\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-oTwF9\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/oTwF9\/full.png\" alt=\"2025 Year-To-Date Sales (Million) (Bar Chart)\" \/><\/noscript><\/div>\n<h3><span style=\"color: #0bbfeb;\">Supply<\/span><\/h3>\n<h2>Manhattan, West Palm Beach &amp; Dallas See Most Construction Starts<\/h2>\n<p>As of August, a little more than 40 million square feet of office space was under construction across major U.S. markets. According to Yardi Research data, this represented less than 1% of national stock and marks a persistent sluggishness in the new-construction pipeline. Meanwhile, construction starts totaled 10.7 million square feet so far this year (not including owner-occupied properties), while deliveries added up to 17.3 million square feet of new office stock through the end of August.<\/p>\n<p>Among the top markets surveyed by Yardi Research, Manhattan, N.Y.; West Palm Beach, Fla.; and Dallas saw the most construction starts this year. More precisely, projects totaling more than 2 million square feet broke ground in Manhattan during the summer \u2014 a significant boost in activity following a very slow two years in 2023 and 2024.<\/p>\n<p>During that same time, there were roughly 1.4 million square feet of <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/fl\/west-palm-beach\/\" target=\"_blank\" rel=\"noopener\">West Palm Beach office<\/a> construction starts, while Dallas was the third-most active market with nearly 1 million square feet of office breaking ground since the start of the year.<\/p>\n<div id=\"datawrapper-vis-dMVf7\" style=\"min-height: 661px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/dMVf7\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-dMVf7\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/dMVf7\/full.png\" alt=\"Office Space Under Construction (Million Sq. Ft.) (Bar Chart)\" \/><\/noscript><\/div>\n<h3><span style=\"color: #0bbfeb;\">Western Markets<\/span><\/h3>\n<h2>San Francisco Claims Highest Office Asking Rents, Seattle Tops Vacancy<\/h2>\n<p>Vacancy rates were above the national average of 18.7% in most of the Western U.S. markets we surveyed for this U.S. office markets report. For instance, in August, <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/wa\/seattle\/\" target=\"_blank\" rel=\"noopener\">Seattle office space<\/a> saw the highest vacancy rate in the region with a little more than 27% of space unoccupied. San Francisco was second in the region with vacancy here reaching nearly 26% in August.<\/p>\n<p>What\u2019s more, the northern California market topped the regional list for full-service equivalent rate with <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ca\/san-francisco\/\" target=\"_blank\" rel=\"noopener\">office space in San Francisco<\/a> asking a little more than $64 per square foot in August \u2014 nearly double the national average of $32.63. Nearby, Bay Area office space was the second-priciest in the region. Its asking rates averaged nearly $52 per square foot last month \u2014 the only other Western U.S. market where rates surpassed the $50 mark.<\/p>\n<div id=\"datawrapper-vis-suExo\" style=\"min-height: 500px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/suExo\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-suExo\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/suExo\/full.png\" alt=\"West Regional Highlights (Table)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p>Otherwise, Denver; Phoenix; and Portland, Ore., remained the only large markets in the region where office asking rates rested below the national average in August, each at around $29 per square foot.<\/p>\n<p>Notably, the top position in the region in terms of office sales was taken by the Bay Area, where transactions closed since the start of the year totaled more than $3.4 billion. <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ca\/los-angeles\/\" target=\"_blank\" rel=\"noopener\">Los Angeles office space<\/a> followed in second place with about $1.7 billion in 2025 sales through August. San Francisco and San Diego were the only other markets in the region to see year-to-date sales surpass the $1 billion mark last month.<\/p>\n<p>During that same time, the Bay Area also stood out when looking at sale prices: Office space here commanded the highest average sale price per square foot so far this year ($378). Here again, San Diego ($332 per square foot) and San Francisco ($312) were the only other markets in the region where office sales closed for more than $300 per square foot, on average.<\/p>\n<p>California markets were also in the lead for development last month. Namely, Los Angeles (2.1 million square feet under construction), San Diego (1.8 million square feet), and San Francisco (1.5 million square feet) were the only markets in this group with more than 1 million square feet of new office space in development as of the start of September.<\/p>\n<h3><span style=\"color: #0bbfeb;\">Midwestern Markets<\/span><\/h3>\n<h2>Twin Cities Office Space Sees Y-o-Y Uptick in Asking Rates<\/h2>\n<p>The top Midwestern U.S. office markets we analyzed were some of the most affordable in the country in August. This was evident in the data both in terms of average full-service equivalent listing rate and for-sale price per square foot.<\/p>\n<p>In this regard, <a title=\"Sagard Real Estate Teams Up With Canadian Pension Fund for U.S. Industrial Investment\" href=\"https:\/\/www.commercialcafe.com\/blog\/sagard-real-estate-canadian-pension-fund-joint-venture\/\" target=\"_blank\" rel=\"noopener\">Detroit office space<\/a> was the most accessible among them with asking rents averaging nearly $22 per square foot. Similarly, office space in the Twin Cities averaged $27 per square foot, following a year-over-year uptick of a little more than 2%. Chicago was the priciest in the region last month at nearly $28 per square foot.<\/p>\n<p>It\u2019s worth noting here that the vacancy rates for <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/il\/chicago\/\" target=\"_blank\" rel=\"noopener\">office space in Chicago<\/a> and in Detroit were above the national average of 18.7% in August. Back in Minnesota, occupancy levels in the Twin Cities last month kept vacancy here below 18%.<\/p>\n<div id=\"datawrapper-vis-9AhUS\" style=\"min-height: 320px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/9AhUS\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-9AhUS\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/9AhUS\/full.png\" alt=\"Midwest Regional Highlights (Table)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p>Chicago had the highest year-to-date office sales total in August, which is somewhat to be expected as it\u2019s the largest office market in the region. However, the $826 million worth of office space that sold in the Windy City since the start of the year changed hands for the lowest price among top markets in the Midwest \u2014 an average of $60 per square foot, which was well below the national average of $190.<\/p>\n<p>Additionally, construction in the region remained relatively low at the close of August with a little more than 1 million square feet of office space under construction across the Midwestern U.S. markets we analyzed.<\/p>\n<h3><span style=\"color: #0bbfeb;\">Southern Markets<\/span><\/h3>\n<h2>D.C. &amp; Dallas Top YTD Office Sales, Miami is Priciest Market in South<\/h2>\n<p>Of the Southern U.S. office markets we analyzed for this report, Washington, D.C. had the highest year-to-date sales total, by far: Office transactions closed here since the start of 2025 amounted to more than $3.1 billion through August. During that time, <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/dc\/washington\/\" target=\"_blank\" rel=\"noopener\">office space in Washington, D.C.<\/a> changed hands for an average of $187 per square foot.<\/p>\n<p>Dallas was the only other market in this group to have a sales total above the $1 billion mark during the first eight months of the year. To be precise, nearly $1.5 billion worth of <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/dallas\/\" target=\"_blank\" rel=\"noopener\">Dallas office space<\/a> changed hands here during that time for an average price of $240 per square foot.<\/p>\n<p>But, the priciest market in the region was Miami, where office properties sold for $250 per square foot, on average, since the start of the year. The south Florida powerhouse also came out on top in terms of leasing. The average full-service equivalent listing rate for <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/fl\/miami\/\" target=\"_blank\" rel=\"noopener\">office space in Miami<\/a> was nearly $56 per square foot \u2014 the priciest in the region this August.<\/p>\n<div id=\"datawrapper-vis-UkTFR\" style=\"min-height: 572px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/UkTFR\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-UkTFR\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/UkTFR\/full.png\" alt=\"South Regional Highlights (Table)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p>Austin, Texas, and Washington, D.C. were the only other markets in the group to see lease rates higher than $40 per square foot last month. <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/tx\/austin\/\" target=\"_blank\" rel=\"noopener\">Austin office space<\/a> asked an average of roughly $46 per square foot, while asking rates in Washington, D.C. averaged a little more than $41 per square foot in August.<\/p>\n<p>Then, looking at vacancy, Austin had the highest rate in the region in August (26.5%), followed by Dallas (22.4%) and Houston (20.2%). The three Texas markets were also the only ones among the Southern U.S. markets we analyzed to see vacancy above 20% last month.<\/p>\n<p>Data also showed Dallas, Austin, Miami, and Houston carrying most of the office pipeline in the region. Last month, nearly 2.8 million square feet of office space was in development in Dallas, and more than 2.4 million square feet was under construction in Austin. Next, Miami and Houston each had roughly 1.6 million square feet of office space in development last month \u2014 the only other markets in the region with more than 1 million square feet underway.<\/p>\n<h3><span style=\"color: #0bbfeb;\">Northeastern Markets<\/span><\/h3>\n<h2>Manhattan, N.Y., Pipeline Grows, Boston YTD Sales Surpass $1 Billion<\/h2>\n<p>In August, the <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ny\/manhattan\/\" target=\"_blank\" rel=\"noopener\">Manhattan office space<\/a> pipeline continued to pick up volume. Developers here had almost 3.4 million square feet under construction, which was a nearly 800,000-square-foot increase in construction activity from the previous month. \u00a0One notable recent construction start is BXP\u2019s 46-story tower at 343 Madison, which builds on the flight-to-quality momentum, as well as <a href=\"https:\/\/newyorkyimby.com\/2024\/11\/new-renderings-revealed-for-343-madison-avenue-in-midtown-east-manhattan.html\" target=\"_blank\" rel=\"nofollow noopener\">one of the best positioned<\/a> office development sites in the city.<\/p>\n<p>Nevertheless, Boston remained in the lead for supply in the region as office projects in development here totaled roughly 5.6 million square feet last month.<\/p>\n<p>Not to be outdone, office sales that closed in Manhattan since the start of the year added up to nearly $5 billion through August, which was the largest sales total both in the region and in the country. During that time, office properties traded here for an average of $528 per square foot, which also placed the Big Apple comfortably ahead of the rest for priciest office market in the country.<\/p>\n<p>Then, Boston was second-priciest in the Northeastern U.S. region with properties changing hands here for an average of nearly $160 per square foot since the start of the year. Notably, year-to-date transactions of <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ma\/boston\/\" target=\"_blank\" rel=\"noopener\">Boston office space<\/a> finally surpassed the $1 billion mark in August and made for the sixth-largest sale total in the country last month.<\/p>\n<div id=\"datawrapper-vis-1nPST\" style=\"min-height: 357px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/1nPST\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-1nPST\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/1nPST\/full.png\" alt=\"Northeast Regional Highlights (Table)\" \/><\/noscript><\/div>\n<p>&nbsp;<\/p>\n<p>Vacancy in the Northeastern U.S. markets we tracked was mostly below the national average of 18.7% in August. New Jersey was the only one to average slightly above that value.<\/p>\n<p>Of course, Manhattan asked the highest listing rates both in the region and nationwide. At nearly $68 per square foot, it was double the national average of $32.63. Not far behind, asking rents for <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noopener\">Philadelphia office space<\/a> rested slightly below the national average last month at roughly $31 per square foot.<\/p>\n<h3><span style=\"color: #0bbfeb;\">Office-Using Employment<\/span><\/h3>\n<h2>Decline Continues in Northern California Tech Meccas<\/h2>\n<p>A national look at office-using employment sectors showed a 0.1% increase on a year-over-year basis as total non-farm employment grew 0.9% in the same period. While this small motion of the national needle seems to indicate a steady state of affairs, zooming it to the metro level shows a much more dynamic situation.<\/p>\n<p>Speciffically, 14 of the top 25 markets we surveyed saw a year-over-year decline, most notably in San Diego, the Bay Area, and San Francisco. Primarily led by the professional and business services sector; the information sector; and the financial activities sector, this decline saw office-using employment drop by more than 2% Y-o-Y in July in each of the three California markets.<\/p>\n<p>Finally, it\u2019s worth noting that, in this particular area, a significant segment of the shift in employment stats likely has to do with the tech sector, where the pandemic hiring boom has since scaled back due to economic uncertainties and emerging automation technologies.<\/p>\n<div id=\"datawrapper-vis-oNO4L\" style=\"min-height: 913px;\"><script type=\"text\/javascript\" defer src=\"https:\/\/datawrapper.dwcdn.net\/oNO4L\/embed.js\" charset=\"utf-8\" data-target=\"#datawrapper-vis-oNO4L\"><\/script><noscript><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/oNO4L\/full.png\" alt=\"Office Using Employment: August 2025 (Stacked Bars)\" \/><\/noscript><\/div>\n<h4><span style=\"color: #0bbfeb;\">Methodology<\/span><\/h4>\n<p>This report covers office buildings that are 25,000 square feet or larger.\u00a0Listing rate and occupancy information was based on Yardi Research data.<\/p>\n<p><strong>Listing rates<\/strong> are full-service rates or \u201cfull-service equivalent\u201d for spaces that were available as of the report period.<\/p>\n<p><strong>Vacancy<\/strong> refers to the total square feet vacant in a market (including subleases) divided by the total square feet of office space in that market. Owner-occupied buildings are not included in vacancy calculations. For reporting purposes, A and A+\/trophy buildings were combined.<\/p>\n<p><strong>Stages of the supply pipeline:<\/strong><\/p>\n<p>Planned \u2014 Buildings that are currently in the process of acquiring zoning approval and permits, but have not yet begun construction.<\/p>\n<p>Under Construction \u2014 Buildings for which construction and excavation has begun.<\/p>\n<p><strong>Office-Using Employment<\/strong> is defined by the Bureau of Labor Statistics as including the sectors Information, Financial Activities, and Professional and Business Services. Employment numbers are representative of the Metropolitan Statistical Area and do not necessarily align exactly with CommercialCafe market boundaries.<\/p>\n<p><strong>Sales volume<\/strong>\u00a0and\u00a0<strong>price-per-square-foot<\/strong>\u00a0calculations for portfolio transactions or those with unpublished dollar values were estimated using sales comps based on sales that were similar in terms of the market and submarket; use type; location and asset ratings; sale date; and property size.<\/p>\n<p>Market boundaries in the CommercialCafe office report coincide with markets defined in the <a href=\"https:\/\/www.commercialcafe.com\/commercial-markets\/\" target=\"_blank\" rel=\"noopener\">CommercialCafe Markets Map<\/a> and may differ from regional boundaries defined by other sources.<\/p>\n<h4><span style=\"color: #0bbfeb;\">Fair Use &amp; Redistribution<\/span><\/h4>\n<p>We encourage and freely grant you permission to reuse, host, or repost the research, graphics, and images presented in this article. When doing so, we kindly ask that you credit our research by linking to CommercialCafe.com or this page so that your readers can learn more about this project, the research behind it, and its methodology. For more in-depth, customized data, please contact us at <a href=\"mailto:prinfo@commercialcafe.com\">prinfo@commercialcafe.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How did the largest office markets in the U.S. perform in August 2025? Read the highlights and deep dives on industry trends and insights in our full monthly U.S. office markets report. <\/p>\n","protected":false},"author":48,"featured_media":45417,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[42,4014,39],"tags":[],"class_list":["post-45493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-reports","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Office Market Report September 2025 | CommercialCafe<\/title>\n<meta name=\"description\" content=\"A national look at key trends across the largest office markets in the U.S. for vacancy rates, asking rent, and office space 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