Office demand hits bumps, but Q1 finishes up year over year: VTS, CBRE

Office demand hits bumps, but Q1 finishes up year over year: VTS, CBRE

The national market faced harsh conditions in the first two months of 2025, erasing year-over-year gains in 2024. A cooling labor market and return-to-office trends make future conditions unclear, the firms say.

Office leasing cools in first quarter of 2025 – NEOtrans

Greater Cleveland's office market in the first quarter of this year saw its second-lowest amount of leasing activity, as measured in square feet, in the last 16 years since the Great Recession. Only the fourth quarter of 2021, following the pandemic and the rise of remote working, saw less leasing activity locally since 2009.

Office Leasing is Slowing Down Due to Economic Uncertainty - Wolf Commercial Real Estate

Office leasing activity has shown signs of recovery in key markets and sectors in recent months. However, that momentum may be at risk as global economic instability and a potential trade war threaten to stall progress.   According to the VTS Office Demand Index, which measures early-stage office-leasing interest, the first quarter of the year showed signs of softening. While the index rose 4.6% year-over-year, monthly declines in January and Fe…