News · Commercial Real Estate
Office Market 2026: Prime Space Scarcity as U.S. Completions Fall 75%
Short answer: JLL expects U.S. office completions to fall 75% in 2026; CBRE sees leasing surpass 2019 levels with a prime/secondary split. Sources: [1] [2]
Why is prime office getting scarce?
JLL reports U.S. office construction at an all-time low, with completions falling 75% in 2026 and most of the remaining pipeline pre-leased.
What about older buildings?
CBRE expects spillover demand to lift next-tier space, while non-prime assets offer room for creative deal structures and adaptive reuse, with tenant-favorable renewal terms.
Frequently asked questions
Why is prime office space getting scarce?
JLL reports U.S. office construction at an all-time low, with completions falling 75% in 2026 and most of the remaining pipeline pre-leased.
What happens to older office buildings?
CBRE expects spillover demand to lift next-tier space, while non-prime assets offer room for creative deal structures and adaptive reuse, with tenant-favorable renewal terms.
Where do these figures come from?
Every figure is attributed in the text and linked in the numbered Sources list (2 sources, with publication dates where available). Vendor figures are labeled vendor-reported.