【CBRE】Prime Office Buildings Benefit from New Working Patterns & Tenant Preferences

• CBRE Research and CBRE Econometric Advisors have compiled a dataset of highly desired prime office buildings, representing 8% of total U.S. office space by square footage and 2% by building count.
• There is a growing divide in the U.S. office market between the performance of prime and non-prime buildings. The prime office vacancy rate was 14.8% in Q1 2024—4.5 percentage points lower than the non-prime vacancy rate. Prime buildings had positive net absorption of 49 million sq. ft. from Q1 2020 to Q1 2024, while non-prime buildings had negative net absorption of 170 million sq. ft.

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