Empty Space: Office Building Prices Drop Across Major US Cities

Posted on AllSides August 24th, 2021
From The Center

Prices for office buildings across the United States remain low after eighteen months of the COVID-19 pandemic, including in its most expensive cities.

According to a new report from real estate data firm CommercialEdge, average sale prices dropped to $284 a square foot on office buildings in central business districts nationwide this year. This comes after prices hit a peak of $400 a square foot in 2019 and $379 in 2020.

Despite the dip in price, CommercialEdge, which produced its analysis after examining office building sales of 50,000 square feet and above, suggested that...

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