Collier office market report

The U.S. Office Market Continues to Stabilize

Key Takeaways

• The U.S. office vacancy rate continued to level off in Q4 2021.
• Net absorption increased and was positive for the second successive quarter.
• Asking rents are mostly holding firm, but concessions have increased.
• Sublease space levels declined again in the fourth quarter but remained elevated.
• Supply-side risks are diminishing as speculative construction continues to slow.
• Sales volume is approaching pre-pandemic levels.
• Office occupancy looks set to increase in the weeks ahead.
• The U.S. economic outlook for 2022 is broadly positive, pending short-term concerns.
• California and Florida are projected to lead the economic recovery.

Stephen has over 35 years of experience in Commercial Real Estate (CRE) Research in the U.S. and U.K. He brings expert knowledge of diverse CRE markets and a broad range of skills in forecasting, analysis, and strategy. At Colliers, Stephen is responsible for U.S. National Office research, collaborating with various business lines and providing valuable insights through reports, interviews, and presentations.

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