Absorption of office space in the largest U.S. markets 2023
Among the 25 markets with the largest class A office real estate inventory in the United States, eight experienced positive absorption rates during the fourth quarter of 2023. Dallas-Fort Worth, had the highest absorption rate at almost 829,000 square feet, meaning that the amount of space physically occupied was 829,000 square meters more than the amount of space vacated. Manhattan, the largest U.S. office market, had the second-highest absorption rate. Despite a difficult 2022, the demand in the office sector is forecast to pick up, with net absorption increasing until 2027.
