U.S. Office Glut Drives High Vacancies and Falling Property Values While Investors Pivot Towards Logistics
• U.S. office market is world's most oversupplied per capita, with 20% vacancy rates in cities • Investors have taken on too much debt; property values being hit hard • Polarization between high-quality sustainable offices and the rest • Clients more interested in logistics and data centers than offices • Converting offices to housing is challenging despite need