The Two-Speed Office Market, Leasing Is Back, Obsolescence Isn’t Going Away
Can both be true at the same time?
Office leasing improving AND office obsolescence accelerating…
Can both be true at the same time?
When headlines talk about leasing velocity returning, they are usually describing what is happening in the parts of the market where demand still concentrates, better buildings, better locations, stronger sustainability credentials, better arrival, better amenities, better experience, better everything.
That is one speed.
The other speed is the part of the market where buildings are still being priced, operated, and repositioned as if the job is simply to “lease space,” even when the product is no longer competitive and the customer expectation has shifted.
This split is what matters for owners, investors, and lenders.
The risk is not “office” in the abstract.
The risk is owning the wrong product in a market that has become increasingly intolerant of mediocrity.
Below I’ll share a practical playbook for owners and capital…
