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US office construction plunges to lowest point since 2011

Shrinking pipeline and changing development help stabilize vacancy, but constrain tenant options
Deloitte-anchored 70 Hudson Yards, seen in this rendering, broke ground last month as one of a dwindling number of traditional office towers underway. (CoStar)
Deloitte-anchored 70 Hudson Yards, seen in this rendering, broke ground last month as one of a dwindling number of traditional office towers underway. (CoStar)
CoStar Analytics
November 20, 2025 | 9:22 P.M.

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A plunge in the amount of office space under construction in the United States has reached its lowest level in nearly 15 years.

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News | US office construction plunges to lowest point since 2011