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The office recovery is at last underway, but it's still not widespread

Demand is driven by only a few big markets
Midtown Manhattan, including properties like Hudson Yards, has led the national stabilization of office demand over the past year. (Gian Lorenzo Ferretti /CoStar)
Midtown Manhattan, including properties like Hudson Yards, has led the national stabilization of office demand over the past year. (Gian Lorenzo Ferretti /CoStar)
CoStar Analytics
June 17, 2025 | 8:42 P.M.

The pace of office occupancy losses has slowed dramatically over the past 12 months, and surging leasing activity indicates that the long-awaited recovery is at last underway.

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