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Empty office space tends to concentrate in a small number of buildings — but that number is rising

High vacancy now afflicts 21% of all buildings
San Francisco saw the biggest increase in the number of high-vacancy buildings among major U.S. office markets. (CoStar)
San Francisco saw the biggest increase in the number of high-vacancy buildings among major U.S. office markets. (CoStar)
CoStar Analytics
August 19, 2025 | 5:18 P.M.

It has long been true that most of the vacant office space in a market is concentrated in a relatively small number of buildings. But these days, high-vacancy buildings account for an even more disproportionate share of this unused space than five years ago.

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