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US office leasing holds steady at midyear

While demand remains strong, smaller deal sizes suppress volume in most markets
Miami's office market is one of just a few to see average lease sizes above their pre-2020 average. (Gabor Kovacs/CoStar)
Miami's office market is one of just a few to see average lease sizes above their pre-2020 average. (Gabor Kovacs/CoStar)
CoStar Analytics
July 8, 2026 | 4:06 P.M.

Office tenants signed new leases for an estimated 115 million square feet during the second quarter of 2026, roughly in line with revised first-quarter numbers but still slightly below the quarterly average from 2015 to 2019.

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