高力国际（Colliers）：2026年第一季度美国写字楼市场报告（英文版）（13页）.pdf

1、The U.S.office sector began 2026 on a markedly firmer footing.After multiple years of disruption driven by hybrid work adoption,capital market uncertainty,and elevated vacancy,fundamentals are stabilizing nationally,with clear signs of improvement in select gateway and innovation-driven markets.OFFI

2、CE2026U.S.NationalColliers Q1 2026 Office Report|U.S.KEY TAKEAWAYS Demand exceeded new supply for the third consecutive quarter.Growth remains concentrated in select markets.Property owners are getting more creative to attract demand,even welcoming new industries or converting space back to pure off

3、ice.This includes leasing to medical tenants and converting lab space to pure office space.Flight to quality is here to stay,as demand in the top tier of the market is generating the bulk of leasing.HISTORIC COMPARISON NET ABSORPTION(SF)YOYForecastOVERALL VACANCYRATE YOYForecast18.2%Q1 2026Q1 2025Q1

4、 2024Total Inventory(in billions of SF)6.16.26.2TTM New Supply(in millions of SF)14.527.938.0TTM Net Absorption(in millions of SF)23.2(0.8)(64.6)Overall Vacancy Rate18.2%18.3%18.0%Under Construction(in millions of SF)23.633.856.2Overall Class A Asking Lease Rates(FS)$43.63$42.65$42.25UNDERCONSTRUCTI

5、ON(SF)OVERALLCLASS AASKINGLEASERATES(FSG)YOYForecastYOYForecast23.6M$43.63/SFOFFICEMARKET GRAPH 20266.2M2U.S.Overview10.0%12.0%14.0%16.0%18.0%20.0%(60,000,000)(40,000,000)(20,000,000)-20,000,000 40,000,000Q1 2021Q1 2022Q1 2023Q1 2024Q1 2025Q1 2026Square FeetNet AbsorptionDeliveriesVacancy RateCollie

6、rs Q1 2026 Office Report|U.S.U.S.Office Market Overview3The U.S.office market has stabilized,with improving metrics evident across most regions.Nationally,increased leasing activity has broadened beyond a handful of coastal markets,signaling that recovery is no longer isolated.However,sustained grow