US Office Sales Sank 28 Percent in 2022: Report

January 27, 2023 | Greg Cornfield | Commercial Observer

New data reveal how much the nation’s office sector is deflating in the wake of the pandemic.

Total investment sales sank 28 percent in 2022 and the situation isn’t expected to improve in 2023, according to a new report from CommercialEdge. Investors in the U.S. completed $83.6 billion in office sales in 2022 at an average $247 per square foot, significantly lower than the $116 billion that closed at an average $280 per square foot in 2021.

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