The Office Market Begins Searching for a Bottom

Hughes Marino | HM Blog
March 11, 2025

After three years of spiking office space availability rates, 2024 was the first year where the U.S. office market began searching for a bottom. Most metro markets did not see office availability rates materially rise or fall over the last year, which is good news for owners, suggesting that the markets might be stabilizing. There were some notable exceptions moving in opposite directions. Boston’s availability rate increased by almost two percentage points and Austin increased by just over one percent. On the other side, Houston and New York City saw almost a two percent decrease in availability rates, while San Jose and Atlanta each saw a full percentage point decrease. The following chart shows availability rates by metro area from Q1 2024 compared to Q1 2025.

The Miramar Industrial Market is Shifting – Here’s What It Means for You

Hughes Marino | Market Reports
February 25, 2025

Since 2021, the industrial and flex space market in Miramar has undergone a dramatic transformation, moving from one of the tightest market conditions in history, to now having an availability rate that is the highest in a decade. Back in 2021-2022, of the 18 million square feet of industrial and flex space in the market, only 520,000 square feet were available, creating a record low availability rate of 3%. This tight market, driven by surging supply chain and e-commerce demand, allowed landlords to raise rental rates significantly, and demand longer length of lease terms from tenants. If a prospective tenant balked at the price, there was always someone else ready to sign a lease for the space.