Location has taken on heightened significance in today’s evolving office landscape as tenants reassess their spatial needs amid shifting workplace dynamics. This transformation raises critical questions about resilience and opportunity: Which established submarkets are surpassing market averages? Which emerging corridors hold the most promise for future leasing activity?

While comprehensive answers to these questions can be found in Newmark Research’s paper, Winning Office: Where U.S. Office Space is Thriving and Why, this summary touches on the paper’s core trends, offers glimpses into standout submarkets and their shared qualities, and highlights opportunities for occupiers and investors.

Hybrid work and high capital costs have taken their toll on tenant demand. By mid-2024, 80 percent of U.S. firms offered some form of remote work, with annual cost savings of up to $10,000 to $20,000 per employee, while today’s average U.S. office lease size is 11 p