National office sales volume hits $43.7b in H1 2022

Office sales in June reached $8.4 billion, bringing the national sales volume to $43.7 billion year-to-date, according to data from Commercial Edge. Of this, only about a third — 32 percent to be precise — were registered in gateway markets such as New York City, Los Angeles and Chicago. By comparison, only five years ago, gateway markets accounted for 41.5 percent of the national office sales volume.

Investors have been increasingly reorienting to non-gateway life sciences markets such as the Bay Area, as well as tech markets such as Seattle and Denver, all three of which have already registered more than $2 billion in office sales in the first half of the year. In fact, seven markets closed more than $2 billion in office sales, with another seven markets comfortably above the $1 billion threshold.

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