Single-tenant office buildings, government-leased properties, and medical office. A sector in transition with diverging performance between Class A and Class B/C.
Avg Cap Rate
7.20%
+35bps YoY
Vacancy Rate
18.5%
+2.1% YoY
Avg Deal Size
$5.8M
-5% YoY
Q4 Volume
$6.2B
-18% YoY
Data as of Q4 2025 · Sources: CoStar, CBRE Research
Top Tenants
GSA (Federal Gov't)AAA
Full Service
Bank of AmericaA+
NNN
Wells FargoA+
NNN
CignaA
Modified Gross
Latest News
Office Sector Shows Signs of Stabilization in Q1 2026
JLL3h ago
GSA Extends Leases on 42 Federal Office Buildings
Federal News12h ago
Office-to-Residential Conversions Gain Momentum
GlobeSt1d ago
Avg Deal Size
$5.8M
Avg Cap Rate
7.20%
YoY Volume
-18%
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