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Office Leasing Volumes Signal Recovery

Over the past two years, a more optimistic economic outlook and the solidification of return-to-office strategies have boosted tenant confidence, leading to an increase in larger and longer-term leases. In Q2, leasing activity hit a post-pandemic high, with 50.2 million square feet transacted—a 15% increase from the previous quarter and a 7% rise from the same period last year. Over the last 12 months, leasing has rebounded to 77% of pre-pandemic levels, with Q2 transactions reaching nearly 90% of the pre-pandemic average.

This acceleration follows four consecutive quarters of growth in Tenant in the Market (TIM) volume.


Source: JLL Research

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