• Cushman & Wakefield projects North American office market rents will remain below levels needed for profitable new development until the early 2030s.
• Average market rents reached $77.03 per square foot in 2026, about 6% below the minimum needed to make new development profitable.
• Globally, office space under construction totaled 580 million square feet in Q3 2026, down 45% from its 2017 peak.
• New York stood apart, with market rents of $156.64 per square foot nearly 60% above the $98.69 development profitability threshold.
• Boston and San Francisco are projected to reach development viability in 2029; Chicago is expected to follow in 2032.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cushman & Wakefield Ltd. published the original content used to generate this news brief via Business Wire (Ref. ID: 20261112407296) on November 13, 2026, and is solely responsible for the information contained therein.