According to CommercialCafe’s latest Office Pipeline report, agility has become the defining currency of today’s office market, as developers scale back, pause, or recalibrate projects to manage risk amid contracting construction volumes and softer demand.
Yet momentum is quietly rebuilding, with Yardi Research indicating that nearly half of the 28.9 million square feet currently underway broke ground in 2025, a measured but meaningful uptick that signals cautious confidence in the next cycle of growth.
The office report reveals:
- Denver has roughly 604,000 square feet of office space under construction, ranking 13th nationally by total volume.
- That pipeline represents 0.4% of total office inventory, placing the market 16th by percentage of stock under construction.
- Nationally, 28.9 million square feet are under construction, with nearly half of that volume breaking ground in 2025.
Additional general highlights:
- Looking at the overall ranking, Boston maintained its position as the market with the largest office pipeline, totaling 4.1 million square feet under construction — 1.6% of the city’s total office stock. This volume represents less than one-quarter of its 2024 peak.
- Meanwhile, West Palm Beach, Fla., ranks first this year in terms of office space under construction as a share of total inventory. Approximately 1.6 million square feet are currently underway, accounting for 4% of the market’s existing office stock.
- In terms of office deliveries, the 1.1-million-square-foot Amazon-owned Tower 1 at Bellevue 600 stands as the largest office project set for delivery this year.
- Medical office development is gaining momentum in the South, led by the 251,444-square-foot MD Anderson Consolidated Service Center set to deliver in Q2, while most large life sciences projects remain concentrated in the Northeast.
Explore the complete findings in the CommercialCafe report here: https://www.commercialcafe.com/blog/office-pipeline-report/
