According to new data from the CBRE Group, for the first time in 25 years, more office space is being demolished or repurposed than is being built across the largest 58 U.S. real estate markets. By the end of this year, 23.3 million square feet of office space is slated for demolition or conversion to other uses. In those same markets, developers are projected to complete construction of 12.7 million square feet of office space.
