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**San Francisco and New York City Lead Nation’s Office Comeback, Transwestern Reports**
San Francisco and New York City are leading the resurgence of the American office sector, with both cities experiencing notable upticks in leasing activity, according to a new report by Transwestern titled *The Giants Awaken*. The report highlights significant improvements in absorption, vacancy and availability rates, as well as rent growth in both markets.
“New York has logged five straight quarters of strong market fundamentals, enjoying robust absorption, lowered availability, and a sharp decrease in sublet space, which recently dropped below the pre-pandemic level,” the report states. It also notes that the return to the office is well underway, with increased foot traffic helping to boost local retail and restaurant sales.
In San Francisco, the outlook is similarly optimistic. “Offices are filling up, people are coming back, and the city feels more alive than it has in years,” the report finds, describing this as a clear sign that San Francisco’s long-anticipated recovery is beginning to take hold. The report attributes part of this revival to new leadership at City Hall, which has helped to reinvigorate the downtown area.
These findings suggest that the nation’s two largest office markets are at the forefront of a broader post-pandemic transformation in the commercial real estate landscape.
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