CommercialCafe's mid-year office pipeline report reveals that there are roughly 77 million square feet of office space currently under construction across major U.S. markets. Boston is at the forefront with about 12 million square feet, while Dallas and San Francisco closely follow with 5 million square feet each.

For this study, we used CommercialEdge data to analyze trends in office construction activity across the country's major real estate markets. We also identified the largest office projects completed in the first half of the year (H1) and highlighted the top 20 office developments expected to be finishedin 2024.

Here are some local highlights:

• Atlanta has 1.8 million square feet of office space under development, placing the market 16th among the markets with most active office pipelines – just behind Houston and on par with Charlotte.

• The most significant project delivered in Atlanta in the first half of the year, was the Science Square Labs at 368,258 square feet. The project was also the 14th-largest property among the entries on the list.

At the national level:

• Overall, Boston claimed the top spot for the most active office development in the U.S., boasting a pipeline of 12.5 million square feet of office space currently under construction. This surge is largely driven by the city's focus on life sciences – including the 707,000-square-foot Boston Seaport - 1 Boston Wharf, which is the largest among them.

• The Southern region claimed 7 out of the top 10 spots across the list of markets that experienced the most significant percentage increases in office inventories. 

Find more details and our complete methodology here: https://www.commercialcafe.com/blog/mid-year-office-pipeline-report/