Looking at Boston, you might never guess the U.S. office market is supposed to be in bad shape. In this city, 14.6 million SF of office space is under construction – more than double that of its closest competitor, San Francisco, and adding 5.9% to Boston's existing office inventory.
Other metros are also seeing significant increases in office space under construction. They include San Francisco (7 million SF), Seattle (5.9 MSF), San Diego (5.1 MSF) and Austin (4.9 MSF). In all, 19 major cities are watching massive new office buildings arise in their midst, according to an analysis by CommercialCafe. Nationally, 97 MSF of office space is currently in various stages of development, the company noted – 28% less than in 2023.
While Boston may be adding the most space – largely thanks to its blossoming life sciences industry — it is not adding the largest structures. That prize goes to Manhattan, where the 22-story 4 Hudson Square is due to be delivered this year. Owned by Walt Disney, the 1.3 MSF edifice will house up to 5,000 of the company's employees. The building will include offices, production studios, a newsroom, executive spaces, a screening room, and outdoor terraces. Disney's current Manhattan HQ, First Battery Armory, is now up for sale.
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