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boost for the commercial real estate industry: US office recovery has reached a post-pandemic peak, with the most active quarter in five years, according to JLL's latest report. The Q4 report highlights 52.9 million square feet of office space leased, a staggering 92% of pre-pandemic averages and the third consecutive quarter of record-breaking leasing volume. This milestone marks the first positive net absorption since Q4 2021, with availability declining as well.

    The surge in inventory is also being offset by a decrease in available office buildings, driven by conversions into residential dwellings and dwindling new construction projects. As companies increasingly adopt traditional work models, mandating employees spend more time in the office, JLL expects this trend to continue, with attendance requirements becoming more widespread.

    While progress has been made in stabilizing the US office market, challenges persist, according to JLL's report.