Downtowns Claim Largest Share of Top U.S. Office Leases: CBRE

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Downtown buildings and high-quality office space accounted for most of the largest U.S. office leases signed last year, signaling occupiers’ preference for amenitized and well-designed space that helps bring employees together, according to CBRE, Dallas.

CBRE analyzed the 100 largest office leases by square footage to find that downtown buildings accounted for 54 of the top 100, or 59% by square footage, in 2025. Among downtowns, which are generally categorized as central business districts, leases of 100,000 square feet or more rose 19% by square footage of overall office leasing.

Prime office buildings, which CBRE defines as the best of the best buildings in a market, captured 18% of top deals by square footage despite comprising just 8% of total U.S. office inventory.

Class A buildings, just one notch below prime buildings, captured 61% of the top 100 leases, highlighting a growing trend of demand spilling over to Class A space as available prime office space dwindles.

“Downtown office leasing is being driven in part by companies that consolidated over the last few years and have run out of room,” said Mike Watts, CBRE Americas President of Investor Leasing. “Downtown environments also offer neighborhood amenities and attractions that bring people together in ways that remote work and AI can’t fully replace.” Watts said these factors make downtown locations attractive for companies as they think about their long-term workplace strategies.