How Trump’s tariffs are hurting the office recovery

Published Tue, Jul 15 202511:00 AM EDT

By: Diana Olick

A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.

After a slow improvement in demand for office space in the first part of this year, April brought a significant contraction. Tariffs may be behind it.

In April, 17 of the 19 major office markets tracked by VTS, a real estate software, analytics and advisory firm, saw decreases in demand compared with March. VTS measures office demand by counting anyone who starts an office tour or searches for office space. The flow of new tenants into the office market dropped by 23% from March, and the total square footage being sought fell 26%. LEARN MORE…

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