Eastdil Secured Tops Broker Rankings in Office Sales Recovery

In 2024, the office property market showed signs of recovery after a prolonged slump, with sales rising 29% to $40.27 billion, up from $31.22 billion in 2023. Despite the increase, sales remained below the 10-year average of $83.63 billion. Eastdil Secured emerged as the top-performing brokerage in the sector, with $8.08 billion in brokered deals, marking a 48% increase. The market's momentum is attributed to stabilized interest rates and improved investor confidence. Investors are cautiously optimistic about future transactions, as the number of bids and larger deals grows, influenced by low valuations and potential opportunities for profits. However, the ongoing high costs of legacy buildings, reduced valuations, and expensive debts continue to affect sellers. Experts forecast a steady increase in sales, notably institutional acquisitions of trophy properties as well as an uptick in lender-facilitated sales in 2025.