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Upgraded office buildings have a strong record in recoveries. This time could be different.

Building renovations slow as price discovery grinds on
Owners of recently renovated buildings, such as BXP's 360 Park Ave. S in Manhattan, will be looking to capitalize on a generationally low level of new construction. (CoStar)
Owners of recently renovated buildings, such as BXP's 360 Park Ave. S in Manhattan, will be looking to capitalize on a generationally low level of new construction. (CoStar)
CoStar Analytics
April 8, 2025 | 9:42 P.M.

Increasing demand and a diminishing construction pipeline have the U.S. office sector poised for recovery, a time in which recently renovated buildings have historically performed well. However, there are differences this time around that could limit building owners’ ability to capitalize.

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