RXR Chairman and CEO Scott Rechler recently spoke with the Commercial Observer, sharing his 2026 expectations for the office market. Rechler says office demand is proving more resilient than expected, with many post-pandemic tenants expanding their footprints as employees return. Additionally, Rechler added that the pipeline of projects will have an impact on the market for the coming years.
“Almost every tenant that took space earlier, coming out of the pandemic, had to materially increase their space and expand as employees came back. Companies like IBM just ended up taking a lot more space than they thought they were going to need. That has all been absorbed, so there really isn’t new supply that’s going to be coming on the market until 2030, ’31 or ’32.”
