A major post-pandemic milestone was set in the second quarter of 2026: Annual office demand turned positive for the first time in nearly four years.

Though national vacancy rates remain elevated, office assets are seeing increased interest across the board. In Q2 alone, vacancy rates fell by 60 basis points compared to the prior quarter, signaling that demand is making a comeback.

One segment, in particular, continues to outperform the others: Class-A and trophy space. 

It’s estimated that just 10 years ago, Class-A office space ran a 19% premium over lower-tiered office types. By 2026, this number has risen to nearly 30%. Vacancy in premium assets is also measurably lower than overall office vacancy: about 8.5% versus 17%, respectively. 

Tenants heading back to the office want spaces that go beyond the typical expectation of an office building, said Jeff Pollock, CCIM, SIOR, founder and managing principal at Pollock Commercial/CORFAC International in Atlanta.

“‘Premium’ is no longer defined simply by a marble lobby, a prestigious address or the newest building,” Pollock said. “Tenants view premium as the complete experience: a great location, well-designed space, dependable ownership, strong services and an environment that makes people want to come to the office.”

Creating Environments Worth The Commute

A defining feature of a premium office asset in today’s market is its amenity roster, with tenants responding best to amenities they will use in their day-to-day life, Pollock said. This includes quality food and beverage options, fitness and wellness facilities, outdoor spaces and hospitality-level services. 

Andrew Koller, research analyst and adviser at Wolf Commercial Real Estate/CORFAC International in Marlton, New Jersey, agrees with Pollock, saying the biggest tenant retention trend his team has observed is the increased prevalence of on-site beverage and dining options. This includes facilities such as lobby coffee bars, food halls, gourmet quick-serve restaurants and prepared foods. 

Andy Mills, CCIM, SIOR, president of Elford Realty/CORFAC International in Columbus, Ohio, said it all boils down to convenience. Tenants and their workers increasingly want everything they need throughout their workday in one place. 

“The word ‘trophy’ in Columbus means high-quality office options in active mixed-use corridors with free parking, walkable amenities, high ceilings, outdoor areas and a variety of shared amenities,” Mills said. “It is a place where people walk in and has a ‘wow’ factor that makes them feel like their employees would want to come to the office.”

People are willing to pay premiums for these services if it means their employees are excited to come to work every day, Pollock said. But perhaps more important than any single amenity is how they all flow together to make the entire building stand out in a highly competitive market. 

“The measurable impact is often less about charging a higher rent for a particular amenity and more about getting a building onto the tenant’s short list, accelerating decisions and improving retention,” Pollock said. 

Evolving Leasing Strategies

Once upon a time, custom office suites made up the majority of the office market. In today’s world, that’s not the case. 

From 2017 to 2019, custom spaces made up 55% of the market — with just 45% being spec spaces. Fast-forward to 2024 and 2025, and those numbers experienced a drastic shift, with 82% of the market being spec suites and 18% custom build-outs. 

Brian Gehrisch, vice president of Bradford Commercial Real Estate Services/CORFAC International in Dallas, said tenants are looking for modern, turnkey spaces.

“Spec suites went from marketing experiment to core strategy,” Gehrisch said. “The sub-10K SF tenant in Dallas will pay up to skip a nine-month build-out and construction risk they don't understand. Owners with capital are winning on speed: Tour it Tuesday, sign it Friday, move in next quarter. They eat more cost upfront and get velocity and pricing power back.”

Spec suites typically rent in about half the time, with the average deal size being 15% smaller than pre-pandemic — and with more flexible lease terms. Ken Elmer, senior vice president of sales and leasing for investments at Commercial Properties Inc./CORFAC International in Phoenix, said this is because turnkey spaces eliminate uncertainty.

“Tenants can see what they are leasing versus imagining what it might look like,” Elmer said. “That’s really something people want in today’s market.”  

What's Happening Across The Pond

In Europe, the word “premium” used to mean having a good address, said Charlie Thompson, managing partner at Farebrother/CORFAC International in London. 

Now, it's all about performance and having the preferred sustainability credentials, air quality and floor plates flexible enough to let occupiers scale without ripping out a fit-out, he said. 

“Grade A space accounted for 92% of Central London takeup in Q1 2026, with demand concentrated on BREEAM ‘excellent’ and ‘outstanding’ buildings, the two highest scores on the world’s top system to measure green building performance, so sustainability is now a baseline requirement, not a differentiator,” he said. 

Like in the U.S., amenities are supremely important in making or breaking a space. This includes bike storage facilities, fitness centers and flexible conference areas. But what’s moving deals across the finish line is a turnkey, fitted space that lets the building function as a destination, rather than just somewhere to sit, Thompson said. 

“We recently advised an occupier searching for about 8K SF in Midtown London who shortlisted turnkey space only,” he said. “The landlords offering Category A-plus suites secured viewings within days, while a comparable white-box building nearby saw no interest at all.”

For years, Europe’s office assets operated more like mixed-use destinations with integrated retail, hospitality or residential elements. The U.S. is finally catching on, with an increased preference for office space in mixed-use developments or lifestyle districts, Gehrisch said. 

“The best trophy plays now are destinations, places with retail, hospitality and sometimes residential baked in, not an office box with a coffee shop in the lobby,” he said. “In Dallas, district-style projects are beating standalone towers on rent and occupancy, plain and simple. When the building draws traffic for more than one reason, the office piece stops being a gamble.”

This isn’t just happening in Dallas. From Phoenix to Columbus to Atlanta to New Jersey, tenants all want the same thing: a place where workers are excited to come to the office.

“As brokers, we sit on the demand side daily, so we know exactly which investments show up in a tenant's scoring system and which never come up on a tour,” Gehrisch said. “Sometimes, the smart move is skipping the amenity race entirely and putting that money into spec suites and tenant improvements. A mediocre building with a rooftop deck is still a mediocre building.”

This article was produced in collaboration between CORFAC and Studio B. Bisnow news staff was not involved in the production of this content. 

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com.