Outstanding office buildings with great potential in prime city locations
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Office vacancy rates are rising, reaching concerning levels in the downtowns of major cities across Europe and America. Even prominent business districts are experiencing a growing number of empty office buildings.
This summer, some city downtowns have reported disastrous office vacancy rates of up to 25-30% or even worse. San Francisco's vacancy rate increased from 35.6% by the end of 2023 to 36.7% this spring.
At the beginning of the year, Germany’s market for office properties reached the lowest point in almost 15 years, with significantly increasing office space vacancies compared to a year ago.
Growing demand from smaller office tenants does not compensate for the large chunks of vacant offices left behind by major companies focused on reducing costs.
Turning point
"Currently, office markets are expected to continue underperforming, with demands for office space remaining low.," MatchOffice CEO Jakob Dalhoff comments.
"However, the decline in the first quarter was less than in previous periods, indicating that office markets could stabilize throughout 2024 and eventually start showing signs of improvement."
  This summer, some city downtowns have reported disastrous office vacancy rates of up to 25-30% or even worse. Photo: Cushman & Wakefield | RED Cph |
This summer, 64 Manhattan office building owners considered a major transformation, converting their commercial properties into housing and new apartments.
"Converting vacant office buildings into private apartments again has become a trend. But currently, you´ll still find numerous attractive office properties available for rent in the prominent urban areas usually inaccessible to tenants," Jakob Dalhoff adds.
High potential
MatchOffice News has here picked a selection of currently vacant office leases in office buildings with optimal location, performance and high potential - leases that can be found right now on MatchOffice.com:
Nicolai Eigtveds Gade 28, 4th floor, 1402 Copenhagen City Center
The property is centrally located in Christianshavn, just a short distance from the Metro station and the harbour bus stop right outside the property. The large glass windows facing the harbour ensure an inspiring work environment and a unique water view. Award-winning property, approx. 94 workplaces.
● Area: 1.571 sqm
● €260 sqm/annual
Vasagatan 12, 111 20 Norrmalm, Stockholm
In SthlmHUB on Vasagatan, opposite the Central Station, there is perhaps Stockholm's best office for commuters and those who want to work centrally. Here you can enjoy a fantastic view of Riddarfjärden, breakfast every day, large roof terrace and subway, commuter train, train, shops and restaurants are literally around the corner.
● Area: 3.000 sqm
● Flex desk from €31/day, private offices on request
Rondo Daszyńskiego 1, 00-843 Warszawa Wola
Warsaw Unit is an impressive skyscraper located in the city centre, serving as a symbol of modernity and innovation, capturing attention with its innovative form. The Unit rises to a height of approx. 180 meters, consists of 47 floors, and is located in a most prestigious location.
● Area: 10-2.000 sqm
● Contact for prices
Potsdamer Platz, Linkstraße 2, 10785 Berlin Mitte
Inside this beautiful building designed by one of the world’s leading architects, we provide our clients with a first-class, exclusive atmosphere coupled with multi-million-pound five-star fit-out. The office space is flexible - you could grow into the office next door or expand into offices around the world.
● Area: 50-500 sqm
● Contact for prices
2 Leman Street, Aldgate Tower, E1 8FA The City of London
Located within the iconic Aldgate Tower, an impressive 16-floor glass building at the heart of this emerging district. Huge windows enable epic views and natural light floods the expansive open floor design to enhance collaboration and human connection. Private office space customized to fit your company, all on flexible terms. 1-400 persons.
● Area: 400 desks
● €230-410 desk/month
Amstelplein 54, 1096 BA Amsterdam East
One of the most iconic skyscrapers of the city. Perfect accessibility and a luxurious appearance make the Mondriaan Tower a very unique office building with a breathtaking view. High-quality offices, and extended reception services. Just a stone’s throw away from ‘Amsterdam Zuid’ and the city centre.
● Area: 50-400 sqm
● From €1.250 office/month
Carrer de Sardenya 229, 08013 Eixample Barcelona
Cloudworks Sagrada Família is the ideal place for networking. Its proactive community helps you increase efficiency and expand your network, boosting your company or startup. Collaboration is a key characteristic of our workers, at this location, you can easily create fruitful synergies.
● Area: 3.000 sqm
● Dedicated desk €340/month, Week Pass €100/week
2/32-34 Moskovska/Reznytska Streets, Kyiv
Located in the Pechersky district in the centre of business and political life of the city. The presence of the necessary infrastructure inside and outside the building, technical capabilities and proximity to the city centre makes renting here as comfortable as possible.
● Area: 300-4.000 sqm
● Rents from €140-3.200/annual
5 Penn Plaza, New York Chelsea, NY 10001
Conveniently located across from Pennsylvania Station. Clients arriving in N.Y. City on Amtrak, Long Island Railroad or New Jersey Transit find their productivity enhanced by 5 Penn Plaza Center's desirable location. With only a five-minute walk from the train, commuters enjoy easy access to the centre.
● Area: 1,076-3,229 ft²
● Upon request
535 Mission Street, 14th floor, San Francisco, CA 94105
Relish the inspiring views from the 14th-floor position in this elegant glass-fronted building which has been designed to project a good corporate image for your business. This business centre is popular with law and media professionals and offers a creative and collaborative working environment.
● Area: 538-13,207 ft²
● Serviced offices from $1,230 person/month
Jumeirah Lakes Towers, Mazaya Business Avenue BB1, Dubai
Jumeirah Lake Towers is among the most vibrant and popular communities in Dubai. It’s characterised by man-made lakes that are surrounded by skyscrapers, enabling its residents to enjoy waterfront living. Ergonomic workplaces in a stylish open space for those on remote or starting a new business venture.
● Area: 150-1.500 sqm
● Contact for prices
Frasers Tower, 182 Cecil Street, Singapore CBD 069547
An address for success: Premium grade A office building strategically located at the gateway to Singapore’s core CBD, unique location in a park coupled with its combination of workspace and nature will make it an attractive and iconic addition to TEC’s portfolio.
● Area: 1.900 sqm
● From €1.000/month
International Finance Centre Seoul, Two IFC, Level 22, Seoul 07326
As a client of the centre at Two IFC, not only will you find the office space full of natural lighting, creating an open, airy, and light atmosphere, you will also enjoy the efficiency brought by the cutting-edge meeting and conference facilities, state-of-the-art IT and communication infrastructure, and professional business services in the 24/7.
● Area: 50-1.998 sqm
● Upon request
29F, Block C, Jianguomenwai Avenue, Chaoyang District Beijing 100022
This Business Center focuses on providing a warm and professional working space which is ready for use to the foreign companies. The Center is decorated in both a Chinese and western style. Located in the southwest corner of the CBD core “Golden Cross” district.
● Area: 50-1.500 sqm
● Contact for prices
60 Margaret Street, Sydney 2000
Central to Sydney's vibrant and energetic business district. Aside from being conveniently located near the famous Sydney Harbour and Opera House, Wynyard station is next door. Boasting a spacious open-plan design overlooking the iconic Sydney Harbour, members can enjoy all the perks of an inner-city address.
● Area: 10-300 sqm
● Serviced offices from $800 per person/month
Read more:
Cbre.com: Global prime office rent tracker
Nytimes.com: Office building losses start to pile up and more pain is expected
Alpha-sense.com/blog: Rising office vacancy rates - the end of in-person jobs?
Houzeo.com/blog: What is vacancy rate and how do you calculate it?
