Surging Demand for Low Carbon Offices  

There’s a looming shortage of high-quality, low-carbon office space in major U.S. markets, expected to exceed supply by 75% by 2030, according to a recent Local Law 97 report. This translates to a projected deficit of around 57 million square feet of low-carbon office space in the near future. 

This supply-demand disparity varies among cities, influenced by factors like industry composition, corporate space requirements, and existing property characteristics. New York City dominated by finance and professional services firms, anticipates a substantial future demand for low-carbon space, driven by carbon reduction commitments. However, the current pipeline is expected to provide only a fraction of this demand by 2030.