JLL’s Jacob Rowden Sees New Expansionary Phase for U.S. Office Leasing
For wealth professionals with exposure to real estate or REITs, the episode offers a manager-research view on whether office demand is in a durable recovery and which market and rent segments are part of it. It frames the issue around leasing, absorption and supply changes rather than short-term price calls.
Summary
By the real estate & infrastructure deskJacob Rowden of JLL discusses the rise in U.S. office leasing, linking a 6.4% increase over the last 12 months to companies realigning space needs with headcount. He describes a gap between workforce growth since 2019 and cuts to office portfolios, and points to five consecutive quarters of positive net absorption as evidence of a sustained expansionary cycle. The episode also covers market differences, shrinking inventory and conversions, trophy rents, interest-rate volatility and what to watch next.
- U.S. office leasing rose 6.4% during the last 12 months, according to JLL's Jacob Rowden.
- By mid-2025, companies had expanded headcount by more than 5% from 2019 levels while cutting almost 10% of their office portfolios.
- Five consecutive quarters of positive net absorption give Rowden confidence that the market has entered a new expansionary cycle.
- Rowden says there is more parity across geographic markets today than at any point in the last six years.
Chapters
From the publisher’s description| Time | Chapter | Length |
|---|---|---|
| AI Hype Reality Check | 1 min | |
| Welcome and Guest Intro | 1 min | |
| Why Leasing Is Rising | 2 min | |
| Which Markets Lead | 1 min | |
| Net Absorption Signals | 2 min | |
| Inventory Shrinking Conversions | 5 min | |
| Trophy Rents Surge | 2 min | |
| Is Recovery Durable | 2 min | |
| Interest Rates Volatility | 3 min | |
| What to Watch Next | 2 min | |
| Closing Thanks Subscribe | 1 min |
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Videos and podcasts are embedded from their publishers. Selections and summaries are editorial and are not investment advice.