– The gap between trophy/class A and class B asking rents reached a decade high in 2026 YTD, with trophy/class A space averaging $43.65 psf compared to $31.84 psf for class B space, resulting in an $11.81 psf differential. This surpasses the previous record spread of $10.90 psf recorded in 2022.
– At $43.65 psf, asking rents for downtown trophy/class A office space reached a new all-time high, underscoring tenants' continued preference for high-quality, amenity-rich environments. In contrast, class B asking rents fell to $31.84 psf, their lowest level since 2023 ($30.50 psf), reflecting tenant preference for premium space.
– The widening rent gap highlights growing challenges for class B landlords, many of whom are adjusting pricing strategies to attract and retain tenants. Meanwhile, sustained demand for premier office properties has enabled trophy/class A landlords to maintain strong pricing power, supporting continued rent growth at the upper end of the market.
