- Across the U.S., large office leases continue to secure longer commitments, with the most notable shift coming from headquarters relocations and renewals, which saw a significant increase in term length during the pandemic. In contrast, non-headquarters leases have shifted in the opposite direction, trending shorter as occupiers prioritize flexibility and limit long-term risk.
- Over the past decade, office headquarters transactions have bucked broader market trends, with average lease term lengths rising 34.2% as of Q1 2026. During that same period, trophy/class A and class B/C term lengths declined by 10.4% and 25.1%, respectively.
- Pandemic-era market conditions fueled the surge in large headquarters lease term lengths, and those levels remain elevated. Occupiers capitalized on favorable concession packages and locked in base rents below pre-pandemic levels — a strategic move that continues to shape long-term commitments.
A split market: Large U.S. office headquarters lease terms lengthen as non-headquarters opt for slightly shorter terms
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Tucker White
U.S. Office and Life Sciences Lead, Market Intelligence
Boston, Massachusetts, Pennsylvania, New York
Research, Market Intelligence
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