Michael Munoz

Key points: • Class-A office is outperforming as tenants consolidate into higher-quality, amenity-rich buildings despite elevated overall vacancy. • New construction has slowed sharply while demolitions and conversions rise, tightening supply of top-tier space. • Investor activity reflects this selectivity, with A and A+ assets gaining value as older inventory faces refinancing and repositioning pressure. March 2026 — As the national office market struggles to find its balance, one segment...