The Quiet Comeback: Why Office Real Estate Is Poised for a Post-Rate-Cut Revival

Research Report | October 2025

Axum Group of Companies - Investment Research Division

After three years of relentless doom-and-gloom headlines about empty towers and collapsing valuations, something unexpected is happening in North America's office market: signs of genuine recovery. Interest rates are falling, hybrid work patterns have stabilized, and tenants—from tech giants to financial institutions—are signing long-term leases again. The bloodied office sector, once written off as obsolete, is quietly demonstrating that reports of its demise were greatly exaggerated.

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