Trophy Towers Lead Office Comeback In Major US Cities

Trophy towers in major US cities are seeing over 90% of pre-pandemic usage on peak office days, led by Tuesdays at 94%.
The flight to quality continues as top-tier buildings capture an outsized share of leasing despite broader market stagnation.
National office use remains flat at around 50%, with Mondays and Fridays seeing the lowest attendance.
Limited new development and rising demand for A+ space could drive future construction or major renovations.

Key Takeaways

A 2019 Vibe — At The Top End

More than five years since COVID-19 upended office routines, a familiar scene is returning—at least in the country’s most elite office buildings, as reported by CoStar. Kastle Systems’ midyear report shows that Class A+ buildings in major markets are now seeing over 90% usage on peak days, with Tuesdays leading at 94%.

These usage rates rival pre-pandemic levels, giving landlords of trophy towers in cities like New York, Chicago, and San Francisco reasons for optimism.

Not All Buildings Are Created Equal

The report highlights the widening gap between trophy properties and the broader office market. While Class A+ buildings average 75% occupancy, the 10-city national average across all building types remains around 50%, underscoring the disparity in demand between premium and older properties.

Mondays and Fridays remain underutilized, reflecting the enduring hybrid work culture. But Kastle’s executive chairman, Mark Ein, is optimistic: “For the best buildings in the best markets, it’s basically back to normal on peak days.”

Flight To Quality

The recovery is being driven by large employers like JPMorgan Chase, Google, Amazon, and Salesforce, which have emphasized in-office work. These companies are competing for top-tier space with modern amenities, high-end design, and central locations—features that attract employees and justify high rents.

In Manhattan, trophy properties captured 62% of Q1 office leasing, nearly doubling their share year-over-year, according to Avison Young. High demand even led One World Trade Center to open space on its upper floors at premium rents exceeding $100/SF.

Chicago’s modern towers—like Salesforce Tower and 150 N. Riverside—remain tight on available space despite a citywide surplus in lower-tier offices.

What’s Next

With high construction and financing costs, new office tower development has largely paused. Soaring rents and high occupancy in trophy towers may soon justify new construction or major upgrades in prime office markets.

As Ein puts it: “In a lot of markets, A+ space is at a premium. As rents continue to go up, it’s going to make sense to build new or make significant renovations.”

Trophy towers aren’t just surviving hybrid work—they’re shaping the future of office demand with high usage and premium appeal.