1. San Francisco: 31%
2. Los Angeles: 26%
3. Chicago: 24%
4. Phoenix: 24%
5. Cleveland: 23%
6. Denver: 22%
7. Philadelphia: 19%
8. Boston: 19%
9. Houston: 19%
10. Austin: 19%
11. New York: 17%
12. Dallas: 17%
13. Miami: 16%
14. Detroit: 13%
15. Seattle: 11%

Currently, 17% of all office space in the US is vacant.

Meanwhile, over $1.5 trillion of commercial real estate debt is coming due by 2025.

Most of this debt is held by regional banks and vacant properties are struggling to pay the debt.

https://twitter.com/KobeissiLetter/status/1666089781951107076