Dear Friends, Clients, and Partners,
I am pleased to announce that Corporate Realty’s 2025 Greater New Orleans Office Market Report is now available. This annual report provides a comprehensive look at the New Orleans office market as well as occupancy and rental rates for each building that contains at least 20,000 rentable square feet (rsf).
For years I have talked about our Greater New Orleans office market as a stable “valley” rather than a market of dramatic “peaks and valleys.” As I write in my introduction to this year’s report, we generally experience very few changes in our valley. Instead, we have often seen:
Stability over volatility
Sustainability over rapid growth
Adaptation over expansion
Limited new capital, tenant demand, and construction
However, 2025 may well have been a turning point. Last year the prospects of some peaks to our valley were introduced:
- First major office construction in 25+ years — River District Neighborhood Investors (RDNI) broke ground on a 142,000-sf Class A building for Shell Oil, which is also the first building in the planned River District development project. The last major office building in the CBD opened in 1989 and in Metairie in 1987.
- Increased building sales — Three Class A office buildings sold in 2025, after a decade with only one sale. Two more sales are expected in 2026, signaling renewed investor confidence and fresh capital.
- Rising rental rates — Both landlords and tenants began accepting that higher rates are necessary to maintain competitive Class A buildings, and those rates are expected to increase over the next few years.
- New city leadership — The change in leadership that was elected in late 2025 brought renewed optimism to the local business community, with hope for continued economic and quality-of-life improvements.
We look forward to seeing the changes that may result in our valley. You can learn more by downloading your copy of the 2025 Greater New Orleans Office Market Report.
It has been a noteworthy endeavor to record and a privilege to bring this information to you in our annual report. To that end, there are some organizational changes to this year’s format. Submarket sections provide high-level overviews and are found at the front, while building charts for each submarket can be found at the back. We have also incorporated more visuals to help guide focus toward some of the year’s highlights.
Corporate Realty is here to guide and support you in making strategic real estate decisions. Please let us know if you have any questions about this report or would like to know how we can help you with your commercial real estate needs.
Sincerely,
Michael J. Siegel, SIOR
President, Corporate Realty