Office space is now being razed or converted faster than it’s being built — for the first time in 25 years By . Emily Davis. Published June 5, 2025, 2:49 p.m. ET.

On Monday, the Ventura City Council approved the use of the office in a 5-1 vote. The term of the month-to-month lease will begin on June 1, city documents show.

Ventura County is getting class-A, high-end office space like it has never seen before, all thanks to local office expansion in professional services sectors.

After several years of deep distress, the beleaguered U.S. office market has reached an inflection point. This year, office conversions and demolitions will exceed new construction for the first ...