What are the biggest office REITs?

The biggest office REITs by market cap in mid-2026 were BXP at $10.5 billion, Vornado Realty Trust (NYSE: VNO) at $7.4 billion, and Cousins Properties at $4.9 billion.

Is there an office REIT ETF?

VanEck Office and Commercial REIT ETF (NYSEMKT: DESK) is an office REIT ETF. It aims to track the MarketVector U.S. Listed Office and Commercial REITs index, which measures the performance of the U.S. office REIT sector. The fund had 26 holdings in mid-2026, including BXP, Kilroy Realty, SL Green Realty, Easterly Government Properties, and Cousins Properties. The ETF has a reasonable 0.51% expense ratio and a trailing 12-month dividend yield of more than 4.5%.

Is there an office REIT index?

Several indexes track office REITs. They include the S&P 500 Office REITs Sub-Industry Index and the MarketVector U.S. Listed Office and Commercial REITs Index.

Are office REIT stocks a good buy now?

Some office REIT stocks look like good buys right now. The best ones are those that own high-quality office buildings in major coastal metro areas or in faster-growing cities in the Sun Belt. These areas are benefiting from a flight to quality and an increase in companies requiring their employees to return to the office full-time.

What are the office REIT stocks with the highest dividends?

The office REITs with the highest dividend yields in mid-2026 were:Brandywine Realty Trust (NYSE: BDN): 10.4%Easterly Government Properties: 7.5%Douglas Emmett (NYSE: DEI): 6.7%Highwoods Properties (NYSE: HIW): 6.5%Kilroy Realty 5.8%

What is the future of office REITs?

No one knows what the future holds for office REITs. However, there has been a meaningful shift in office demand over the past few years. The world initially moved away from in-person office work during the COVID-19 pandemic, and this shift continued for several years. While many companies continue to support remote and hybrid work, an increasing number have required employees to return to the office full-time. This trend suggests that demand for office space will remain strong, boding well for office REITs. However, the rise of AI adds another potential headwind for office demand. If companies need fewer administrative office workers, demand for office space could decline over the long term.

What is the market cap of office REITs?

As of mid-2026, the 16 publicly traded office REITs had a combined market cap of more than $45 billion, led by BXP at over $10.5 billion.

5 Best Office REITs for 2026 and How to Invest

A closer look at some of the top office REITS to invest in.

By Matthew DiLallo – Updated Aug 10, 2026 at 1:17 PM EST | Fact-checked by Frank Bass

Key Points

Invest in top office REITs like Easterly to capitalize on consistent government tenant demand.
Consider REITs like BXP and Kilroy Realty, focusing on Class A urban and life sciences spaces.
Diversify with Cousins Properties for exposure to growing Sun Belt regions and high migration areas.

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An infographic outlining the advantages and risks of investing in office real estate investment trusts (REITs). — Image source: The Motley Fool.

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Top five office REITs to buy in 2026

In mid-2026, 16 publicly traded REITs focused on owning office properties. Here's a closer look at the five best office REITs for investors to consider:

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Ticker Information Table
Name and ticker	Current price	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Dividend yield
Easterly Government Properties (NYSE:DEA)	$23.79	$1.1 billion	7.53%
Cousins Properties (NYSE:CUZ)	$28.05	$4.6 billion	4.58%
BXP (NYSE:BXP)	$64.44	$10.2 billion	4.39%
SL Green Realty (NYSE:SLG)	$52.15	$3.9 billion	3.89%
Kilroy Realty (NYSE:KRC)	$34.88	$4.1 billion	6.20%

Data as of Sep 11, 2026. Showing 5 of 5 total entries.

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1. Easterly Government Properties

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NYSE: DEA

Easterly Government Properties

Premium Feature

Moneyball Superscore

54/100

Today's Change

(-0.50%) $-0.12

Current Price

$23.79

Key Data Points

Market Cap

$1.1B

Day's Range

$23.74 - $24.06

52wk Range

$20.56 - $25.96

Volume

41.1K

Avg Vol

384.2K

Gross Margin

32.79%

Dividend Yield

7.53%

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Easterly Government Properties (DEA -0.50%) focuses on owning mission-critical properties, primarily leased to government agencies. It owned 106 properties across the country in mid-2026. That included 93 leased to U.S. Government agencies, including buildings that provide veterans' care (Department of Veterans Affairs outpatient facilities), law enforcement support (FBI regional headquarters), ICE facilities, and courthouses. It also had eight properties leased to state and local governments and five leased to private tenants, such as defense companies.

The REIT grows by investing in the expansion of its portfolio. For example, it bought a three-property campus leased to the Commonwealth of Virginia in January 2026. Easterly also develops properties to meet the highly specific needs of government tenants. It had three properties under development in mid-2026, including two for the U.S. Judiciary and one for the Florida Department of Law Enforcement.

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2. BXP

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NYSE: BXP

BXP

Premium Feature

Moneyball Superscore

65/100

Today's Change

(1.13%) $0.72

Current Price

$64.44

Key Data Points

Market Cap

$10B

Day's Range

$63.85 - $64.86

52wk Range

$49.72 - $79.33

Volume

217K

Avg Vol

1.4M

Gross Margin

33.53%

Dividend Yield

4.39%

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Formerly Boston Properties, BXP (BXP +1.10%) is the largest publicly traded developer, owner, and manager of premier workspaces. It owns a large portfolio of Class A office properties (164 properties totaling 51.1 million square feet as of mid-2026), which are modern buildings in prime locations.

It focuses on owning properties in six major coastal gateway cities: Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C. The office REIT also has a large and growing life sciences portfolio.

BXP launched a multi-year plan in late 2025 to enhance shareholder value and drive growth. It reset the dividend to retain additional cash for development projects. The office REIT is also selling non-core assets ($1.2 billion generated by the end of the second quarter) and securing private equity partnerships to fund new investments. As of mid-2026, BXP had $3.6 billion in properties under development to drive its continued growth.

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3. Cousins Properties

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NYSE: CUZ

Cousins Properties

Premium Feature

Moneyball Superscore

65/100

Today's Change

(0.38%) $0.11

Current Price

$28.05

Key Data Points

Market Cap

$4.6B

Day's Range

$27.85 - $28.38

52wk Range

$21.03 - $32.95

Volume

131.3K

Avg Vol

1.5M

Gross Margin

26.90%

Dividend Yield

4.58%

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Cousins Properties (CUZ +0.38%) focuses on Class A office buildings in fast-growing Sun Belt markets. It owns modern office buildings across Austin, Atlanta, Phoenix, Charlotte, Tampa, Houston, Dallas, and Nashville.

Cousins Properties' focus on the Sun Belt region has paid off. The region has benefited from significant migration from cold, expensive coastal cities to cheaper, warmer cities in the Sun Belt. Companies are also moving into the region because of better business climates and abundant worker pools.

These migration trends have enabled Cousins Properties to launch new development projects and acquire properties to expand its portfolio. In early 2026, the office REIT bought 200 South Tryon, a premier lifestyle office property in Charlotte, for $317.5 million. It also bought its joint venture partner's 10% interest in 100 Mill for $18.5 million and acquired a preferred equity interest in 5th & Walsh with a $31.5 million funding commitment in 2027. Cousins also closed some non-core asset sales to help fund these new investments.

4. SL Green Realty

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NYSE: SLG

SL Green Realty

Premium Feature

Moneyball Superscore

54/100

Today's Change

(1.01%) $0.52

Current Price

$52.15

Key Data Points

Market Cap

$3.9B

Day's Range

$51.62 - $52.34

52wk Range

$34.77 - $66.29

Volume

54.3K

Avg Vol

988.1K

Gross Margin

33.59%

Dividend Yield

3.89%

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SL Green Realty (SLG +1.01%) is Manhattan's largest office landlord, with interests in 54 buildings totaling 30.6 million square feet. That includes properties secured by debt and preferred equity investments (1.4 million square feet). It also manages four buildings, totaling roughly 900,000 square feet, owned by third parties.

The REIT's premier office portfolio generates fairly stable rental income. SL Green pays out a portion of that income via dividends and retains the rest to grow its office portfolio.

It has developed several high-profile office buildings in recent years, including One Vanderbilt and One Madison Avenue. It will also acquire buildings (it bought the Park Avenue Tower for $730 million in early 2026).

5. Kilroy Realty

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NYSE: KRC

Kilroy Realty

Premium Feature

Moneyball Superscore

60/100

Today's Change

(0.09%) $0.03

Current Price

$34.88

Key Data Points

Market Cap

$4.1B

Day's Range

$34.76 - $35.37

52wk Range

$27.36 - $45.03

Volume

198.1K

Avg Vol

1.3M

Gross Margin

31.75%

Dividend Yield

6.20%

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Kilroy Realty (KRC +0.03%) is a leading publicly traded owner and operator of Class A office and life science properties. It primarily focuses on owning properties on the West Coast (Seattle, San Diego, Los Angeles, and the Bay Area). It also owns offices in Austin, Texas. It owned 17.1 million square feet of office and life science space and 608 residential rental units in San Diego.

The office REIT's West Coast portfolio is benefiting from the trend of more tech companies requiring employees to work in-office. Kilroy is also benefiting from its strategy to invest in life science properties.

The company also routinely invests in new properties to grow its portfolio. In 2026, it bought an interest in 1900 Broadway, a land site capable of supporting a 251,000-square-foot office building. Kilroy expects the project to cost between $330 million and $350 million, with construction beginning in 2027 and delivery anticipated in 2030. These drivers position the REIT to grow shareholder value in the coming years.

How to invest in office REITs

Here's a step-by-step guide on investing in office REITs:

Open your brokerage app: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in office REITs

Office REITs have several positive investment characteristics. Some benefits of investing in the sector include:

Durable rental income: Most office tenants sign long-term leases (five to 10+ years). These long-term leases provide office REITs with relatively steady cash flow. They also help mute the impact of a recession since office REITs don't have to lease all their space during a market downturn.
Steady demand: Office space demand has been relatively stable over the long term. While many companies have adopted a hybrid model that allows their employees to work from home part of the time, they continue to lease office space. They believe having employees together in an office setting can increase collaboration, coordination, and productivity.
Institutional demand: Given their stability and durability, office buildings are in high demand among institutional investors, such as pension funds. They often acquire office buildings from REITs or buy entire REITs, which boosts valuations across the sector.
Capital appreciation: Office REIT share prices can increase as the value of their office property portfolios rises.
High dividend yields: Many office REITs offer above-average dividend yields, making them attractive to investors seeking passive income.
Diversification: Office REITs enable you to build a diversified portfolio of office properties.

Investing in office REITs isn't without risk. Here's a look at several of the risk factors investors need to keep in mind before buying shares of an office REIT:

Uncertain future: There's still a lot of uncertainty about what the future holds for offices amid the rise in remote and hybrid work, as well as AI. The rise in remote work has had the greatest impact on lower-quality office buildings and those in suburban locations.
Oversupply: Developers usually start constructing office buildings on speculation, betting they'll secure tenants before finishing construction. If developers build too much supply, this can weigh on occupancy levels and lease rates in certain markets.
Interest rate risk: Rising interest rates can increase interest expenses if an office REIT uses floating-rate debt or has near-term debt maturities. They can also increase income yields on lower-risk investments, such as bonds. As a result, REIT stock prices often fall when interest rates rise, as investors demand a higher dividend yield to compensate for the REIT's higher risk profile relative to bonds.

Methodology: How these stocks were chosen

I evaluated office REITs based on the following characteristics:

Property focus: Demand for office space has shifted since the pandemic, driven by the rise of remote and hybrid work. Many companies have upgraded their office space to Class A properties in urban city centers. As a result, rental and occupancy rates for premier properties have risen, while demand for lower-quality office buildings has fallen. Given these trends, REITs that own premium office properties have a competitive advantage over those that focus on suburban commodity office campuses.
Financial strength: An office REIT must maintain a low dividend payout ratio and an investment-grade balance sheet to weather industry headwinds.
Development pipeline: Investors should evaluate an office REIT's development pipeline to ensure it's building pre-leased properties that contribute immediate cash flow upon completion, rather than building on speculation.

The five office REITs selected stood out compared to their peers across these five categories.

Should you invest in office REITs?

The office sector has been mired in a multi-year slump. Demand for office space has been sluggish since the pandemic. While it has improved in more recent years, AI is emerging as another potential headwind for the sector. Investors need to balance these and other risks against the benefits of office REITs, including dividend income and growth potential as they develop and acquire new properties to expand their portfolios and earnings. They're best suited for investors with a higher risk tolerance who seek income and upside potential as the sector navigates headwinds and strives to stage a comeback.

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Investing in office REITs: FAQ

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About the Author

Matt DiLallo has been a contributing Motley Fool stock analyst specializing in the energy, industrials, and real estate sectors since 2012. He also covers dividend-paying stocks, pre-IPO companies, ETFs, and other investing topics. He holds an MBA from Liberty University.

TMFmd19

@MatthewDiLallo

Matt DiLallo has positions in Cousins Properties and SL Green Realty. The Motley Fool recommends Easterly Government Properties. The Motley Fool has a disclosure policy.

5 Best Office REITs for 2026 and How to Invest

A closer look at some of the top office REITS to invest in.

Key Points

Top five office REITs to buy in 2026

1. Easterly Government Properties

Key Data Points

2. BXP

Key Data Points

3. Cousins Properties

Key Data Points

4. SL Green Realty

Key Data Points

5. Kilroy Realty

Key Data Points

How to invest in office REITs

Benefits and risks of investing in office REITs

Methodology: How these stocks were chosen

Should you invest in office REITs?

Related investing topics

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5 Best Healthcare REIT Stocks for 2026 and How to Invest

3 Best Mortgage REITs for 2026 and How to Invest

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Investing in office REITs: FAQ

About the Author

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Investing in office REITs: FAQ

What are the biggest office REITs?

Is there an office REIT ETF?

Is there an office REIT index?

Are office REIT stocks a good buy now?

What are the office REIT stocks with the highest dividends?

What is the future of office REITs?

What is the market cap of office REITs?

1. Easterly Government Properties

2. BXP

3. Cousins Properties

Benefits and risks of investing in office REITs

Methodology: How these stocks were chosen

Should you invest in office REITs?

Related investing topics

Top five office REITs to buy in 2026

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

4. SL Green Realty

How to invest in office REITs

5. Kilroy Realty