Demand For Office Space Stalls After 6 Months Of Growth
Demand for office space edged down a bit in July with the emergence of the delta variant.
Demand for office space edged down a bit in July with the emergence of the delta variant.
To the extent that demand for office space has recovered in the U.S., it has been heavily concentrated in the newest, most expensive buildings.
Tours of office space have increased dramatically in frequency over the past month, but it may still take some time before that translates to leasing activity.
For the first time since office demand hit its pandemic nadir, new demand declined month-over-month in September, according to data from VTS.
Demand for office has risen a bit so far in 2022, but it is still down from last summer.
Occupancy levels are on the rise, but lag pre-omicron levels.
Demand for office space is slumping in NYC, even as lease signings hit their highest levels since the pandemic began.
April usually sees a spike in demand for office, but not this year.
Inflation, job challenges and recessionary changes to the economy have pushed commercial real estate firms to seek money-saving proptech tools.
Demand remains at roughly two-thirds of pre-pandemic levels in U.S. office markets, according to VTS, but two major markets have swung in opposite directions.
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