Demand for Office Space Sinks Below Half of its Pre-pandemic Pace As Summer Comes to a Close

Deborah K. Vick


Taline Loschiavo

Taline Loschiavo

Material Advertising and marketing Supervisor, VTS

As summer season arrived to a shut, new demand from customers for office environment room fell for the 3rd consecutive thirty day period in August, sinking down below half of its typical pre-pandemic pace, in accordance to the most recent VTS Business Demand from customers Index (VODI) evaluation.

The national VODI fell by 6 VODI factors, or 11.5 p.c, from 52 in July to 46 in August — its lowest stage due to the fact February 2021.

What is the VTS Business office Need Index (VODI)?

The VODI is the earliest obtainable indicator of forthcoming workplace real estate trends, domestically and nationally, and represents up to 99% of new need for place of work area in seven big marketplaces, which include New York City, Washington DC, Los Angeles, Chicago, Boston, Seattle, and San Francisco. The VODI tracks tenant excursions, both of those in-human being and virtual, of business office attributes across the nation, and is the only business authentic estate index to observe tenant demand from customers.

The VTS Office Demand Index is run by proprietary VTS Information, composed of aggregated and anonymized business actual estate data from the 12B+ square feet of property managed on the VTS system.

Get today’s commercial real estate market developments in the most up-to-date VODI report:

  • Find out the quantities shaping a new, article-pandemic standard.
  • In which sector did business office desire drop most sharply?
  • Why the greatest declines in VODI on a quarter-around-quarter basis were being in Hearth-heavy metropolitan areas.

Down load the entire VTS Business Demand Index September 2022 report for in-depth insights into demand from customers restoration and in-depth methodology.

Want to learn how to use the knowledge in the VODI? The VTS Workplace Desire Index is just a sliver of the insights obtainable to you. VTS Facts is your competitive edge in today’s market. Find out how to reinvent your investment decision method working with energetic anonymized data from the $200B in leasing transactions. Benchmark your performance versus the market place and continue to be aggressive in an at any time-shifting field. Working with details, only accessible on VTS, resolve questions about source and demand from customers, leasing effectiveness, and tenant publicity to unlock – and unblock – specials. Learn a lot more about VTS Data below.

Eager to understand a lot more about how the pandemic has and will keep on to impression extended-expression sector dynamics of the business office sector, in particular as lots of organizations go on to adopt hybrid and function-from-dwelling styles? Read our hottest VTS Eco-friendly Shoots Report in this article.

Examine the formal push launch right here. 

Taline Loschiavo

Material Marketing Manager |


Taline Loschiavo

Taline is a Material Marketing Supervisor at VTS.

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